Risk Mitigation

From earthquakes to ransomware, these 13 crises redefined how companies think about supply chain risk and resilience

Moody’s report identifies areas insurers are most concerned about.

Regardless of how many years of experience one has, managing supply chain and logistics operations through periods of risk and challenging times requires equal helpings of resourcefulness and resilience, among other key factors. That was a key theme in a session at this week’s SMC3 Connections conference in Orlando, Fla., which included Tom Nightingale, CEO, AFS Logistics, Tom Schmitt, President, CEO, and Director, Forward Air, and Brad Stewart, Treasurer and SVP-Investor Relations, Knight-Swift.

Now that the worst of it seems to be over, it’s time to take action to mitigate any future risk of supply chain disruptions. Developing a tool or using an existing software tool for assessing risk will help identify the weak links in your supply chain—but a tool alone is not enough.

In this white paper, Convoy will review five fundamental attributes of resilient supply chains and also how shippers can secure reliable and flexible capacity in any market condition with a digital freight network.

Resilience360 and Riskpulse have jointly released the “2020 Tropical Storm Season Outlook,” which explores what the upcoming tropical storm and hurricane season could bring, and how storm activities may impact supply chains, especially in light of the ongoing COVID-19 pandemic.

News emanating from the U.S. West Coast indicates that among many of the new risks logistics managers must confront these days is that of forced labor.

In this webcast Daniel Biran, VP-Global Security, Biogen and Joe Carson, Chief Strategy Officer, Resilinc, will speak on how Biogen was able to utilize its Global Security Operations Center and the Resilinc’s supply chain intelligence/tools to streamline cross-departmental communications, identify supply chain vulnerabilities, and enable proactive risk mitigation and crisis management activities in the face of the recent string of major natural disasters including Hurricane Harvey, Hurricane Irma, the Mexico City earthquake, and Hurricane Maria.

During the past four years, use of analytics to mitigate third-party supply chain fraud, waste, and abuse risk has jumped to 35 percent in 2017 from 25.2 percent in 2014, according to a Deloitte poll.

AsiaInspection (AI), a global provider of quality control services for businesses importing from the Pacific Rim, maintains that logistics managers should pay more attention to risk…irrespective of region.

Thanks to recent advances in information technology, there’s never been such a wealth of facts and analytics captured by today’s research firms. But the sheer volume of these numbers can easily overwhelm logistics managers.