SAN FRANCISCO, Dec. 04, 2024 (GLOBE NEWSWIRE) -- Craft, the award-winning supply chain resilience company recognized by users and analysts for its ease of use, today announced the release of advanced features to tailor the user experience, boost intelligence, and increase personalization, to enhance risk protection, regulatory compliance, and further enable supply chain resilience.
"AI advancements in our platform give companies a complete, intuitive view of supplier risks, that adds intelligence across their enterprise functions, boosting agility and enabling faster, confident decision-making," said Austin Chang, Chief Product Officer at Craft. “We focus on delivering a user-friendly supply chain resilience solution that offers actionable insights and comprehensive support around people, process, and technology, with best-practice guidance to ensure success."
As the industry's easiest-to-use platform, Craft simplifies traditionally complex tasks with google-like search instead of reliance on advanced queries, scaled supplier evaluations (up to 1,000 suppliers) with the click of a button, aggregate risk views, with quickly scannable risk scores, side-by-side supplier comparisons across all supplier metrics, configurable alerts that eliminate noise and improve relevancy, and robust company profiles "out of the box" so users see value on day one.
New capabilities include:
- Advanced search enhancements by keyword and location for improved relevance and precision
- Supplier trend tracking over time with saved keyword settings
- Improved experience with updated supplier profiles and streamlined case management notifications to surface what is most important
- Expert-driven workshops, resilience and maturity assessment guides, and supplier risk management best practices to ensure implementation success
“Craft has transformed our approach to supplier risk management with its intuitive platform, delivering speed to value across our supplier engagements. The ease of use allows our teams to simply access real-time insights, enabling quicker, data-driven decision making and stronger collaboration across departments,” said Gary Wright, Procurement & Workplace Experience Director at Skyscanner. “With Craft we’ve been able to enhance our supplier resilience strategy, empowering our team to proactively manage risks and drive sustainable growth.”
Supply chain resilience technology has become a top priority for companies with the ever-increasing frequency of risk events, averaging 17 events annually. According to industry analysts, companies that invest in supply chain resilience technologies saw a 23% revenue increase from 2018 to 2023, versus 15% for those that did not. However, adoption of the technology is often slow, taking months to set up and deliver value. Procurement and supply chain teams tasked with vetting and monitoring hundreds, to thousands of suppliers, across myriad risk categories while navigating a complex regulatory landscape need solutions that pay off from day one. Whether they are getting ahead of supply chain disruptions, or moving suppliers out of China, they need intelligent solutions that deliver value quickly. Craft continues to simplify the user experience, speed up deployment and provide rapid value in detecting risks and opportunities in the supplier ecosystem.
Today’s news is the latest in a series of announcements highlighting several key strategic initiatives and milestones for Craft in the second half of 2024, including being named “Top 50 Providers to Watch” and “Value Leader” by Spend Matters, Craft’s appointment of Austin Chang as chief product officer, and the expansion of Craft’s federal government contracts with the addition of The Department of Energy, among many others. To learn more, visit Craft’s newsroom.
About Craft
Craft illuminates the path to global supply chain resilience. It empowers businesses to strengthen their supplier networks and supply chains with the industry’s most reliable and comprehensive data fabric and advanced risk mitigation engine. Craft’s award winning, user-friendly platform offers 360-degree visibility to explore and evaluate supplier networks, AI-driven insights to detect and mitigate disruptions, and collaborative tools to enhance supply chain strategies. Procurement and supply chain professionals can confidently navigate regulatory environments, adhere to ethical standards, and ensure business continuity. Headquartered in San Francisco, CA, Craft assists commercial and governmental organizations worldwide in creating more resilient supply chains. For more information about Craft, visit www.craft.co.
Contact:
Carol Hickins
Email: carol.hickins@craft.co
