risk mitigation
21 articles

A Secret Killer – and Why Speed Can Kill It

It might not dominate the headlines, but sepsis is a healthcare crisis that requires immediate action.
Dr. Carl Flatley | Sepsis Alliance

It kills more people than breast cancer, prostate cancer and AIDS – combined. Somehow I had never heard of it. Then it took my daughter’s life. Erin was in severe pain at home following outpatient surgery. We knew something was wrong. Erin returned to the hospital, but the doctor, fearing complications, didn’t want her to […]

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 […]

How Businesses and Governments Can Capitalize on Blockchain

Blockchain has the potential to transform not only the way commerce is done but the interplay between governments, businesses and citizens.
Jerry Cuomo | IBM

The emergent technology blockchain has been roiling the technology and financial services industries for months, and, now, people in other industries and government agencies are asking questions about it. I’m convinced that it has the potential to transform not only the way commerce is done but the interplay between governments, businesses and citizens. That’s why […]

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), […]

Greek Crisis Underlines the Importance of Risk Management

How can companies shelter their supply chains from market storms?
Yossi Sheffi | MIT

No one knows for sure how Greece’s financial crisis will impact the global economy over the long-haul. However, what companies can expect is instability in some form or other, such as volatile prices and fluctuating currency values within the Eurozone and beyond. Companies have developed financial hedging tools such as long-term, fixed-price contracts with suppliers […]

Plan Early, and then Adapt

Five key takeaways from the West Coast port challenges
Eric Souza | UPS

Indicators of long and drawn-out West Coast port challenges began showing up in February 2014. While many in the industry focused on East Coast and Midwest delays because of a harsh 2013-2014 winter season, West Coast terminals were congested as a result of strong volumes pre-Chinese New Year 2014. Chassis shortages contributed to the two- to […]

The High Stakes in “Cold Chain”

Market changes are driving pharmaceutical companies to consider new ways to mitigate risk in the cold chain.
Wanis Kabbaj | UPS

A growing global middle class, longer supply chains, and the launch of new, innovative healthcare products are putting more complex demands on the pharmaceutical industry’s high-stakes logistics environment. Factors such as new, temperature-sensitive biologics, increasing cold-chain regulations, and growing cost pressures require pharmaceutical executives to reconsider how they prioritize “cold” supply-chain decisions. Strategies such as […]

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 […]