Companies can avoid some of the pitfalls of supply chain risk by developing risk mitigation strategies such as supply chain mapping and applying the lessons learned from the COVID-19 pandemic. To mitigate risk, your company should have these five capabilities.
The latest COVID-19 Manufacturing Survey from Thomas Insights illuminates emerging trends in reshoring, labor, and technology, and reveals a positive outlook for the future of manufacturing.
Leaders share best practices for sharpening digital strategy, developing resilience, and improving visibility as shippers re-engage in trade and navigate COVID-19 uncertainty.
Without proper identity access and management procedures for third-party users in place, entire supply chains are vulnerable to attacks.
To better weather the next supply chain disruption, organizations should consider these five ways to enhance day-to-day planning and improve shock resilience.
As the coronavirus continues to disrupt global supply chains, Gartner developed three scenarios to help chief supply chain officers (CSCOs) prepare for recovery and make preemptive decisions to set up their organizations for success.
While the human and financial tolls wrought by COVID-19 are horrific, the pandemic has also brought out the best in many people and the logistics and supply chain organizations with which they work.
Organizations that have incorporated scenario planning into their process may be better prepared to cope with disruption and uncertainty. For those who have not advanced their planning capabilities, weathering the next disruption may not be as easy.
Supply chain leaders share the latest innovations, solutions, e-commerce strategies, and IT operations
While the speed with which the supply chain was disrupted by the coronavirus pandemic put supply chain weaknesses on display, it has also shined a light on where we need to strengthen our capabilities to mitigate future disruptions. Here are some areas the supply chain must address moving forward:
After reporting no new cases of COVID-19 in March 2020, people are going back to work in China—but companies still face a slow return to production.
As the supply chain faces factory closures and limited access to employees and logistics to move goods amid the COVID-19 outbreak, leaders can help ease disruption by focusing on their workforce, products, and costs, according to Gartner.
Take a look at each state's perspectives, guidelines, and deadlines as they make plans to reopen their local businesses and facilities amid the COVID-19 pandemic.
Importers can use these strategies to monitor potential risks to their supply chains, respond effectively when disruptions occur, and work proactively to avoid future disruptions.
The rewards in expanding to new markets can far outweigh the risks, especially if companies take smart steps to minimize and manage their exposure to risks.
This is how manufacturers and retailers can map dependencies and minimize risk when facing supply chain disruptions like the new coronavirus pandemic.
Antonio Galvao, chief supply chain officer of DuBois Chemicals, recounts his history in global logistics and discusses what it takes to succeed.
Supply chains are heavily dependent on information technology (IT) systems, but are difficult to secure because they often involve multiple networks working together.
A North Carolina hospital improves patient care by prescribing a lean and healthy supply chain.
Readers reveal the issues that could disrupt the supply chain…as well as their sleep.
How prepared are companies for supply chain disruptions such as fire, a data breach, natural disaster or terrorism? Not as prepared as you’d think, considering what’s at stake.
Supply chain fraud remains significantly under scrutinized within many companies. Use these tips to help handle supply chain fraud.
South Korean ocean liner Hanjin Shipping files for bankruptcy protection in a dozen countries; Few respondents to a GT Nexus survey say they have a chief supply chain officer on hand who would be equipped to deal with supply chain disruptions; Maersk splits its transportation and oil businesses
It is never too late to improve your safety operations. The changes you make today will reduce your liability exposure for an accident that happens tomorrow.
As professionals who understand the entire process of manufacturing, shipping, and marketing products, and who recognize that suppliers can be closely aligned with the company’s goals and objectives, chief procurement officers help define a company’s competitive advantage.
Denied party screening is of critical importance in shipping and international trade, and essential for minimizing business risk today.
The 2016 Allianz Risk Barometer identifies top 10 risks for global companies.
So how prepared is your business to withstand a crisis? Effective risk analysis and crisis preparation is an essential strategy.
Shippers unprepared for supply chain disruptions; China wants pirate hunting base in Horn of Africa; bringing cargo into Kenya; India ramps up transportation infrastructure development; air cargo carriers seek to cut costs without sacrificing growth; Amazon invests in India; China’s greenest supply chains; international shrimp supply chain linked to human trafficking and slavery; World Trade Organization rules to abolish agricultural subsidies; Mexico and U.S. sign liberalized air transport deal; global manufacturers shift production to Bangladesh, Thailand, Korea and Vietnam
Logistics has evolved into a strategic business concern, driving enterprises to seek third-party logistics (3PL) providers with multi-modal capabilities for complete end-to-end integration.
Waiting until next week, next month, or next year to address your company’s supply chain vulnerability is a serious mistake, with potentially catastrophic consequences. Use these tips to prepare for potential supply chain disruptions.
