We use cookies to provide you with a better experience. By continuing to browse the site you are agreeing to our use of cookies in accordance with our Cookie Policy.
  • INDUSTRY PRESS ROOM
  • SUBMISSIONS
  • MEDIA FILE
  • Create Account
  • Sign In
  • Sign Out
  • My Account
Free Newsletters
  • MAGAZINE
    • Current Issue
    • Archives
    • Digital Edition
    • Subscribe
    • Newsletters
  • STRATEGY
  • GLOBAL
  • LOGISTICS
  • MANUFACTURING
  • PROCUREMENT
  • VIDEO
    • News & Exclusives
    • Viewer Contributed
    • CSCMP EDGE 2023
    • Upload your video
  • PODCAST ETC
    • Podcast
    • White Papers
    • Webcasts
    • Events
    • Blogs
      • Reflections
      • SCQ Forum
    • Mobile Apps
  • MAGAZINE
    • Current Issue
    • Archives
    • Digital Edition
    • Subscribe
    • Newsletters
  • STRATEGY
  • GLOBAL
  • LOGISTICS
  • MANUFACTURING
  • PROCUREMENT
  • VIDEO
    • News & Exclusives
    • Viewer Contributed
    • CSCMP EDGE 2023
    • Upload your video
  • PODCAST ETC
    • Podcast
    • White Papers
    • Webcasts
    • Events
    • Blogs
      • Reflections
      • SCQ Forum
    • Mobile Apps
Home » Complex supply chains entail risks for companies
Press releases are provided by companies as is and have not been edited or checked for accuracy. Any queries should be directed to the company issuing the release.

Upload your press release

Complex supply chains entail risks for companies

May 4, 2018
No Comments

In view of increasingly serious business interruption claims at large industrial companies, industrial insurer HDI Global SE (HDI) is providing valuable advice on combatting such risks in a Risk Engineering Guideline.

Natural catastrophes, human error, major fires and the failure of central IT units can paralyse value chains throughout the world from one minute to the next. Production shutdowns and resultant financial losses are the likely consequences.

"The financial loss resulting from business interruption is often greater than the actual damage to property that has caused this interruption. We see this situation time and again in our claims analyses," commented Dr Verena Brenner. She is Head of Central Services at HDI Risk Consulting, a subsidiary company of HDI Global. "We therefore provide in-depth advice for our customers on how they can make their complex supply chains transparent and protect them against interruptions that could pose a threat to their business operations," said Ms Brenner. "Our goal here is to help our customers preserve their production and supply capability even if they have an incident."

One important measure for maintaining operational readiness is to build up Business Continuity Management.

Industrial companies are provided with an initial overview in the Guideline for Business Continuity Management produced by HDI Risk Consulting. HDI makes this Risk Engineering Guideline available to companies to download free of charge (see link below).

Business Continuity Management (BCM) is a management system that enables a company to recover as quickly as possible from serious damage to infrastructure and resources. The system maintains a predefined level of operational readiness in the company even if damage occurs, and the return to normal business operations is accelerated. Ultimately, the effects of an incident are reduced to an "acceptable" level and the company becomes more resilient to incidents at their facilities or within the supply chain.

Prevention takes priority over insurance

"A top priority for us is to give our customers support to analyse and minimise risk. This involves us in offering highly practical advice to achieve cost-effective safety measures," commented Ms Brenner. "Part of the routine work carried out by our risk engineers is for them not simply to analyse production sites and supply chains at the local facilities. We effectively carry out this work across the world. We always operate in accordance with the principle of: Prevention takes priority over insurance!"

The new Risk Engineering Guideline presents the necessary steps to achieve a successful management system in order to maintain business operations. For example, support and involvement of top management is essential to establish a "BCM Culture" within a company. If there is an event involving serious damage, this culture can make the difference between a temporary lean period and the company's failure to maintain its place in the market.

The BCM Guideline from HDI concludes with a checklist. Companies can use this to check progress as they work to establish their Business Continuity Management System.

Use the link to download the Risk Engineering Guideline "Business Continuity Management":

More Info: https://www.hdi.global/downloadcenter/DE_en/Risk-Consulting/English/20171218_403_HRCREG161GB201708_REG_BCM_en.pdf

Submit your logistics, material handling, or supply chain related company news in Supply Chain Quarterly's's Industry Press Room section or New Products section
    • Related Articles

      6 Ways Companies Can Ready Their Supply Chains for the Holidays

      6 Ways Companies Can Ready Their Supply Chains for the Holidays

      Twenty Four of The Gartner Supply Chain Top 25 Companies Optimized Supply Chains with LLamasoft

    You must login or register in order to post a comment.

    Report Abusive Comment

    Most Popular Articles

    • Walmart to open fifth “next-gen” fulfillment center in 2026

    • 53% of procurement leaders expect to increase their spending in 2024

    • U.S. faces permanent labor shortage, says University of Tennessee economist

    • Pepsi exec highlights four key structural changes in the supply chain

    • What skills will you need in the Age of AI?

    Featured Video

    Edge2023 innovationtheater here technologies

    CSCMP EDGE 2023 Innovation Theater: Enabling Peak Performance in Last-Mile Delivery Through Private Mapping and Custom Routing - HERE Technologies

    CSCMP EDGE 2023
    At HERE Technologies, we understand the hypercompetitive world of e-commerce, retail, and parcel delivery is increasing in complexity every day. End customers demand ever-increasing delivery performance levels regarding on-time arrivals, flexibility in delivery schedules, pricing and payment options, and more....

    FEATURED WHITE PAPERS

    • Balancing Act: How Freight Brokers Help Shippers Navigate Uncertainty

    • Quarterly Freight Data Report: Q3 2023

    • A Brighter Future: How COVID-19 Continues to Change Freight Procurement Strategies for the Better

    • Five questions to ask before electrifying your indoor forklift fleet

    View More

    Subscribe to Supply Chain Quarterly

    Get Your Subscription
    • SUBSCRIBE
    • E-NEWSLETTERS
    • ADVERTISING
    • CUSTOMER CARE
    • CONTACT
    • ABOUT
    • STAFF
    • PRIVACY POLICY

    Copyright ©2023. All Rights ReservedDesign, CMS, Hosting & Web Development :: ePublishing