Information and Collaboration Reduce Risk

Kristal Snider

From its foundation ERAI has had one goal and that is to provide a platform for our Members to openly share information for the betterment of our entire community. ERAI’s success in protecting its Members hinges on our ability to provide real-time information allowing for a quick and reliable risk assessment. Since its inception ERAI has investigated and reported thousands of incidents exposing high risk customers, suppliers, product nonconformances, scams and more. Despite the obvious benefits of information sharing, not all ERAI Members participate in the process. Why are some organizations reluctant to share their experiences?

Managing supply chain risk in a competitive world is challenging. If "information is power", is your organization's power diminished if that information is shared? In supply chains, the reverse is true. If information between supply chain members is shared, its power increases significantly. Information sharing reduces uncertainty and information-enriched supply chains perform better than those that do not have access to information beyond their corporate boundaries.i The bottom line: Information and collaboration reduce risk.

Members and non-Members alike should take the time to familiarize yourself and your organization with ERAI’s data verification and reporting processes and procedures. The data you share with ERAI and its representatives is considered privileged and confidential and is not disseminated to third parties not directly involved in a complaint. ERAI is willing to enter into a non-disclosure agreement as assurance your company’s proprietary information and/or trade secrets will be protected and kept confidential. NDA coverage can be as specific as necessary and can include customer and/or vendor identities, bill of materials, etc.

The threat that one organization is facing today may very well be one that other organizations will face tomorrow; thus, the mutual sharing of information benefits the supply chain at large. Make use of the information sharing capability ERAI provides. Protect yourself, respond more efficiently to threats and reduce risk and unnecessary financial loss.

Please do not hesitate to contact me to discuss your data sharing ideas, recommendations or concerns.

We are here to help.       

i Towill, D. R., "The Seamless Supply Chain - The Predators Advantage", International Journal of the Technology of Management.