Supply chain continuity planning is critical for global businesses. Armed with an end-to-end digital model of their supply chains, shippers can react rapidly and intelligently when unplanned events occur.
An on-board video solution helps fleet managers review driver performance and improve fleet safety.
Freight damage, loss, and theft will always occur. Planning for those inevitabilities is key to prevention and faster claims settlement.
When downtime impacts a company’s line, outsourcing technology infrastructure to a third party might help.
Enabling a holistic, integrated approach to managing global supplier risks allows companies to minimize risks, protect brand integrity, and reduce supply chain costs.
It is essential to have damage prevention measures in place for racking systems to avoid employee injury and minimize loss.
Before entering the international trade arena, shippers must understand the stakes involved in regulatory compliance.
Managing supply chain risk means recognizing that things won’t always go according to plan, and having the right infrastructure in place to succeed even through the unexpected.
This article looks at issues that companies should consider when developing a more resilient supply chain.
Carriers need to be ready to keep freight moving no matter what gets in the way.
With the holiday season in full swing, logistics managers must be able to rely on their vendors to perform.
All companies should incorporate a business continuity plan into their operation so they are never unprepared for a disruption.
Plan now to avoid supply chain disruptions from the latest Icelandic volcano eruption; Australia struggles with home delivery challenges; EU and China sign landmark customs agreement.
Google and Barnes & Noble partner to provide same-day book delivery; Shippers prioritize day-to-day problem-solving over contingency planning; APICS and SCC merge; Transplace identifies four areas key to preferred shipper status
Properly prepare shipments and test packaging to prevent product damage and returns.
Partnering with an expert can help retailers ensure they comply with hazardous waste regulations.
Companies must not only mitigate supply chain risk, but also understand the logistics of global recall management.
Supply chain contingency planning can help automotive manufacturers protect their operations.
Clear transportation management strategy and technologies allow companies to deliver superior service at lower cost.
Ax Torres supervises outbound shipping at agricultural machinery company AGCO Corporation.
Companies make contingency plans to prepare for possible supply chain disruptions caused by port labor negotiations.
Collaborative risk management helps automakers and their supply chain partners protect against disruptions.
Shippers protect against supply chain disruptions with physical, analytical, and financial risk mitigation strategies.
Supply chains must develop strategies for reducing risk related to climate change, such as drought and extreme weather.
Actionable tips help you revitalize your warehousing, 3PL, trucking, and global logistics operations.
Global dry-bulk commodity trade reveals rate growth, steadying inflation in China; Preparations for 2022 World Cup trigger DC explosion in Qatar; Supplier risk analysis will become more complex as companies expand into new global markets; Pakistani protests force U.S. military drawdown to consider $1 billion airfreight alternative; Asia truck bans taking toll on logistics industry; Africa’s piracy problem shifting to continent’s west coast; Trans-Pacific Partnership pact stalls, 2014 ratification expected; China’s Nicaraguan Canal stirs intrigue; Tesco acquires stake in “Asia’s Amazon”
Cloud-based predictive analytics increasingly available to more companies of all sizes; RFID market set for robust growth by 2020; supply chain risk mitigation should be priority for all companies; key trends driving change for enterprises and government in 2014
When supply chain disruptions occur, logistics managers must use leadership skills to maintain operations.
Collaborate with suppliers to manage supply chain risks with the highest potential to occur and risk of business impact.
C-TPAT certification lets businesses support national security and improve their own supply chain operations.
Shifting manufacturing operations in Asia back to North America provides companies more control of their supply chains, says Steve Sensing of Ryder Supply Chain Solutions.
Technology management can affect warehouse operations’ connectivity during and after a power outage. Whether the facility’s warehouse management system (WMS) is installed on-site, delivered via a Software-as-a-Service (SaaS) program, or hosted in the cloud can have a huge impact on maintaining productivity, writes John Sterling of Foxfire Software.
Supply chain management experience is vital to corporate risk management planning, write Carlos Alvarenga of Accenture.
The ability to minimize supply chain risk and prevent disruptions depends on strong supplier relationships and well-developed contingency plans, says Chris Cameron of Elemica.
Lorcan Sheehan of ModusLink discusses some of the lessons businesses have learned that help mitigate supply chain risk during the peak season.
Planning for exceptions can help shippers prevent supply chain disruptions in the wake of a natural disaster.
Successfully moving freight into challenging areas requires an abundance of preparation and due diligence, test runs, and contingency plans to make sure moves happen without a hitch.
When supply chain disruptions arise, shippers need to react quickly—without incurring undue costs—to keep production in line with demand.
Logistics professionals and companies should adopt and continuously update a risk-based export compliance program to minimize facilitation risk, writes Michael E. Burke of Arnall Golden Gregor.
