A D2C company based in Mumbai with more than 20 manufacturing units in Maharashtra was very vulnerable to production disruption because their production units were limited in numbers. Any disruption to one of its factories could really disrupt the whole supply chain and would impact their revenue a lot. We at lythouse, were told to keep a close eye on all risk threats related to their factories.
A company called spyne faced some risk incidents in the past. They realized the importance of risk management and approached Lythouse to get help with their business continuity and employee safety.
They didn’t have any other risk management in place. Lythouse took the responsibility and has served them for a year now. We are providing them a complete riskmatic solution for external risks.
This is the end year performance of Lythouse.
Lythouse has actively identified risk alerts for the company, so far, we have identified 150 alerts including 60 notices, 30 critical news, 28 emergency news and 32 warnings.
These categories indicate the severity of the news, going from least severe to most severe. The alerts helped the company prevent a lot of damage. One such alert which was listed in the emergency category, was one major event that the company was totally unaware of.
This incident would have caused the company a loss of 1 crore if not mitigated. The company carefully reviewed the alert along with location impacts listed on the alert. They noticed the total revenue impact on the dashboard and made this their priority.
The team went through the mitigation plans and alternative routes they could have taken and initiated action.
This incident alone saved them a loss of 1 crore.
Our solution also made employee safety and tracking easier for them. Company was struggling with communicating information effectively faster. Getting feedback from the employees took hours on end. They used the CUG broadcast feature that automatically creates a group of relevant stakeholders during a event. They could send notifications faster using channel of their choice. Filtering the information of who responded or not and through what channel made the system more efficient for them.
ng employees from the other factory.
At the end of the year, lythouse risk matic platform helped them earn revenue of 50 crores, timely receiving of alerts was one of the major factors of avoiding such losses. Along with risk alerts, Communication was one another area where company was lacking.