Articles
Risks and Rewards: Risk Management Strategies
Are You Prepared for New Regulations?
Those of us who hoped we’d quickly get back on track after the notoriously shaky supply chains of 2020 and 2021 have been left wanting. A confluence of factors has come together to create further disruption across global supply chains, with some poised to only get worse.
Read MoreWhat You Don’t Know About Your Suppliers Can Hurt You
Most companies run credit checks to make sure their suppliers are stable. But how can executives keep up with the news and other crucial reports to see if those suppliers will keep their commitments?
Read MoreIf You Don’t Quantify Risk, COVID Didn’t Teach You Anything
No one would argue after the events of the past three years that supply chains aren’t broken. Wild discrepancies between supply and demand resulted in a crazy roller coaster effect that vacillated between too much inventory and empty shelves. Billions of dollars of goods sat for weeks or more on transatlantic barges while consumers cashed their stimulus checks, ready to spend.
Read MorePreparing Now For What the Future May Bring
In 2022, it became clear that effective supply chain risk management (SCRM) is not a luxury but a necessity. The year saw numerous disruptions to global supply chains, including Russia’s invasion of Ukraine, the Log4Shell vulnerability, and concerns over rail strikes.
Read MoreManaging Supplier Risk: It’s All About the Information
What was once “nice to have” information has been defined by law. As social and environmental concerns grow, governments and related third parties are demanding, with regulatory backing, that businesses manage ethical supply chains. What can large organizations with complex supply chains do to help mitigate supplier risk?
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Evaluate Risk Before Critical Decisions
Disruption across global supply chains has always been present, but the ongoing pandemic has magnified the risks supply chain leaders face, while simultaneously limiting response options in an already high-pressure environment.
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7 Critical Questions You Need to Ask
With a huge number of constantly shifting variables, suppliers, and other factors to consider, it’s easy to feel that managing supply chain risk is an unending battle that you’ll never win.
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Three Ways to Mitigate Insider Risk in Your Supply Chain
“Insider threat” has long been a familiar security topic for C-suite executives in every industry. In fact, 90% of organizations feel vulnerable to insider attacks, according to IBM. Yet, when creating risk mitigation programs for insider threats, many organizations overlook their nonemployees—the people who work for their third-party vendors, partners, and contractors.
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What’s Lurking in Your Supply Chain?
You may think your company is well protected when it comes to cybersecurity, but an often overlooked source of vulnerability is your supply chain. If you can’t honestly say you are fully apprised of the security postures of your vendors, partners, and contractors, then you are already at major risk of a cyberattack.
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7 Smart Steps to Minimize Risk
Inherent risks exist in trading globally that businesses don’t have to deal with when they keep things closer to home. But the rewards of expanding to new markets can far outweigh those hazards, especially if you take the following steps to minimize and manage your exposure to risks.
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Stop, Thief! Five Ways to Protect Your Supply Chain
Today’s supply chain ecosystem is increasingly complicated. We rely on suppliers and buyers across the globe and use multiple transport modes, languages, currencies, and laws across borders.
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Keeping Truckers Safe on the Road
Keeping drivers safe is important for everyone on the road, especially with 115 million cars and trucks hitting U.S. streets every day. Not everyone who drives will get into an accident. However, the risk is much higher for truckers who drive every day for work. A range of factors can cause crashes. One of the […]
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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 […]
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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 […]
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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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Defending Your Supply Chain Against Hackers
As organizations continue to outsource, form partnerships, and share data with third parties, a strong vendor risk management (VRM) program that stays ahead of risks in the information supply chain has to be a top priority. Hackers stole confidential data from tens of millions of Target customers during the height of the holiday shopping season. […]
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5 Steps to Reduce Supply Chain Risks When Going Global
Natural disasters, huge economic swings, supply shortages, and security issues present considerable challenges to supply chains. One critical area that can bring a supply chain to a screeching halt is international trade compliance. Whether you’re starting out in the global market or already dealing with supply chain issues, these five tips will help you mitigate […]
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Black Swan Events: Planning for Supply Chain Resiliency
Major supply chain disruptions, commonly referred to as "Black Swan" events, are high-impact, low-likelihood occurrences that are typically not on your everyday radar. But knowing exactly where your product is in the supply chain is never more important than during these instances. The effects of a hurricane, flood, fluctuating oil prices, political unrest, and port […]
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Who Are You Doing Business With?
In our ever-connected and increasingly global economy, aggregated, real-time global trade data—such as denied party screening results—helps businesses ensure protection and compliance. Denied party screening is critical in shipping and international trade, and essential for minimizing business risk today. Country governments and international organizations maintain lists of people, organizations, and countries they are prohibited from […]
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Warehouse Fires Can Cripple Your Business. Preventing Them Just Got Easier.
As warehouse heights have increased with the help of new materials handling technology, so have the risks. That’s why fire codes often require property owners to install dense arrangements of expensive sprinklers throughout the racks. Fortunately, alternative designs can make this “in-rack” sprinkler protection far less cumbersome and costly. The proper sprinklers can be essential […]
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