Robert L. Sobel of Cook, Hall, and Hyde outlines how shippers can benefit from trade disruption insurance.
Supply chains are heavily dependent on information technology (IT) systems, but are difficult to secure because they often involve multiple networks working together.
Most companies have insurance to protect their property and equipment, their vehicles, and their operations from disruptions due to natural disasters and other events. For companies with extensive supply chains, cargo insurance can be an important addition to this list.
A North Carolina hospital improves patient care by prescribing a lean and healthy supply chain.
Readers reveal the issues that could disrupt the supply chain…as well as their sleep.
Shippers need to understand the claims process and law since the legal principles are unique to the shipping industry.
How prepared are companies for supply chain disruptions such as fire, a data breach, natural disaster or terrorism? Not as prepared as you’d think, considering what’s at stake.
Supply chain fraud remains significantly under scrutinized within many companies. Use these tips to help handle supply chain fraud.
South Korean ocean liner Hanjin Shipping files for bankruptcy protection in a dozen countries; Few respondents to a GT Nexus survey say they have a chief supply chain officer on hand who would be equipped to deal with supply chain disruptions; Maersk splits its transportation and oil businesses
It is never too late to improve your safety operations. The changes you make today will reduce your liability exposure for an accident that happens tomorrow.
As professionals who understand the entire process of manufacturing, shipping, and marketing products, and who recognize that suppliers can be closely aligned with the company’s goals and objectives, chief procurement officers help define a company’s competitive advantage.
Denied party screening is of critical importance in shipping and international trade, and essential for minimizing business risk today.
The 2016 Allianz Risk Barometer identifies top 10 risks for global companies.
So how prepared is your business to withstand a crisis? Effective risk analysis and crisis preparation is an essential strategy.
Shippers unprepared for supply chain disruptions; China wants pirate hunting base in Horn of Africa; bringing cargo into Kenya; India ramps up transportation infrastructure development; air cargo carriers seek to cut costs without sacrificing growth; Amazon invests in India; China’s greenest supply chains; international shrimp supply chain linked to human trafficking and slavery; World Trade Organization rules to abolish agricultural subsidies; Mexico and U.S. sign liberalized air transport deal; global manufacturers shift production to Bangladesh, Thailand, Korea and Vietnam
Logistics has evolved into a strategic business concern, driving enterprises to seek third-party logistics (3PL) providers with multi-modal capabilities for complete end-to-end integration.
Waiting until next week, next month, or next year to address your company’s supply chain vulnerability is a serious mistake, with potentially catastrophic consequences. Use these tips to prepare for potential supply chain disruptions.
Supply chain continuity planning is critical for global businesses. Armed with an end-to-end digital model of their supply chains, shippers can react rapidly and intelligently when unplanned events occur.
An on-board video solution helps fleet managers review driver performance and improve fleet safety.
Freight damage, loss, and theft will always occur. Planning for those inevitabilities is key to prevention and faster claims settlement.
When downtime impacts a company’s line, outsourcing technology infrastructure to a third party might help.
Enabling a holistic, integrated approach to managing global supplier risks allows companies to minimize risks, protect brand integrity, and reduce supply chain costs.
It is essential to have damage prevention measures in place for racking systems to avoid employee injury and minimize loss.
Before entering the international trade arena, shippers must understand the stakes involved in regulatory compliance.
Managing supply chain risk means recognizing that things won’t always go according to plan, and having the right infrastructure in place to succeed even through the unexpected.
This article looks at issues that companies should consider when developing a more resilient supply chain.
Carriers need to be ready to keep freight moving no matter what gets in the way.
With the holiday season in full swing, logistics managers must be able to rely on their vendors to perform.
All companies should incorporate a business continuity plan into their operation so they are never unprepared for a disruption.
Plan now to avoid supply chain disruptions from the latest Icelandic volcano eruption; Australia struggles with home delivery challenges; EU and China sign landmark customs agreement.
Google and Barnes & Noble partner to provide same-day book delivery; Shippers prioritize day-to-day problem-solving over contingency planning; APICS and SCC merge; Transplace identifies four areas key to preferred shipper status
Properly prepare shipments and test packaging to prevent product damage and returns.
Partnering with an expert can help retailers ensure they comply with hazardous waste regulations.
Companies must not only mitigate supply chain risk, but also understand the logistics of global recall management.
Supply chain contingency planning can help automotive manufacturers protect their operations.
Clear transportation management strategy and technologies allow companies to deliver superior service at lower cost.
Ax Torres supervises outbound shipping at agricultural machinery company AGCO Corporation.
Companies make contingency plans to prepare for possible supply chain disruptions caused by port labor negotiations.
Collaborative risk management helps automakers and their supply chain partners protect against disruptions.
Shippers protect against supply chain disruptions with physical, analytical, and financial risk mitigation strategies.
Supply chains must develop strategies for reducing risk related to climate change, such as drought and extreme weather.
Actionable tips help you revitalize your warehousing, 3PL, trucking, and global logistics operations.
Global dry-bulk commodity trade reveals rate growth, steadying inflation in China; Preparations for 2022 World Cup trigger DC explosion in Qatar; Supplier risk analysis will become more complex as companies expand into new global markets; Pakistani protests force U.S. military drawdown to consider $1 billion airfreight alternative; Asia truck bans taking toll on logistics industry; Africa’s piracy problem shifting to continent’s west coast; Trans-Pacific Partnership pact stalls, 2014 ratification expected; China’s Nicaraguan Canal stirs intrigue; Tesco acquires stake in “Asia’s Amazon”
Cloud-based predictive analytics increasingly available to more companies of all sizes; RFID market set for robust growth by 2020; supply chain risk mitigation should be priority for all companies; key trends driving change for enterprises and government in 2014
When supply chain disruptions occur, logistics managers must use leadership skills to maintain operations.
