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Product recall is a terrifying phrase for both manufacturers and retailers. If not handled properly, it has the ability to destroy brands and bankrupt companies. With the ability to have such a detrimental impact, you would think that most companies have an effective product recall plan in place. However, many companies are not prepared to handle a large product recall incident.
By Cody Colbert Wed, Feb 24, 2021 @ 14:02 PM
Loss control is a management priority whether a fleet is large or small. A Fleet Loss Prevention Program can decrease insurance claims and help mitigate the frequency and severity of future losses. Often the other tangible and intangible benefits of these types of programs can be overlooked, but are just as valuable to your company!
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By Rebecca Webb Wed, Feb 17, 2021 @ 14:02 PM
You’ve recognized the need for a risk management system, evaluated vendors’ products, and chosen the system that’s best for your organization. It may seem like the work is done, but there’s still a significant challenge ahead: the implementation of the system.
This step is arguably the most important: failure to smoothly implement a risk management system will make it much harder to achieve success. Before beginning implementation, consider the following advice:
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By Rebecca Webb Wed, Feb 10, 2021 @ 18:02 PM
Residents in coastal British Columbia experienced an unusual occurrence yesterday: a tsunami warning. A large earthquake struck about 250km off the coast of Alaska around 1:30am Pacific Time on Tuesday, January 23. Alaskan and B.C. residents were warned to move to higher ground in preparation of the wave that was feared to be on its way. Full CBC coverage of the event can be found here.
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By Rebecca Webb Wed, Feb 10, 2021 @ 14:02 PM
Even if you don’t realize it, you’re probably employing some kind of risk management in your organization. Over time, you develop procedures to make sure things don’t go wrong and put plans in place to reduce organizational impact if they do.
Creating a risk management plan is simply about formalizing that process and being able to devote your resources more effectively. The first step in this process, and one of the most important, is identifying your risks.
You will need to make a list of all the specific risks that could impact your organization. This can be a daunting task, especially for new businesses that don’t have years of experience and history to rely on. Fortunately, there are some strategies you can turn to for help:
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