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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