Fighting Billion-Dollar Weather and Climate Disasters with Sense.ai

Climate Change

If 17 year old, Times Person of the Year awardee Greta Thunberg can see the world burning because of climate change, then business leaders like you can simply not afford to turn a blind eye towards this global phenomenon and how it could potentially disrupt supply chain operations worldwide.

In 2019 - the United States witnessed a tragic total of 14 weather and climate disasters, and each disaster cost the nation more than 1 billion US dollars in terms of losses.

To further break this statistic down, last year was marked with 3 floods, 8 devastating storms, 2 tropical cyclones, and 1 wildfire event. When combined, these events resulted in the deaths of 44 people and had a major adverse economic effect on the geographies impacted.

2019 was also the fifth consecutive year (2015-2019) in which 10 or more billion-dollar weather and climate disaster events shook the United States.

As if right out of a dystopian novel – wind, rain, fire, hurricanes have swept through the US, from Iowa to Arkansas as the planet becomes warmer with each passing year.

So, how has this climate change impacted industries?

Let’s have a look

• The Oil and Gas Industry’s production fell by 12 million barrels of crude oil and 18 billion cubic feet of natural gas as a combined effect of Hurricane Harvey and Nate in 2018
• For the Agriculture and Food industry, 19.3 million acres of crops went unplanted in 2019 because of the Missouri River & North Central Floods
• The transport industry faced the biggest trucking disruption along Interstate 95 due to the flooding caused by Hurricane Florence in 2018
• Global electronics and automobile production was derailed by the Thailand floods in 2011; With 7 production estates bordering Bangkok shutting down, rendering over 650,000 people temporarily out of work
• The medical devices industry lost billions as consignments full of instruments had to be discarded to eliminate health threats because of Hurricanes in 2019

How can organizations prepare against such adversities?

While natural disasters are unpredictable, the importance of creating an intelligent ecosystem that allows your organization to foresee risks and prepare for the worst cannot be stressed enough.

Having timely knowledge about changing weather events can not only help supply chains save millions on rescheduling but also allow them enough time to look into alternative avenues of suppliers as well as alternate routes for trucks carrying precious customer goods.

This is where our flagship product Sense.ai has proven to be extremely handy for global market leaders looking to stay ahead of the curve when it comes to Supply chain Risk management and mitigation.

Leveraging the power of machine learning models and bleeding-edge technology, the app converts unstructured data into actionable structured information. Mining information for insights such as wind speed, precipitation, the likelihood of events, severity – the App provides proactive alerts for weather-related events.

Sense.ai allows your organization to ingrain the capability of actively monitoring and mitigating potential supply chain risks. So you can plan, prepare, and push for not just protection but the growth of your business in 2020.

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