If a meteor wants to hurdle out of space and smack your warehouse off the map, nothing is going to stop it. But for everything else, we have risk management, and Hannah Kain provides five tips for improving how we deal with risk:
- Incorporate a risk assessment into strategy that has been aligned with corporate and customer goals.
- Be proactive.
- Know the environment.
- Think broadly of what constitutes the supply chain.
- Build a corporate culture that is attuned to risk responsiveness.
The recent economic downturn ruffled a lot of feathers and made people realize how slim the margin of error has become anymore if businesses are to survive. Stronger risk management is the go-to fix for it. Consult the full article for elaboration on Kain’s five pointers.