Do you know who are your key suppliers and what is their approach to risk management? How are your suppliers protecting their property and business from loss?
As today’s supply chains grow longer, more complex and often more fragile, resilience has become a key strategic concern for many companies.
In this webinar, you will hear about different approaches to managing supply chain risks and review three phases in the creation of a resilient supply chain, so you can ensure there is minimal impact to your business following a significant loss at one of your key supplier locations.
Speakers / Moderators
Michael BeaumontGroup Manager – Account Engineering, Australia Operations FM Global
Business Risk Consultant, Asia Pacific
The panel looked back on examples of recent supply chain disruptions and analysed how a variety of businesses have been impacted.
The speakers emphasised how building knowledge, identifying vulnerabilities and making use of reliable resources can help uncover the business’ “known unknowns”, with the use of data and inventories to further understand how one link of the chain could have wide-ranging effects.
Risk managers have also been reminded to look beneath the surface and pay attention to vulnerabilities that are not on the top level of the supply chain to better discern foreseeable risks.
Some questions from risk managers:
- To what extent are resilient suppliers allowing for better Contingent Business Interruption cover?
- How do insurers help manage disruptions due to Black Swans such as the Beirut blast?