Monday, May 27, 2024

Prewave: Boosting International Supply Chains with AI

Prewave is using AI on Google Cloud to help protect deep supply networks globally

Most companies are aware that long-term prosperity depends on accepting accountability for their social and environmental effects. But since most businesses can only see their direct suppliers, how can they make completely informed decisions? Prewave helps companies improve supply chain resilience, transparency, and sustainability.

Prewave AI

Its end-to-end platform monitors and forecasts supply chain threats using AI. At the scale they operate to assist Prewave clients, managing enormous volumes of data and deriving significant insights from publicly accessible information would be nearly impossible without artificial intelligence (AI). Prewave must therefore have a strong technological base that is dependable, safe, and extremely scalable in order to consistently meet this demand. For this reason, starting in 2019, they developed the Prewave supply chain risk intelligence platform on Google Cloud.

As a tiny team back then, They didn’t want to be burdened with hardware or infrastructure maintenance. Google Cloud managed services stood out for offering security, dependability, and availability while freeing us up to work on Prewave’s goal and create to a product. Their choice was also impacted by a common concern for sustainability, and Google cloud are happy to be collaborating with data centres that have such a small carbon footprint.

Monitoring thousands upon thousands of vendors

The Prewave end-to-end platform solves customers’ two key issues: By identifying important risks and creating mitigation plans, it first strengthens supply chains. ESG hazards like forced labour are identified and mitigated to improve supply chain sustainability.

As part of her PhD research in 2012, the co-founder Lisa designed Prewave Risk Monitoring function. It uses AI. With it, They search through publicly accessible data in more than 120 languages for insights that might alert Prewave clients to potential risk events before they happen, such labour disputes, accidents, fires, or any of the 140 other risk categories that could interfere with their supply chain. Clients can use Prewave platform to conduct risk-reduction measures, such as filing an incident review or scheduling an on-site audit, based on the insights that are obtained.

Prewave uses this data to map google cloud clients’ supply chains from direct and tier-one suppliers all the way down to the suppliers of raw materials. New rules like the European Corporate Sustainability Due Diligence Directive (CSDDD) now require this degree of depth and openness, yet it can be difficult for Prewave clients to accomplish this on their own. Their platform assists them in getting to know each of their hundreds or thousands of suppliers while also allowing them to concentrate attention when necessary on those that pose the most risk.

The Prewave platform minimizes the amount of work required by the supplier. They only need to take action when Prewave’s Tier-N Monitoring capacity detects a possible danger; in that instance, google cloud help them address problems and improve. They also avoid having to manually respond to hundreds of surveys in order to be eligible to conduct business with more partners thanks to this degree of visibility.

Google technical teams mostly rely on scalable technology, such Google Kubernetes Engine (GKE) to support Prewave SaaS, to make all of this possible. They just made the conversion from Standard to Autopilot and have seen significant improvements in time efficiency. This is because google cloud no longer have to worry about making sure that node pools are set up or that all available CPU power is being used effectively, which can result in resource savings of up to 30%. Because they only pay for the deployments that they actually conduct, this has also assisted us in cutting costs.

Furthermore, Google think that providing the greatest experience to both Prewave internal teams and clients depends on having the best technologies available. As a result, cloud manage the docker containers that also use for GKE and experiment, build, and deploy artefacts using Cloud Build and Artefact Registry. In the interim, Cloud Armor serves as a firewall to keep out web and denial-of-service threats.

The application development and data science teams use Cloud SQL as a database since scalability is critical to their goals. google cloud can concentrate on creating their product because this completely managed service takes care of managing the servers in accordance with demand. These systems form the backbone of Prewave daily operations, and data science teams additionally use Compute Engine to host Prewave AI implementations as Google cloud create and maintain their own models.

Prewave supply chain

Prewave clientele has increased from three to over 170 since 2020, their staff of ten has risen to over 160, and the company’s revenue growth has quadrupled by 100, marking an important milestone. Since then, they’ve also added a tone of new features to platform, which has forced us to grow both the business and the product. Google Cloud solved this problem. They only increased the resources that the new solutions required, which helped us attract more clients and increase it’s awareness at the appropriate moment. Growing their firm has been easy because of scalable and extremely robust basis.

After then, Prewave intends to carry out its 2023 expansion ambitions into Europe before advancing to other regions, including the US. This is progressing smoothly, and they are gaining the confidence of early-stage clients who evidently also have faith in Google Cloud’s dependability and security thanks to Prewaves partnership with them. They have no doubt that partnership with Google Cloud will continue to provide enormous advantages as cloud assist an increasing number of global businesses in achieving legal compliance, transparency, resilience, and sustainability throughout their intricate supply chains.

Since June 2023, Drakshi has been writing articles of Artificial Intelligence for govindhtech. She was a postgraduate in business administration. She was an enthusiast of Artificial Intelligence.


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