Supply chain risks remain a key source of uncertainty for manufacturers, and are made worse by volatility in tariff and trade policy, which can significantly impact the import of commodities and raw materials. When supply chains become unreliable, manufacturers can find themselves at serious risk of failing to fulfill orders, leading to breach of contract and potentially losing major customers. With Lumivero’s software solutions, firms can optimize multiple suppliers to minimize failure points and maximize the probability of deliveries, as well as identify high-risk areas in the supply chain that require mitigation strategies.

Accurate estimates for the costs of research, materials, fabrication and labor are essential when quoting massive aerospace and defense projects. Labor shortages can arise with strikes or as a result of geopolitical events, and finding and retaining skilled labor, which is often required to run today’s technologically-advanced factories, remains a challenge. With Lumivero’s quantitative analysis software, contractors can get a realistic, probabilistic estimate of materials and labor costs throughout the entire design and build process, as well as understand the likelihood of going over budget under a variety of scenarios.

Whether it’s a refrigerator or a jet engine, you can’t count on delivering your orders on-time if you depend on ill-maintained machinery—or if safety issues cause even one worker accident. Innovations in technology and automation present huge opportunities as well as risks to manufacturers. Internet-connected machinery, predictive maintenance, and automated inventory management are top priorities for manufacturing executives. Reliability and safety are equally important considerations, as the risk of failure – either of machinery or finished products – can put human lives on the line. Lumivero software solutions can provide you insights into confidence levels around the risk of equipment failure or safety violations, letting you identify areas of weakness to ensure quality results and prevent failures.