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Risk Management Blog

Get a read on risk.

There are many blogs out there, so what makes ours so special? Quite simply, if you want to deepen your understanding of risk management, every article herein will be worth your attention.

Designed by our experts to offer practical tips and techniques to elevate risk management and its influence on an organization’s performance; this is good stuff. And because we all know that data is the new gold, you’ll find plenty of insight into capturing and leveraging risk data to your organization’s advantage.

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Top 10 Retail Risk Management Tips

Today’s risk management landscape for any industry is complex and vast. New regulatory measures come into effect each year, new products hit the market, and new distribution channels are developed.

In an industry such as retail, risk managers have the added complexity of risks related to the consumer. This adds yet another dimension to an organization’s risk portfolio, making it difficult to present only ten tips for retailers to mitigate risk. But as any risk manager would prioritize their organization's risks, here is a prioritized list of procedures to try: 

3 Most Common Claims Facing Manufacturers

As a manufacturer, have you considered what could happen if something goes wrong in your production line? What if a defective product leaves your factory doors and makes its way to a consumer? Do you know what types of warnings and labels you are responsible for?

Your work does not end when your product leaves in a shipment. Liability risk management extends so much further. Consider these common claims:

The Ever-Changing Risk Environment

As the global economy continues to change, all organizations and industries must adapt and evolve to stay relevant and successful. Risk management is no exception.

Once a siloed department in large companies, risk management is now being formalized and integrated throughout organizations across the world. As this change takes place, risk professionals must adjust to three primary changes: an increasingly uncertain environment, risk management becoming primarily digital, and cultural shifts.

How to Handle an Accident

When there is an accident in your place of business, it is easy to panic. Whether an employee or a customer is injured, anyone would fear for the person’s well being and, after that, the operational consequences of what just occurred.

However, it is most important to stay calm, reassure the person, and make sure they are safe; then you must handle the business side of the incident.

4 Ways to Manage Supply Chain Risks

85% of surveyed global chains experienced at least one supply chain disruption risk in 2017. Deloitte has shown that organizations who proactively manage supply chain risk spend 50% less to manage disruptions.

As always, proactive risk management is more cost efficient than reactive action. An efficient supply chain is essential for the production of quality products and effective customer service.

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