19 articles

The Ins and Outs of Trade Credit Insurance

Surprisingly cheap, flexible and simple, it could be the easiest way for you to get a competitive edge.
J. Paul Dittmann, Ph.D. | University of Tennessee

Last in a five-part series. Click here to read part one, part two, part three and part four. In this series, we have discussed how companies manage bad debt risk, why they need trade credit insurance, why they resist buying trade credit insurance, how trade credit insurance can pay for itself and what to look […]

3 Must-Haves in a Trade Credit Insurance Provider

Shop for the right plan with the right provider
J. Paul Dittmann, Ph.D. | University of Tennessee

Fourth in a five-part series. Click here to read part one, part two and part three. In my last post, I discussed the three primary reasons why companies don’t purchase trade credit insurance and how these companies may have failed to realize the benefits of trade credit insurance, one being that it could potentially pay […]

Why You Don’t Have Trade Credit Insurance and Why You Should

Peace of mind that is practically free.
J. Paul Dittmann, Ph.D. | University of Tennessee

Third in a five-part series. Click here to read part one and part two. There are a number of tactical and strategic advantages of purchasing trade credit insurance, as discussed in my last post. However, not every company purchases it. Here are the three primary reasons: Lack of knowledge Perhaps the biggest reason is simply […]

Why Companies Need Trade Credit Insurance

Bad debts can occur despite a company’s attempt at avoiding them – trade credit insurance can manage the credit risk of bad debt.
J. Paul Dittmann, Ph.D. | University of Tennessee

Second in a five-part series. Click here to read part one. As we discussed in my previous post, bad debts could occur despite a company’s attempt at avoiding them. However, there are ways to manage the credit risk of bad debt – one way being trade credit insurance. Thousands of small and mid-size companies purchase […]

Seller Beware

Even “good as gold” customers can default on their payments. There are four major options to manage the credit risk of bad debt.
J. Paul Dittmann, Ph.D. | University of Tennessee

First in a five-part series. Any sale carries risk, because with every sale, there’s the chance the buyer won’t pay. Non-payment can be damaging or even catastrophic to a seller. Depending on the size of the company and its operating margin, one or two bad debts can wipe out profits for the year and close […]

10 Steps to Mitigating Transportation Risk

Shippers need to take these steps to effectively identify and avoid supply chain risk.
J. Paul Dittmann, Ph.D. | University of Tennessee

Last in a Six-Part Series. Click here to read part one,  part two, part three, part four and part five. So far in this series, we have discussed many factors that affect supply chain risk and insurance. In this post, I want to share 10 action steps that shippers can take in order to effectively identify and avoid supply chain […]

The 10 Megatrends for Insuring Goods in Transit

Companies that consider these trends when making strategic decisions are likely to be prepared for future shifts in this dynamic industry.
J. Paul Dittmann, Ph.D. | University of Tennessee

Fifth in a Six-Part Series. Click here to read part one,  part two, part three and part four What does the future hold for insuring goods in transit? Below is a list of 10 megatrends for insuring goods in transit, some of which are already apparent in the marketplace today. Increased supply chain visibility More technology and carrier services […]

Cargo Insurance: A Go-to Guide

While each form of insurance can be beneficial to businesses, cargo insurance is the most effective way to insure your company’s supply chain.
J. Paul Dittmann, Ph.D. | University of Tennessee

Fourth in a Six-Part Series. Click here to read part one,  part two and part three. In my last post, I discussed the three most common types of supply chain insurance: self-insurance, business owner property and casualty, and cargo insurance. While each form of insurance can be beneficial to businesses, cargo insurance, which covers goods in transit, is […]

The Ins and Outs of Supply Chain Insurance

There are a number of insurance products available to protect supply chains from losses, and it’s important to understand the basics and the pitfalls associated with each.
J. Paul Dittmann, Ph.D. | University of Tennessee

Third in a Six-Part Series. Click here to read part one and part two. There are a number of insurance products available to protect your supply chain from the losses described in my last post– and it’s important that you understand the basics and the pitfalls associated with each. The more common include: Self-insurance Business owner property […]

The Real Cost of Cargo Loss

It’s critical for supply chain professionals to be aware of the risks their cargo faces during transport.
J. Paul Dittmann, Ph.D. | University of Tennessee

Second in a Six-Part Series. Click here to read part one.  It’s critical for supply chain professionals to be aware of the risks their cargo faces during transport. As we discussed in my previous post, the real cost of cargo loss may be much larger than expected. There are three types of cargo risk to […]

Accidents Happen. Are You Prepared?

