Risk Management Archives - Supply Chain Game Changer™

How Data Analytics Boost SOCI Compliance in Supply Chains!

How Analytics Enhances Data-Driven Decision Making in Supply Chain Training!

In today’s interconnected world, securing critical infrastructure is paramount to safeguarding national interests and ensuring the uninterrupted flow of goods and services.

The Security of Critical Infrastructure Act (SOCI) represents a pivotal legislative framework designed to fortify the resilience of vital systems against emerging threats. Within this framework, supply chains emerge as a focal point for bolstering security measures, given their intricate network of dependencies and vulnerabilities.

Risk Management Essentials: Tips for Safeguarding Your Small Business!

Supply Chain Risk Management is a Cirque Du Soleil Calibre Act!

Running a small business can be a rewarding venture, but it’s not without its share of risks. From economic downturns to unforeseen problems, small businesses often face a variety of challenges that can threaten their stability. To navigate these challenges and protect your small business, effective risk management is crucial.

In this article, we will explore key risk management essentials and tips that can help you safeguard your small business from unexpected issues and maintain long-term stability. From leveraging specialized tools like inventory software to creating a comprehensive risk management plan and staying financially prepared, these strategies will empower you to protect your business.

Supply Chain Scams and Fraud!

3 Most Common Freight Forwarding Scams (and How to Avoid Them)! (Infographic)

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Very early on in my career an associate of mine was fired because he was found to be taking kickbacks from packaging suppliers to whom he had been preferentially and inappropriately been giving business.

Most recently I have received lots of emails and messages from unknown people offering to sell me masks and other personal protective equipment (PPE) for really low prices. A cursory investigation into some of these finds that the items are substandard at best, and the commensurate price gouging during the pandemic reeks of fraudulent behaviour.

One of our most popular articles is Freight Forwarding scams. Every couple of weeks I will get an email from someone, from anywhere in the world, who has been the victim of a freight forwarding scam, and is looking for help.

All of this, and more, has caused to me consider that this is a very important, very real, and very prevalent issue. So let’s discuss Supply Chain scams and fraud.

Mitigating Supply Chain Disruptions from Water Damage!

Protect Your Business From Flooding (and other Natural Disasters)!

When it comes to the topic of water damage, there’s a crucial need for knowledge sharing and personnel training. A big part of supply chain disruption mitigation is actually rooted in awareness.

To put it simply, you cannot resolve a problem you are not aware of or do not fully understand.

Growing Your Insurance Agency in the Era of Frequent Supply Chain Crises!

Coronavirus Exposes Global Supply Chain Fragility!

Back in 2020, mankind had to deal with a threat it never saw coming. As COVID wreaked havoc across the globe, chaos and uncertainty shrouded over the business world.

According to the World Economic Forum, the pandemic resulted in one of the biggest supply chain crises the world has ever seen. Even today, almost three years after the pandemic started, its impact on the global supply chain is still evident.

Top 10 Global Supply Chain Risks

Inventory Turnover Breakthrough … Go Back To The Basics!

Change is inevitable in modern supply chain management, and risk management is essential to success. Supply Chain risks evolve and become more prevalent with time.

Risk management strategies of yesteryear are ineffective in the changing landscape, and no type of transport can avoid risks.

Risks exist in land, air and ocean freight. They’re inevitable and unavoidable. Poor grasp of hazards in your supply chain will increase freight spend and diminish brand value.

Understanding the top 10 global supply chain risks can work to reduce their impact.

Securing Supply Chain Insurance Against Disruption and Losses!

Coronavirus Exposes Global Supply Chain Fragility!

In today’s global economy, supply chains are an essential component to the success of many businesses. Ensuring that these complex networks operate smoothly is a top priority for companies.

However, there can be numerous risks and disruptions lurking within supply chains, potentially leading to significant financial losses.

Common Challenges for Plant Managers: Navigating the Path to Operational Excellence!

Global Process Excellence™: Defining the Roadmap for Best In Class Results

Plant management is an integral function of the manufacturing and production industry, where it plays a role in ensuring operational success. Yet, plant managers often encounter a host of challenges that can hinder their ability to achieve excellence in their roles.

In this blog post, we will delve into the various challenges faced by plant managers and explore strategies to overcome them.

When Disruption Strikes: Navigating Insurance and Supply Chain Challenges!

