Case Studies > Nokia and riskmethods

Nokia and riskmethods

Customer Company Size

Large Corporate

Product

The riskmethods Solution

Tech Stack

AI-based monitoring

Implementation Scale

Enterprise-wide Deployment

Impact Metrics

Customer Satisfaction
Digital Expertise
Productivity Improvements

Technology Category

Analytics & Modeling - Predictive Analytics

Applicable Industries

Telecommunications

Use Cases

Predictive Maintenance
Supply Chain Visibility

Services

Software Design & Engineering Services
System Integration

About The Customer

Nokia is a global leader in the telecom industry, offering an end-to-end portfolio of network equipment, software, services, and licensing. Their customer base includes service providers supporting 6.1 billion subscriptions, as well as enterprises in both the private and public sectors. Nokia also serves consumers with technology and devices. The company operates 24 factories in 16 countries, producing 6,000 products annually and managing a supplier base of over 28,500. With a purchasing volume exceeding €14 billion, Nokia ships to 120 countries and handles 10,000 sales orders daily.

The Challenge

Nokia faced significant challenges in managing its complex supply network, which included nearly 30,000 suppliers and over 10,000 orders per day from more than 120 countries. The company had undergone a series of mergers and acquisitions, nearly doubling in size and distribution within a few years. This rapid expansion led to a supply network with more than four tiers, where suppliers often used the same sub-suppliers. Consequently, a problem with one sub-supplier could impact the entire network. Nokia needed a solution to manage these complexities and mitigate risks effectively.

The Solution

Nokia implemented The riskmethods Solution to enhance its supply chain risk management. This AI-based monitoring tool allows Nokia to track risk events globally, freeing up the risk management team to focus on tactical and strategic activities. The solution provides comprehensive supply chain visibility, enabling Nokia to track individual components and follow the upstream and downstream paths of specific suppliers. It also automates supplier assessments, reducing manual processes and ensuring up-to-date evaluations. Additionally, the solution segments the supply chain into tiers, notifying relevant employees when a risk event occurs in any tier.

Operational Impact

The riskmethods Solution has significantly improved Nokia's supply chain visibility, allowing the company to track the value stream of individual components and follow the upstream and downstream paths of specific suppliers.
Automated supplier assessments have reduced the need for manual processes, ensuring that assessments are always current and accurate.
The solution has enabled Nokia to segment its supply chain into tiers, providing sub-tier insights and notifying relevant employees when a risk event occurs in any tier.
Nokia's risk management team can now focus on more tactical and strategic activities, thanks to the AI-based monitoring provided by The riskmethods Solution.
The solution has helped Nokia demonstrate its commitment to addressing supply chain risk, thereby enhancing customer satisfaction and meeting market demand.

Quantitative Benefit