Mitigating Supply Chain Risk for a Manufacturing Leader
Client Overview: A Fortune 500 manufacturing company with thousands
of global suppliers had poor visibility into their procurement contracts. They were
exposed to significant risk from non-compliant suppliers, missed renewal dates on
favorable agreements, and an inability to enforce key performance indicators (KPIs).
Key Challenges:
- Contracts were stored in disparate systems and file shares across the globe.
- No centralized way to track supplier obligations, certifications, and
compliance.
- Costly auto-renewals of underperforming or unnecessary vendor contracts.
- Inability to quickly assess risk exposure during supply chain disruptions.
Our Solution:
We deployed our AI-CLM to first digitize and centralize their entire repository of
procurement contracts. Our AI extracted over 50 key metadata points, including
liability caps, insurance requirements, and renewal terms. We then configured
automated workflows and alerts to proactively manage supplier compliance and renewal
deadlines.