Disaster Strikes!!! Is Your Supply Chain Ready To Recover?

In the bustling city of Fort Lauderdale, where the ebb and flow of trade and commerce intersects with the tumultuous whims of nature, the role of insurance specialists becomes a focal point.

These experts are crucial, especially if you need a public adjuster in Fort Lauderdale, to ensure that supply chains remain resilient amid the unexpected. They operate as the unseen heroes, adeptly balancing the aspects of risk mitigation and aid in recovery.

Their expertise paints a comprehensive portrait of an indispensable role within the supply chain ecosystem, guiding businesses through the complexities of disruption and navigating insurance and supply chain challenges with a steady hand.

Small Business Risks in Accepting Cryptocurrencies!

All You Need to Know About Cryptocurrency!

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As Bitcoin’s dramatic increase to over $50,000 a coin sparked a massive explosion in digital currencies and pervasive curiosity in blockchain-based technology, cryptocurrency exploded into the mainstream. Bitcoin’s price has remained been increasing and interest in cryptocurrencies has remained high, creating small business risks.

Is bitcoin, on the other hand, appropriate for small businesses? Before declaring that you would support bitcoin, there are some severe concerns to remember – both technological and realistic.

Discover the Extensive Benefits of Business Continuity Software!

Risk Management Essentials: Tips for Safeguarding Your Small Business!

In the ever-evolving realm of business, the certainty of disruptions underscores the paramount importance of proactive preparedness. Organisations need a robust strategy to navigate challenges seamlessly, whether triggered by natural disasters, cyber threats, or economic shifts.

Business continuity software emerges as an indispensable asset, providing a structured and strategic approach to resilience.

This comprehensive exploration will delve into the extensive benefits that make business continuity software a linchpin for organisations striving to fortify their operations against unforeseen challenges.

Supply Chain Risk Management is a Cirque Du Soleil Calibre Act!

Disaster Strikes!!! Is Your Supply Chain Ready To Recover?

Recently we took our Granddaughter to see a Cirque du Soleil show. While we had seen several Cirque shows before it was her first time. The show made an indelible impression on her. She talked about it for weeks and will remember it for the rest of her life. We were proud that we gave her such a lifelong memory.

In thinking about the show and its construct I thought about the incredible amount of risk that the performers and producers are managing. These world class performers have astonishing talent but they are also working in an environment designed to eliminate risk and maximize safety.

Supply Chain Professionals, although not usually theatrical like Cirque du Soleil, also work in an environment in which they are managing a tremendous amount of risk. While most jobs are not life threatening the level of risk is still prevalent.

What are the risks that Supply Chain people deal with every day and what is Supply Chain Risk Management?

Where Should Supply Chain Time Be Spent After the Pandemic?

10 Vital Supply Chain Lessons from the Coronavirus Pandemic!

The Coronavirus pandemic has disrupted every aspect of our lives and the global economy. From shortages of toilet paper to personal protective equipment (PPE) to lockdowns of businesses and channels of every form, Supply Chain has been at the epicentre of this disruption and it has consumed all Supply Chain time.

The pandemic has caused Supply Chain professionals to scramble to restore supply lines, respond to highly volatile demand patterns, find alternate logistics channels, and work under the restrictions of home quarantine.

But the time will come when day to day Supply Chain issue firefighting will ease. Then will come the time to translate these experiences into new strategies, improved processes and greater investments in technology and personnel development.

Where should Supply Chain professionals be spending their time when we get past the pandemic?

How to Manage Anti-Money Laundering (AML) Supply Chain Risk!

Supply Chain Scams and Fraud!

Measuring the scale of money laundering is not easy! However, one thing we can safely say is that it’s a big, big problem. In fact, The United Nations Office on Drugs and Crime (UNODC) has estimated that between 2 and 5% of global GDP is laundered each year.

This means that between 715 billion and 1.87 trillion EUR is laundered yearly, as per Europol.

6 Common Causes of Supply Chain Disruptions and How to Overcome Them!

Disaster Strikes!!! Is Your Supply Chain Ready To Recover?

In the multifaceted world of supply chain management, there are numerous variables that can cause unexpected disruptions. From natural disasters and IT issues to fluctuations in global politics, these challenges require strategic planning.

We’ve laid out six common causes of such Supply Chain disruptions along with potential solutions for each one, giving you the means to put your own contingencies in place.