Supply chain visibility helps flag upcoming supply or demand problems, allowing a company either to take action to prevent disasters or to respond by activating backup plans, writes George W. Prest of Material Handling Industry of America.
Risk management strategies must address the everyday sources of supply chain disruption, and managers must incorporate the identification of potential supply chain risk into their daily practices, writes Mark Humphlett, Infor.
Multinational corporations are gambling on the Latin American market's growth potential. But meeting the region's supply chain challenges requires an understanding of local markets, strategic planning, and strong partnerships.
Supply chain disruptions become more manageable when shippers have supply chain technology that provides shipment visibility, writes Henry Hicks, Progress Software.
Shippers can avoid load board scams by taking the time to research the companies with which they do business, writes Jeff Vielhaber, TTS.
Managing risk in the supply chain requires that shippers address issues such as product safety, environmental concerns, labor management, and social responsibility.
Retailers can implement technology and processes to increase traceability and gain greater visibility into their supply chain, which helps track and retrieve products in the event of a product recall, writes Brendan Lowe, Aldata Solution.
Well-defined business practices, thorough contracts, physical security, and active planning, help mitigate supply chain risk.
Dr. Jeff Karrenbauer of supply chain solutions provider INSIGHT offers tips for protecting against supply chain disruption.
Curt Shewchuck, chief security officer, Con-way Freight discusses how the carrier's security protocols helped avert a terrorist threat.
Barry Tarnef, senior loss control specialist for Chubb Marine Underwriters, outlines strategies for reducing risk when shipping large machinery.
Danny Halim of JDA Software offers strategies for minimizing risk in the global supply chain.
Chandler Hall of BravoSolution explains how to reduce the frequency and severity of disruptions by fostering collaborative relationships with your suppliers.
Increased regulation in the form of CSA 2010 affects not only truckers, but also freight brokers providing insurance, according to Mike Williams, chief operating officer, Sunteck Transport Group.
Faced with transportation interruptions caused by the April 2010 eruption of an Icelandic volcano, European express carriers TNT and DHL activated contingency plans; LCD television manufacturers control spending by bringing production in-house; Inventory-in-sales ratios rise across the supply chain; Wholesaler Arrow Electronics acquires reverse logistics companies; Google helps consumers match demand to in-store supply
Robert L. Sobel of Cook, Hall, and Hyde outlines how shippers can benefit from trade disruption insurance.
C. Daniel Negron of TT Club offers guidance for making sure your supply chain is properly insured.
With the shock wearing off and operations starting to stabilize, organizations shift their focus to the future. The overwhelming challenge is navigating the uncertainty. Here are four freight trends worth paying attention to moving forward.
Staying engaged with your customers, providing solutions to their new demands, and not losing sight of your business goals can help improve your business during uncertain times.
While there aren’t many quick fixes when it comes to mitigating global disruption, leaders can use solutions that directly address the biggest weaknesses in the supply chain that were highlighted as a result of the COVID-19 outbreak: demand, labor, and energy.
To capitalize on what they’ve learned, transform, and thrive in a post-COVID world, supply chain leaders should focus on these five pillars: people, finances, decision-making, infrastructure, and customers.
What the food supply chain community learned from the COVID-19 pandemic crisis was that having the right technologies implemented was the difference between days or weeks to reroute, reschedule, repack, and reorganize goods to ensure delivery at a pre-COVID-19 standard.
Profile of Andrew Kirkwood, CEO, BluJay Solutions.
Digital tools that confirm a person's health status can create safe work environments while also protecting personal privacy as businesses and supply chains recover from the COVID-19 disruption.
With the daunting task of navigating the rapidly changing global trade landscape, where should shippers begin? Actionable global trade data is your lifeline for supply chain resilience. Global trade intelligence solutions can help businesses swiftly find alternative suppliers in a concise three-step process: Identify potential sources, analyze costs, and vet potential trading partners.
To maximize your decision to act, adapt a solution to the company’s processes or adapt the company’s processes to the solution.
Rather than wait for the next man-caused disruption or pandemic, smart business managers are extracting knowledge from a forensic investigation of their operations based on COVID-19 stress and kicking bad practices to the curb.
The COVID-19 pandemic has shown the shortcomings of a supply chain that is perhaps too lean. However, to be “lean” doesn’t mean keeping extremely low inventory levels with no coordination or backup plan.
With dynamic updates on missed transits, rollovers, arrival notification, and port congestion during COVID-19, shippers can make decisions proactively and avoid inefficient costs due to detention and demurrage, expedited freight, and buffer stock.
Supply chain management may have changed forever as COVID-19 brings heightened awareness to its fragility. With careful planning, shippers can minimize risks related to the pandemic.