Collaborate with suppliers to manage supply chain risks with the highest potential to occur and risk of business impact.
C-TPAT certification lets businesses support national security and improve their own supply chain operations.
Shifting manufacturing operations in Asia back to North America provides companies more control of their supply chains, says Steve Sensing of Ryder Supply Chain Solutions.
Technology management can affect warehouse operations’ connectivity during and after a power outage. Whether the facility’s warehouse management system (WMS) is installed on-site, delivered via a Software-as-a-Service (SaaS) program, or hosted in the cloud can have a huge impact on maintaining productivity, writes John Sterling of Foxfire Software.
Supply chain management experience is vital to corporate risk management planning, write Carlos Alvarenga of Accenture.
The ability to minimize supply chain risk and prevent disruptions depends on strong supplier relationships and well-developed contingency plans, says Chris Cameron of Elemica.
Understanding transportation liability is not just for lawyers any more. Shippers need to pay closer attention to contract language and the details of shipper and carrier insurance policies.
Lorcan Sheehan of ModusLink discusses some of the lessons businesses have learned that help mitigate supply chain risk during the peak season.
Planning for exceptions can help shippers prevent supply chain disruptions in the wake of a natural disaster.
Successfully moving freight into challenging areas requires an abundance of preparation and due diligence, test runs, and contingency plans to make sure moves happen without a hitch.
When supply chain disruptions arise, shippers need to react quickly—without incurring undue costs—to keep production in line with demand.
Logistics professionals and companies should adopt and continuously update a risk-based export compliance program to minimize facilitation risk, writes Michael E. Burke of Arnall Golden Gregor.
Supply chain visibility helps flag upcoming supply or demand problems, allowing a company either to take action to prevent disasters or to respond by activating backup plans, writes George W. Prest of Material Handling Industry of America.
Risk management strategies must address the everyday sources of supply chain disruption, and managers must incorporate the identification of potential supply chain risk into their daily practices, writes Mark Humphlett, Infor.
Reduce your transportation insurance premiums by investing in loss prevention measures, partnering with reputable logistics providers, and keeping your insurer informed about your operations, says Barry Tarnef of Chubb Group of Insurance Companies.
Multinational corporations are gambling on the Latin American market's growth potential. But meeting the region's supply chain challenges requires an understanding of local markets, strategic planning, and strong partnerships.
Supply chain disruptions become more manageable when shippers have supply chain technology that provides shipment visibility, writes Henry Hicks, Progress Software.
Incoterms are an internationally accepted set of standard commercial terms used between buyers and sellers. J. Anthony Hardenburgh of Amber Road helps shippers understand these rules.
Shippers can avoid load board scams by taking the time to research the companies with which they do business, writes Jeff Vielhaber, TTS.
Managing risk in the supply chain requires that shippers address issues such as product safety, environmental concerns, labor management, and social responsibility.
Retailers can implement technology and processes to increase traceability and gain greater visibility into their supply chain, which helps track and retrieve products in the event of a product recall, writes Brendan Lowe, Aldata Solution.
Well-defined business practices, thorough contracts, physical security, and active planning, help mitigate supply chain risk.
Dr. Jeff Karrenbauer of supply chain solutions provider INSIGHT offers tips for protecting against supply chain disruption.
Curt Shewchuck, chief security officer, Con-way Freight discusses how the carrier's security protocols helped avert a terrorist threat.
Barry Tarnef, senior loss control specialist for Chubb Marine Underwriters, outlines strategies for reducing risk when shipping large machinery.
As you enter into new global business relationships, you can protect yourself from unnecessary penalties by knowing your customer.
Danny Halim of JDA Software offers strategies for minimizing risk in the global supply chain.
Chandler Hall of BravoSolution explains how to reduce the frequency and severity of disruptions by fostering collaborative relationships with your suppliers.
Increased regulation in the form of CSA 2010 affects not only truckers, but also freight brokers providing insurance, according to Mike Williams, chief operating officer, Sunteck Transport Group.
Faced with transportation interruptions caused by the April 2010 eruption of an Icelandic volcano, European express carriers TNT and DHL activated contingency plans; LCD television manufacturers control spending by bringing production in-house; Inventory-in-sales ratios rise across the supply chain; Wholesaler Arrow Electronics acquires reverse logistics companies; Google helps consumers match demand to in-store supply
Warehouse risks and vulnerabilities are increasingly complex, and many policies simply aren’t keeping up with today’s sophisticated new systems and regulations.
Make sure issues that can disrupt your supply chain are limited and infrequent. Here are several predictable and unpredictable risks that you should plan for:
In a globalized economy where finalized products have components manufactured all over the world, effective management of supply chains is critical. Adopt these habits to reduce and mitigate risks faced by supply chain parties.
Growing cargo thefts across Germany, resulting in product losses valued at $1.3 billion annually, have prompted business associations in the country to launch a joint initiative to tackle the problem.
The 2017 hurricane season serves as a risk management wake-up call.
High-performing supply chain organizations are differentiated on how well they respond to the unexpected.
Global trade disruptions come in all shapes and sizes, and can wreak havoc on supply chains. Find out what proactive strategies and tactics leading companies are using to tackle the escalating challenge of supply chain risk management.