Articles
Risks and Rewards: Risk Management Strategies
Europe Raises the Compliance Bar. Is Your Supply Chain Prepared?
Sweeping regulatory changes in the European Union (EU)are raising complex questions for businesses and introducing new tensions along the world’s supply chains. Manufacturers and importers will soon be tasked with reporting the origin of some metals and materials used in their products. They also will be responsible for disclosing aspects of their suppliers’ human rights […]
Read MoreIs Your Business Prepared for the Worst?
Disasters and tragedy happen every day. From fires and theft to severe weather events, we experience disruptive incidents on a regular basis. So how prepared is your business to withstand a crisis? How well have you incorporated risk analysis and crisis preparation into your business operations? Effective risk assessment depends on using our imagination to […]
Read MoreSerialization: It’s the Real Thing
To help combat counterfeiting, the premium beverage industry is taking advantage of serial numbers on product packages to uniquely identify products for increased connectivity throughout packaging operations and the supply chain. Premium beverages such as expensive wine, whiskey, and cognac have become an increasingly active market for counterfeiters in China, India, and Russia. It’s easy […]
Read MoreThree Steps to Mitigate Supply Chain Risk…Now
A supply chain vulnerability and risk assessment should be an integral part of any overall supply chain strategy analysis. Unfortunately, this is rarely the case. Many businesses don’t address supply chain vulnerability and aren’t prepared for potential supply chain disruptions due to either random acts of nature or deliberate actions. The recent West Coast port […]
Read More6 Global Supply Chain Challenges To Ignore at Your Own Risk
Along with the many benefits that come from sourcing outside the United States, such as low-cost manufacturing, several issues must be properly managed to ensure a successful supply chain. Finding a rock-bottom price in China or India is not the problem, but landing great costs while avoiding distance, timing, quality, and language problems can be […]
Read MorePreparation: Your Best Asset in Managing Supply Chain Disruptions
Supply disruptions occur daily, caused by delayed deliveries; weather impacts on inbound supply; and prolonged standstills associated with natural disasters, port labor strikes, or critical supplier failures. Whatever the reason for the disruption, supply chain managers prove their value by delivering—no matter the circumstances. An active risk management process helps identify a range of possible […]
Read MoreAvoid Big Losses When Shipping Big Machinery
In their journey from manufacturer to customer, large pieces of sophisticated machinery often sustain costly damage due to lack of care and attention in packaging and handling. The losses, however, often go beyond the machinery’s value. Businesses can also suffer significant production shortfalls if their facilities grind to a halt as they wait for replacement […]
Read MoreDo You Know Who You’re Doing Business With?
Q: My company’s cargo volumes are increasing now that the economic slowdown is beginning to turn. We are receiving orders from new customers we developed through international marketing efforts. What should we look for when screening new clients? A: As you enter into new business relationships, it is important that you know your customer. Five […]
Read MoreNew Year, New Insurance Review
The start of the new year is the time to make resolutions, and risk managers should resolve to review their operations to ensure that risk and insurance programs are in order. Your risk review should address several key questions: Are you planning to offer new services? If so, consider your insurance obligations before the transaction […]
Read MoreEmbargo Violations: Ignorance is No Excuse
Q:I recently read that DHL paid a $9.4-million fine to settle a claim by the United States for violations of sanctions against shipments to Iran. Can you discuss what happened and how I can avoid a case like this? A:The case you refer to was an action taken by the U.S. Treasury Department regarding 309 […]
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