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New functionality and AI-powered insights increase precision and relevance for users, further simplifying the user experience, accelerating adoption and risk mitigation success
SAN FRANCISCO, Dec. 4, 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 customize the user experience and enhance intelligence and increase personalization to improve risk protection and regulatory compliance and further enhance supply chain resilience.
“AI advancements in our platform give companies a complete, intuitive view of supplier risk, adding intelligence to their business functions, increasing agility and enabling faster, confident decision-making,” said Austin Chang, Chief Product Officer at Craft. “We are focused on delivering an easy-to-use supply chain resilience solution that provides actionable insights and comprehensive support around people, processes 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 relying on advanced searches, scaled supplier evaluations (up to 1,000 suppliers) at the click of a button, aggregated risk views, with quickly scannable risk scores, side-by-side vendor comparisons based on all vendor metrics, configurable alerts that eliminate noise and improve relevance, and robust business profiles “out of the box” so users see the value from day one.
New capabilities include:
“Craft has transformed our approach to supplier risk management with its intuitive platform, delivering speed and value across all our supplier engagements. Its ease of use allows our teams to easily access real-time insights, enabling faster, data-driven decision making and stronger collaboration across all departments, ” said Gary Wright, Procurement & Workplace Experience Director at Skyscanner “With Craft, we have been able to enhance our supplier resilience strategy, empowering our team to proactively manage risk and drive sustainable growth.”
Supply chain resilience technology has become a top priority for businesses given the ever-increasing frequency of risk events, with an average of 17 events per year. According to industry analysts, companies that invest in resilient supply chain technologies saw a 23% increase in revenue from 2018 to 2023, compared to 15% for those that did not. However, adoption of the technology is often slow and takes months to set up and deliver value. Procurement and supply chain teams charged with vetting and monitoring hundreds to thousands of suppliers across numerous risk categories while navigating a complex regulatory landscape need solutions that pay off from day one. Whether they want to get ahead of supply chain disruptions or move suppliers out of China, they need intelligent solutions that deliver value quickly. Craft continues to simplify the user experience, accelerate deployment, and deliver 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 a “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 others. Visit for more information Craft’s newsroom.
About craft
Craft lights the path to global supply chain resilience. It enables companies to strengthen their supplier networks and supply chains with the most reliable and comprehensive data structure and advanced risk mitigation engine in the industry. Craft’s award-winning, easy-to-use platform provides 360-degree visibility to explore and evaluate supplier networks, AI-powered insights to detect and mitigate disruptions, and collaboration tools to improve supply chain strategies. Procurement and supply chain professionals can confidently navigate regulations, adhere to ethical standards and ensure business continuity. Headquartered in San Francisco, CA, Craft helps commercial and government organizations around the world create more resilient supply chains. For more information about Craft, visit www.craft.co.
Contact:
Carol Hickins
Email: (email protected)
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