It is important for businesses to better understand the true impact of cargo loss.
J. Paul Dittmann, Ph.D. | University of Tennessee

First in a Six-Part Series Transportation risk can come from a myriad of sources and can be very hard, if not impossible, to predict. These events run the gamut and include weather extremes, theft, hijacked trailers, global crises, cargo lost at sea (maritime law allows a captain to jettison some containers to save the rest), […]

Keeping Your Healthcare Supply Chain Healthy

Identify and slash costs in your business. Part two of a series.
J. Paul Dittmann, Ph.D. | University of Tennessee

This article is part two of a series. Click here to read part one.  If you have read part one of this two-part white paper on cost reduction in the healthcare supply chain, you already know that this is a complex and challenging topic. You also know that you need to “change the game” as you squeeze out more […]

Managing Cost in the Healthcare Supply Chain

What are the potential pitfalls costing you valuable savings? Part one of a two-part series.
J. Paul Dittmann, Ph.D. | University of Tennessee

Healthcare will consume 18 percent of U.S. GDP in 2015 and is projected to grow to 26 percent in 20 years’ time. In addition, all areas of the healthcare industry are becoming more competitive, whether big pharma, medical device manufacturers, healthcare retailers, or healthcare distributors. The simultaneous overall growth in healthcare overhead costs, as well […]

Steps to Healthcare Supply Chain Success

How to deliver supply chain excellence in the long run.
J. Paul Dittmann, Ph.D. | University of Tennessee

A healthcare supply chain can comprise 50-60 percent of a company’s total costs, control 100 percent of all inventory, and usually provides the foundation for all revenue generation. It is the lifeblood of the firm and, as such, must be guided by a robust strategy. But because of its highly complex, cross-functional, pan-organizational nature, a […]

Mitigating Risk with Insurance

Taking advantage of the tools that ensure continuity and resilience for the long term.
J. Paul Dittmann, Ph.D. | University of Tennessee

Last of a five-part series During the past few weeks, I’ve shared some insights from my recent research at the University of Tennessee on common risk management practices to identify, prioritize and mitigate supply chain risk. Among the research findings, it was surprising to learn that insurance is simply not on the radar screen of […]

Risk Mitigation in the Supply Chain

How much risk does your supply chain face and what should you do about it?
J. Paul Dittmann, Ph.D. | University of Tennessee

Fourth in a Five-Part Series To manage supply chain risk in your company, you will have to develop a process to do three things: Identify, prioritize and mitigate risk. I’ve discussed the first two steps in this process previously on this blog, and today I’d like to focus on the last and most critical part […]

Hidden Risks in Your Supply Chain

Mitigating and prioritizing risk in order to achieve success.
J. Paul Dittmann, Ph.D. | University of Tennessee

Third in a Five-Part Series Previously on the UPS blog, I’ve discussed the current state of risk and recent supply chain risk research conducted by my team and me at the University of Tennessee. In my last post, I also discussed the first step of supply chain risk management – identifying the risks. This time, […]

An Up-to-Date Twist on Supply Chain Risk: The Survey Says….

Documenting risk-management processes and preparing for facility or supplier losses.
J. Paul Dittmann, Ph.D. | University of Tennessee

Second in a Five-Part Series Given the popularity of supply chain risk as a topic at conferences, one could reasonably ask, “Is there anything new to say on the topic?” I think so. Fortunately, the thinking on this subject has become increasingly sophisticated, driven by the continuing complexities of the global environment. In my last […]

Managing Risk in the Global Supply Chain

Risk is a fact of life for any supply chain professional; learn how to manage it effectively.
J. Paul Dittmann, Ph.D. | University of Tennessee

First in a Five-Part Series Over the last decade, many companies faced supply chain challenges that have stretched their capabilities to the breaking point. Both the preponderance of natural disasters and huge economic swings caused extreme challenges across the supply chain. These challenges have not diminished. Supply chains, which once functioned almost on autopilot, face […]