Articles
Risk Management
5 Tactics for Managing the Unexpected
No supply chain is immune from risk, and the farther a company’s supply chain traverses the globe, the more opportunity for things to go awry. Companies can take proactive steps to ensure they won’t be blindsided by sudden changes to their supply chain. Taking out a credit insurance policy from a credit insurer is just […]
Read MoreMitigating Cargo Theft Risk
Cargo theft continues to be a challenge to shippers, totaling an estimated $145 million in losses each year in North America. 1. Develop a plan. Establish security procedures for carriers hauling your freight. Ask drivers not to stop within the first 250 or 300 miles of pickup unless there is a real emergency. It’s not advisable […]
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German Trucks: It’s a Steal
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. Physical cargo carried onboard almost 26,000 trucks is stolen in Germany every year, averaging a new attack on a truck every 20 minutes, according to […]
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You Can’t Control Mother Nature, But You Can Be Ready For It
For senior financial executives at large U.S.-based companies with operations in Texas, Florida, or Puerto Rico, the 2017 hurricane season served as a risk management wake-up call. Commercial and industrial property insurer FM Global surveyed these executives at companies with more than $1 billion in revenue and found: Nearly two-thirds (64 percent) of respondents say […]
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Global Trade Disruption: Managing the New Normal
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 use to tackle the escalating challenge of supply chain risk management.
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How to Prepare for the Unexpected
Disruptions are part of our world. Weather, labor strikes, materials shortages, and demand spikes or valleys are simply part of doing business. High-performing supply chain organizations are differentiated on how well they respond to the unexpected. Moments when things don’t go well should remind anyone involved in the intricate and complex supply chain process to […]
Read MoreGlobal Supply Chain Risk: Don’t Wait, Mitigate
Having a global supply chain risk management strategy in place can not only increase value to your customers but also reduce your costs and increase performance. Companies globalize supply chain management to increase competitive advantage, add value to the customer, and reduce costs through global sourcing. But global supply chains also increase risks from considerations […]
Read More7 Tips to Driving a Strong Safety Culture
A USA Today article reported that Tesla’s worker injury rate was 31% higher than the industry average in 2015. Tesla CEO Elon Musk has pledged to change this, and in an email to his employees, he stated that he will personally carry out the job of an injured employee to assess the dangers first-hand. He […]
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High Value, High Risk: How to Make Sure Your Cargo is Protected
If your company is shipping a load valued at $100,000 or more, you should take every step possible to make sure your cargo is protected. Here are five ways you can greatly lower the risk of losing hundreds of thousands of dollars from a failed shipment. 1. Check your insurance coverage. First, you need to […]
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Commentary: Mitigating Supply Chain Risk
Think of shipping cargo like a financial portfolio: It’s important to diversify. That’s because there are inherent risks when shipping via air and ocean: delays, damaged cargo, weather events, etc. Cargo insurance, though critical, isn’t always enough to protect you and your business. You need a plan that covers all the predictable and unpredictable risks, […]
Read More7 Solutions to Mitigate Global Supply Chain Risks
In a globalized economy where finalized products have components manufactured all over the world, effective management of supply chains is critical. Each party in the supply chain is dependent upon the other parties performing their responsibilities. If one party fails to perform its responsibilities the consequences can cascade both up and down the supply chain, […]
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5 Steps to Protect Your Supply Chain From Cyber Threats
With cyber threats affecting organizations worldwide, warding off cyber attacks and protecting against cyber espionage is becoming a top priority across industries. Manufacturers, distributors, and organizations, however, are not doing enough to make supply chains more resilient and prepared. Whether your business is large or small, a startup or 40-year veteran, major security issues stem […]
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5 Ways to Cut the Risk of Cargo Theft
Risk models provide a key advantage to firms operating globally, and are the first step in identifying key trade lanes, business partners, and the areas most likely to cause harm. The more you know, the easier it is to manage the risk. While risk modeling is an important part of the Customs-Trade Partnership Against Terrorism […]
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Caldwell Hospital Gets a Lean Bill of Health
A North Carolina hospital improves patient care by prescribing a lean and healthy supply chain.
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GOOD QUESTION | What’s your supply chain resolution for 2017?
“We need to double down on technology. Global supply chains are a chess match, and everyone still seems to want to play checkers with Excel spreadsheets, emails, and phone calls. I’m going to use technology to become Bobby Fischer.”
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Expect the Best, Plan for the Worst & Prepare to Be Surprised
It’s not if your supply chain will be disrupted, it’s when. Risk assessment and advance planning will help minimize the impact on business.
Read MorePreventing Supply Chain Fraud
The consequences of supply chain fraud can be severe, yet many companies significantly under-scrutinize their processes. Smart companies have practices in place to help pinpoint and prevent fraud. Wade McDaniel, vice president of supply chain solutions, Avnet Inc., offers the following insight and recommendations to help your company address supply chain fraud. 1. Admit you […]
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Global Logistics—October 2016
Overcapacity Problems Sink Hanjin Shipping Right in the middle of the peak ocean shipping season leading up to the U.S. holiday rush, South Korean ocean liner Hanjin Shipping filed for bankruptcy protection in one dozen countries in late August and early September 2016. Hanjin is the world’s seventh-largest ocean carrier, and handles nearly 8 percent […]
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Accidents Happen: Is Your Transportation Partner Prepared?
When a personal injury or wrongful death lawsuit is brought against a commercial transportation company after a motor vehicle accident, creative lawyers are increasingly including negligence claims. Such claims focus attention on how the transportation company hires, trains, supervises, and disciplines its drivers. Falling short in these practices can form the basis for a jury […]
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Supply Chain Management Takes Center Stage
The supply management function is in the spotlight as a key driver of profitability. Approximately 82 percent of all chief procurement officers (CPOs) report directly to their CEOs, according to CAPS Research. CPOs have reach, influence, and responsibilities that go far beyond the cost containment practice of the past into virtually all areas of a […]
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