Curo Construction takes data-driven supply chain decisions with Risk Radar

Risk Radar is playing a powerful role in helping Curo Construction (Curo) identify, track and minimise risk throughout its supply chain.

Challenge

As a main contractor that procures and delivers fit-out, refurbishment and new-build projects across a wide range of sectors, Curo has enjoyed steady growth throughout its ten-year history. But with opportunities accelerating in recent times, Curo needed to improve how it manages and nurtures its supply chain.

“Curo saw a valuable chance to reorganise its supply chain,” explains Carl Blanks, Curo’s new Head of Supply Chain Management and Procurement. “There was a gap between the company’s growth and available supply chain. Previously, the supply chain was being managed through word of mouth and past contracts – which is great because it shows loyalty – but there were clearly opportunities for this approach to be improved.

“There was recognition within the business that a more centralised procurement and supply chain management system was needed.

“Curo has grown exponentially, and, as such, our supply chain has grown with us,” he explains. “However, some subcontractors have been more capable than others.

“In the past, there’s been instances where a subcontractor has fallen by the wayside mid-contract. With the right platform and processes in place, Curo could have seen these potential fault lines and possibly not gone with those subcontractors, saving a lot of hassle and headaches.

“On that occasion, Curo chose to take responsibility for the package itself, but if we had wanted to re-tender that job then that would have cost us a lot more money.”

Solution  

To avoid these problems in the future, Curo required a system that could foresee these potential risks and help ensure they’re mitigated.

By implementing Risk Radar, Curo is now empowered to take control of potential threats throughout its supply chain through accurate data and insights, and the ability to track risk throughout the lifecycle of a project.

“For contractors, Risk Radar is a tool that you cannot be without.”

Carl Blanks, Head of Supply Chain Management and Procurement at Curo

In essence, Risk Radar provides unparalleled insight into the risk profile of Curo’s supply chain. Intuitive dashboards and reports make it easy for Curo to adopt world-class supply chain risk management policies and practices. This approach means Curo can dramatically reduce the cost and effort of assessing, understanding and managing risk across projects and its supply chain.

Through advanced use of AI, Risk Radar combines and contextualises proprietary and publicly available data, so Curo can access meaningful insights that support decision-making and minimise risk.

“For example, just recently, we ran a Risk Radar report on the financial health of 400 companies within our supply chain,” says Carl. “The majority were stable, but the report highlighted a number of anomalies for several businesses, which we were then able to investigate further. Risk Radar provides a powerful means of making us aware of what’s going on in the background with the businesses we’re working with, so we can tackle any potential risks head-on.”

Where does Risk Radar take its insights from?

• Financial intelligence from a database of over 45,000 suppliers – including those below the £10.2 million threshold of Companies House

• Event and incident data from the Information Commissioner’s Office, the Health & Safety Executive and the Environment Agency

• Information held by the UK Employment Tribunal

• Contagion risk insights from over 300,000 contractor and subcontractor connections

Embedded visualisation tools allow Curo to easily view and understand the risk profile of suppliers and subcontractors, so any potential financial or reputational issues can quickly be addressed before they become a bigger problem.

For the next generation of construction professionals, Carl says tools like Risk Radar are exactly the kind of data-driven solutions that future talent expect in the workplace.

“Younger people in construction, who typically possess greater technical skills and competencies, need data-driven systems like Risk Radar. They don’t want to look at a dozen resources to access the necessary information. They want data and insights to be readily available, which is what Risk Radar equips them with.”

To support the uptake of Risk Radar across Curo, Constructionline has run a series of training sessions to demonstrate its full capabilities and answer any questions.

Results

Risk Radar is giving Curo the power to reduce its reputational risk with accurate insights into a supplier’s financial, ethical, environmental and safety performance.

“Risk Radar is helping transform how Curo manages risk,” concludes Carl. “In comparison, the information on many other tools is out-of-date as soon as it’s advertised. In contrast, Risk Radar’s data is always completely up-to-date.

“My advice to other contractors would be to stop using the old methods of Companies House or credit check businesses, and instead take a strategic approach to strengthening your supply chain with Risk Radar.”

Are you ready to elevate your Risk Management strategy? Book your spot for a Risk Radar demo and let’s build success together!