Risk Management Blog - ClearRisk

Supply Chain Risk Management: A Few Things You Should Consider

Posted by Kayla Hickey on Wed, Jun 21, 2017 @ 14:06 PM

 

Supply chain risk management is not a new concept. It's important to consider your company’s risk exposure when entering into a business relationship with a third party. How will your operations be impacted when a supplier is consistently delivering essential materials for your production process late? What if your materials are damaged when you receive them? There's a few things that you can do to mitigate your business from supplier risk.

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Topics: supply chain risk management, supplier risk, Supplier risk management

The Manufacturing Supply Chain: Top 10 Risks to Consider

Posted by Kayla Hickey on Fri, May 12, 2017 @ 15:05 PM

 

The risks that impact the supply chain of manufacturers is continuously growing and changing. The supply chain is vulnerable to countless risks such as supplier relationships, manufacturing processes, shipment of finished products, and many more. When conducting a risk management plan for your business there are many major risk factors to be considered that are completely out of your control.

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Topics: supply chain risk management, supply chain risks, Manufacturing, manufacturing supply chain

10 Risk Management Strategies for Retailers

Posted by Maegan Marshall on Thu, Oct 27, 2016 @ 11:10 AM

Retail is a risky industry. With consumer purchasing tendencies trending towards the online marketplace, business owners must think outside-the-box on issues which could affect their bottom line and reputation. We’ve compiled ten tips that will help in changing this focus to major risks associated with the retail industry.

Here are three points to get you started: Risk Ownership, Protecting your Brand, and Safeguarding the Supply Chain. These are simple measures that can help lessen the severity in case of an incident. Say a potential customer wants to buy product from you but it is out of stock. “Not a problem!” you say and offer to order it in for them - only to find out your supplier doesn’t have any either. The last batch of product was just sold to your competitor and won’t have more available for a month. You try to explain this to the customer but it’s no use. They head to Facebook where they post a complaint. As quickly as that, a potential customer can switch to a competitor and tarnish the reputation of your business, all at the same time. Head over here for a real-life supply chain scenario between Nokia and Ericsson which discusses a similar situation.

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Topics: supply chain risk management, Claims and Risk Management for Retail, retail risk management, Retail Risk, risk management tips, risk ownership, brand risk management

Supply Chain Risk Management: Balancing Flexibility and Vulnerability

Posted by Craig Rowe on Tue, Oct 6, 2009 @ 15:10 PM

Supply chain management is largely about interconnectedness. When planning for and managing the sourcing, procurement, conversion and logistics related to your product offering, companies need to create the right relationships with the right companies. This will help to optimize the movement and storage of materials and inventory while at the same time preparing for disruptions. Striking the right balance is not easy.

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Topics: supply chain risk management, identify risks in supply chains, supply chain risks, develop strategies for supply chain risks