Risk Management

This report—prepared by Guardian Six Consulting LLC for the Alliance for American Manufacturing—recommends 10 actions to make America less dependent on foreign nations for the vital products that enable America’s soldiers, sailors, airmen, and Marines to be the most powerful and effective fighting force in the world.

Organizations should consider how the costs of managing risk balance out with potential lost revenue and damage to reputation that can result from a disruption to operations caused by a natural disaster or political instability in key supplier regions. To be a global business, supply chain risk management is a necessity. The key is to determine how to do it efficiently and effectively.

This article looks at how advancements in information systems affect situation awareness in disaster management. The article considers the collection of intelligence, the collation of those observations into a common operating picture and distribution of awareness updates in a form that can drive effective action.

Supplier risk management has now become imperative. Executives are becoming increasingly aware of the risk these supply chain disruptions pose to their bottom lines, brand reputation, and stock value. IHS can help you prepare for and respond quickly to supply chain disruption – from everyday risks of doing business, to navigating dangerous supply chain floodwaters.

Supply chain disruptions are inevitable after large-scale disasters and political unrest. While they’re unavoidable, the more companies can do to improve their supply chain visibility and agility, the better prepared they are to mitigate the impact of disaster as well as navigate around the daily disruptions, such as market fluctuations in capacity and pricing.

A New Mexico jury awarded the family of a person killed in a 2010 truck involved accident $58.5 in damages. Beyond a moral responsibility to hire safe carriers that share the road with our neighbors and loved ones, shippers are getting a slap on the wrist in a big way – to the tune of millions of dollars – for not exercising due diligence in the sourcing of their carriers.

While Hurricane Sandy continues to wreak havoc in the Northeast and Mid-Atlantic regions of the United States, a new focus on risk mitigation is sure to take hold.

Dealing with challenges and the unknown is considered a given for supply chain and logistics managers. When the unexpected happens, it is imperative that they are taking steps to manage risks in an efficient and proper manner. But according to a report from Accenture and the World Economic Forum, entitled “New Models for Addressing Supply Chain and Transport Risk,” that is not always the case.

There's an ancient Chinese legal concept known as “Lian Zuo” or the “Five Degrees of Culpability."