With the right risk-management plan, shippers can better understand the risks facing their supply chain operations and make sure their business is prepared by protecting the value of goods shipped globally.
With more and more brick-and-mortar shops temporarily closing their doors due to the COVID-19 pandemic, there’s immense pressure on retailers to deliver much-needed supplies to individuals at home. The Internet of Things (IoT) can help mitigate this risk and ensure supply chains operate as swiftly as possible.
The power of centralized organizations must harness and unleash the strengths of decentralized communities to help beat COVID-19. Thousands of supply chain professionals, educators, and inventors have joined The Worldwide Supply Chain Federation (TWSCF) to rethink and change how supply chain operates in 2020 and beyond.
Stabilizing core business operations, managing risk, and taking steps to perfect and enforce rights under existing agreements should be key priorities in your company’s response to COVID-19. Here are four strategies for supply chain professionals, in-house counsel, and risk managers to keep in mind.
Ports across our country must be prepared to support tenants and other partners. Doug Wheeler, president and CEO of Florida Ports Council, explains how ports can achieve long-term recovery.
Visit these links for helpful information and official guidance related to the COVID-19 outbreak.
Preparation is the key to getting any business or community back on track after a natural disaster, and when it comes to hurricane preparation, the old adage that “failing to prepare is preparing to fail” rings very true.
Consider all potential disruptions and ways to design your supply chain to keep it operational in the face of foreseeable and unforeseeable challenges.
Southeast ports prepare for the worst as Hurricane Dorian inches toward the U.S.
Make sure issues that can disrupt your supply chain are limited and infrequent. Here are several predictable and unpredictable risks that you should plan for:
In a globalized economy where finalized products have components manufactured all over the world, effective management of supply chains is critical. Adopt these habits to reduce and mitigate risks faced by supply chain parties.
When COVID-19 rocked the world, many companies were utilizing pool chassis in major ports and inland rail locations. However, with many pool chassis ranging in age from 20 to 25 years old, this led to serious problems, such as breakdowns and lack of availability. Leasing new, premium chassis could help prevent these problems.
Supply chain disruptions may be a reality the world will continue to contend with. How can shippers weather the COVID-19 storm and maintain a semblance of business continuity during periods of such uncertainty? While there is no one-size-fits-all answer, shipping organizations must take more control of their own destinies. These key business strategies will help shippers secure their supply chain resiliency well into the future.
COVID-19 is clearly a catalyst for necessary change and our collective global supply chain disruption makes it clear that the time to bring transparency and efficiency is now.
Faced with a labor shortage exacerbated by the pandemic, MD Logistics developed a recruitment strategy to attract talent for present-day conditions as well as allow for continued growth.
As businesses slowly recover following COVID-19 fulfillment and distribution centers can't simply flip a switch and return to normal operations. Reopening will require a rigorous methodology backed by data and analytics, and creative thinking about how to leverage existing technology in the workplace.
Implementing these best practices can help companies reduce the impact to transportation operations and save costs during business disruptions.
An often overlooked source of security 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, you are at major risk of a cyberattack.
Companies are looking for ways to manage more efficiently with less—while reallocating resources to more productive activities and maximizing freight spend value. Logistics operations are a great place to start as even the smallest percentage savings could mean triple digit impact to bottom lines.
Shipping volumes demonstrate the resilience of companies and their ability to produce essential products during disruption, and highlight the important role transportation plays
It's more important than ever for transportation and logistics companies to have an effective mobility strategy in place. Shippers can adjust their existing protocols with COVID-19-related policies by implementing these technologies and practices.
COVID-19 has created unprecedented challenges for supply chain and logistics management, and the pressure is on to deliver essential supplies, such as toilet paper and food, to consumers on time. Successfully delivering a product on time involves many factors, and labeling shipments correctly is one of them.
With tight production and shipping windows, finished goods importers are especially vulnerable when unexpected disruptions take place. These suggestions can help U.S. importers through what is shaping up to be a trying 2020.
When dealing with high-risk global events like COVID-19, manufacturers should first pay attention to the supply side, such as inventory, alternative energy, or shipping, and mitigate the impact of high-risk disruptions.
Real-time technology can help shippers keep abreast of high-impact incidents around the world and provide extra time and context to activate their supply chain risk mitigation strategies.
Partnering with a 3PL does much more than free up time to focus on core competencies—it offers a buffer between the shipper and the ever-shifting challenges of the logistics realm.
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.
Cargo theft continues to be a challenge to shippers, totaling an estimated $145 million in losses each year in North America. Use these tips to keep your cargo safe.
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.
The 2017 hurricane season serves as a risk management wake-up call.
High-performing supply chain organizations are differentiated on how well they respond to the unexpected.
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 are using to tackle the escalating challenge of supply chain risk management.