Corning’s risk management process begins before companies even join our supply chain. Corning uses Everstream, a supply risk profile / rating solution, to identify potential risks before we select and add suppliers to our supply chain. Everstream is an easy-to-use portal that provides real-time, objective, enterprise-wide risk exposure measurement and reporting across the supply chain.
Corning tracks all critical suppliers, represented by approximately 2,000 suppliers. We are in process of expanding supplier tracking within Everstream to include sub-tier suppliers. These sub-tier suppliers are identified utilizing AI technology. Through initiatives such as Corning’s responsible mining initiative, we are working to identify and track sub-tier materials suppliers, such as mines, that will be monitored through our supply chain risk assessment tool, Everstream. Tracking these suppliers is a critical component to meeting our 2025 sustainable supply chain goal and enables Corning to monitor our sub-tier supplier base.
Our risk managers use Everstream’s’ digitalization technologies, including big data real time monitoring, machine learning, and AI to make proactive assessments of supply chain risk across the globe at a moment’s notice.
The Everstream tool collects data from a variety of sources through its content partners, , and through scanning thousands of news sites to provide updated risks assessments for Corning’s supply base. Corning uses Everstream to monitor risks such as labor practices and human rights violations to be alerted if that type of risk is identified in our supply base, including sub-tier suppliers within the database.
Supply chain social and environmental responsibility risks are monitored and evaluated , across the enterprise-wide supply chain , for the following risk profiles:
· Labor Practices and Human Rights
· Environmental
· Information and IP Security
· Regulatory and Legal
· Corruption and Bribery
The risk strategy protects the E2E Supply Chain and it two-fold
1. Mitigate risk to prevent or reduce impact of a risk event. Corning does this thru SC visibility and real-time risk assessments. Everstream identifies the risk for each supplier, including Sustainability. This allows Corning to identify risk, create mitigation plans and take actions to build resiliency.
2. React quickly to prevent or reduce impact if a risk event occurs. Thru Everstreams SC visibility risk managers receive real-time notifications if a risk event occurs. When this happens the risk event is managed thru an Incident Management Process which allows for collaboration and escalation.