Helios Artificial Intelligence says it has launched its Supply Chain Climate Audits, or SC²A, a product that aims to help companies address the growing climate risks impacting global agri-food supply chains.
SC²A provides procurement leaders with critical insights into how climate change will affect their suppliers and commodities over the next decade, allowing organizations sourcing globally to mitigate supply chain disruptions and adapt to future challenges, according to a news release.
Helios AI said the increasing frequency of catastrophic climate events — such as the record-breaking temperatures, wildfires and rainfall seen across the globe in recent months — has placed unprecedented pressure on global supply chains, especially in the agriculture sector. The company said its platform, powered by 500 billion climate-risk data points and machine-learning models, helps organizations stay ahead of these risks.
“At Helios, we’ve seen the accelerating pace of agricultural disruptions firsthand, from cocoa in Cote d’Ivoire to corn in the U.S. Midwest,” said Francisco Martin-Rayo, co-founder and CEO for Helios AI. “We created our Supply Chain Climate Audits to give procurement teams the ability to proactively climate-proof their supply chains. With our SC²A, companies can make informed decisions on which suppliers to invest in and which to move away from, ensuring they can secure sustainable sourcing in a rapidly changing climate.”
Helios AI said its SC²A offering evaluates the specific climate risks facing an organization’s supply chain based on its supplier locations and commodities. By identifying which suppliers are vulnerable and which could thrive under changing conditions, SC²A enables businesses to make strategic decisions for future procurement, the release said.
For instance, a global juice manufacturer used Helios AI’s SC²A to assess their grapefruit and apple suppliers. The audit revealed that warmer and drier temperatures in Spain would result in sweeter grapefruit juice, signaling an opportunity for the manufacturer to deepen investment in Spanish suppliers, the release said. Conversely, the SC²A advised the manufacturer to move away from certain Polish apple growers due to anticipated lower yields caused by shorter winters and greater frost risk.
Helios AI said its Supply Chain Climate Audits will empower agri-food companies to better manage the risks and maintain a resilient supply chain in the face of future crises.
