ToolingIQ
Reduce cost, eliminate lengthy tooling-related disruptions, predict tooling end-of-life, and accurately forecast your capital needs.Supplier Risk & Compliance
With the Rhythm platform, stay ahead of the risk curve and ensure your suppliers are compliant with the latest requirements. We make it easy for you to collaborate, increase efficiency, and achieve insights faster than your competition.
Dynamic & Challenging Environment
At Rhythm, we’re aware that the Supply Chain environment changes by the second. That’s why we’ve designed a platform that allows you to quickly collect risk & compliance insights faster than your competition, combining the information with your existing data. While your competitive set is struggling to bring complicated sets of data together to take action, you’re on the way to creating an advantage for your business.
Meet ToolingIQ, the intelligent way to manage your tools
Insights to Action
Supplier Regulatory Compliance
Quickly reach out to suppliers with simple, intuitive surveys or acknowledgements to ensure regulatory compliance. Use Rhythm’s pre-created templates or import your own – it’s your choice!
Supplier Product Compliance
Obtain key responses from suppliers on product compliance at the part number level and combine insights from compliance platforms in your current software landscape.
Supplier Cyber Security
Use Rhythm’s pre-created templates to measure Cyber Security risk with your suppliers and flag outliers for action or escalation. Automatically keep track of supplier ISO/IEC 27001 certifications.
Supplier BCP Readiness
Are your suppliers ready in case of emergency? Understand and rate their plans with in-depth, ready-made assessments and the ability to collect and maintain your supplier’s BCP process documents.
ESG/Sustainability
Facilitate your annual Supplier Sustainability Survey through Rhythm. Measure year over year progress, automatically hold suppliers responsible to project timing and use insights to calculate emissions reduction.
Supplier Quality Maturity
Use Rhythm’s Platform for supplier self-assessments, on-site audits, and corrective action follow-ups. Measure repeat incidents, settle cost recovery claims, and ensure enterprise wide visibility to actions taken.
Supplier Financial Risk
Keep your supplier insurance documents current with our self-service Supplier Portal. Integrate with leading third party risk monitoring services to provide part-level risk analysis.
Supplier Capability Studies
Through self-assessments and audits, rate your suppliers’ ability to cope with your business growth needs and to aid sourcing decisions. Allow suppliers to submit expansion details and concerns through the portal.
Supplier Governance
End the email process of distributing your latest Code of Conduct and see real-time acceptance levels from suppliers. Obtain proof that your suppliers are meeting your governance requirements, track actions.
Customers appreciate a supplier who actively manages their business. With ToolingIQ, be the responsive and responsible supplier your customers want.
How The Rhythm Platform Reduces Supplier Risk & Increases Compliance
Intelligence at Your Fingertips
Rhythm combines information from your native systems along with insights collected & created in the Platform. Say goodbye to running reports in various systems and patching them together to obtain answers.
Work Together – Internally & Externally
Supplier engagements can be complex and technical. With the Rhythm Platform, collaborate among multiple internal & external team members to obtain the responses and drive the action you need – quickly.
Part Level Integrations
With risk and compliance, it’s often important to drive insights down to the part level or, conversely, up to the customer. This helps you take action to avoid disruption or to respond to customers faster than your competitors.
Instant Collaboration
Risk & Compliance concerns often cannot wait. Segment your suppliers in Rhythm’s Platform as easily as you would on a spreadsheet and engage with them via Rhythm’s core assessments and communication functionality
FAQs
What is Tooling?
Tooling is any type of fabricated product that is then used to make other goods. Examples can be jigs, fixtures, stamping dies, mold tools, die-cast tools, extrusion heads, etc. Essentially, tools can attach to a piece of manufacturing equipment to create a specific product.
Why is Tooling so critical?
Tooling is critical because tt is often custom-made and creates or relates to a specific product. Tooling often has a very long lead-time, cannot be replicated quickly. It is expensive, capitalized, and competes in the budget process with other Capital Equipment items such as machinery. It also requires a high level of technical understanding to design, create, maintain, and repair.
What are the consequences of a disruption caused by Tooling?
Quite simply:
No tool = no production = no delivery = consequences (loss of business, customer satisfaction, cost)
How can ToolingIQ help companies reduce cost?
- ToolingIQ can help predict when tools need maintenance, repair, or replacement. A company can then prepare for an outage by ordering parts ahead of time and stocking while the fix is completed. Or, a replacement tool can be kicked off early enough to avoid disruption.
- With its early warning system on tooling end of life, ToolingIQ allows Procurement professionals to begin the quoting and negotiation process much earlier. Realizing the need for a new tool too late reduces leverage. A buyer must place the replacement tool with the same supplier due to a lack of time to revalidate at a new, possibly more competitive supplier.
- Similarly, a lack of early warning on replacement tools does not allow engineering to design a new, possibly more efficient tool that lowers the cost per unit. If timing is too tight, end customers will often demand that the same tool design is used for replacement tools.
Discover more about Rhythm's Supplier Risk and Compliance Management Solution.
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