SAN MARCOS, Calif, February 13, 2025 – Everstream Analytics (Head Office: California, USA; CEO: Corey Rhodes; hereinafter “Everstream”) the global leader in supply chain insights and risk analytics, today announces the collaboration with PwC Consulting LLC (Head Office: Chiyoda-ku, Tokyo; CEO: Masaki Yasui; hereinafter “PwC Consulting”). In this era of uncertainty, many Japanese companies are concerned about the procurement and supply of raw materials and parts due to the variety of risks. The two companies will jointly provide a service that supports the advancement of risk analysis and the transformation of risk management using AI (the “Service”), thereby contributing to the business stability of many Japanese companies.
Background
In recent years, many companies have faced challenges in maintaining stable procurement due to increasing risks such as natural disasters, geopolitical tensions, ESG concerns (including environmental and human rights issues), and cyber risks. As a result, some businesses have had to delay or halt services, production, and shipments due to the inability to source essential products and parts. Traditionally, procurement risk management in Japanese companies has been focused on a reactive approach, primarily centered around a business continuity plan. However, there is now an increasing need to establish an organizational structure to proactively identify risks before they occur and respond promptly to mitigate them, thereby strengthening resilience. A May 2024 PwC Consulting survey found that many Japanese companies have not yet made substantial advancements in reforming their procurement risk management practices. Key barriers identified in the survey include the following:
Barriers to change arising from internal challenges faced by companies
- Many companies lack visibility into the full supplier network and only have a clear understanding of their Tier 1 suppliers. Furthermore, procurement risk management is often limited to Tier 1 suppliers.
- Traditionally, procurement risk management has focused on QCD (Quality, Cost, Delivery) and financial risks, but has struggled to address the diversified risks of recent years.
- Data collection is primarily done through analog methods, which are not real-time.
- Business processes and manuals for procurement risk management remain undeveloped and have become too generic.
- There is a shortage of human resources for procurement risk management or a lack of skills to effectively collect and utilize data.
Outline of this service
To address the challenges outlined above, the service will integrate Everstream’s procurement risk management tool with embedded AI. This SaaS solution provides visibility of the supply chain network, along with centralized management of various risks and both quantitative and qualitative assessments for each supplier. Additionally, it offers real-time incident alerts and mid- to long-term risk assessments.
To ensure the solution delivers maximum value, PwC Consulting creates business guidelines tailored to the client’s industry, business model, and other factors, while also developing the necessary business infrastructure. Additionally, PwC Consulting provides practical training workshops to support the client’s employees in skill development and the seamless operation of the tool on-site.
Everstream’s risk management solution enables the tracking of manufacturing sites, transportation routes, and hubs, providing a real-time risk score for each location on an interactive map, making this service particularly valuable for companies with overseas suppliers in their supply chain. By establishing a system that ensures a steady business cycle, we will together drive transformation in procurement risk management.
About Everstream Analytics
Everstream Analytics sets the global supply chain standard. Through the application of artificial intelligence and predictive analytics to its vast proprietary dataset, Everstream delivers the predictive insights and risk analytics businesses need for a smarter, more autonomous and sustainable supply chain. Everstream’s proven solution integrates with procurement, logistics and business continuity platforms generating the complete information, sharper analysis, and accurate predictions required to turn the supply chain into a business asset. To learn more, visit https://www.everstream.ai/.
About PwC Consulting LLC
PwC Consulting LLC offers consulting services that help clients from strategy through execution. In collaboration with the PwC global network, PwC Consulting LLC work to resolve complex and challenging management issues faced by clients, helping them bolster their competitive advantage in the global market. To learn more, visit https://www.pwc.com/jp/en/about/member/consulting.html.
About the PwC Japan Group
The PwC Japan Group is a collective name for the member firms of the PwC global network in Japan and their affiliates. Each firm within the PwC Japan Group conducts its business as a separate, independent business entity. To learn more, visit https://www.pwc.com/jp/en.html.
In response to clients’ increasingly complex and diverse corporate management issues, the PwC Japan Group has put in place a system that consolidates knowledge in the fields of auditing and broader assurance services, consulting, deal advisory, tax and legal services, and encourages organic collaboration among professionals in each field. As a professional services network with approximately 12,700 certified public accountants, tax accountants, lawyers and other professional staff, PwC Japan Group strives to provide services that more accurately address clients’ needs.