If there is one lesson we’ve all had to learn over the course of these past few years, it’s proper risk management over our supply chains. Whether you’re facing delays due to storms, worried about unscrupulous suppliers, or other risks to your business, it’s vital to take risk management seriously. Being proactive about the inherent risks to your supply chain will give you the confidence to move forward no matter what the circumstances may be. Let’s focus on some of the most important methods of risk management in your supply chain.
Flexibility is a key component of supply chain risk management, particularly in sourcing and distribution strategies. Conducting supplier audits helps ensure that your suppliers are honest and not providing you with counterfeit products as well as verifying performance against your contractual agreements. These audits can also highlight gaps in your supplier’s schedules which will provide feedback on what can/needs to be improved upon. Developing the flexibility to adapt to new sourcing and distribution strategies will provide customers with confidence in your ability to deliver orders and give you the ability to adapt as needed when circumstances change.
Improving traceability in your shipments will also help mitigate risks against your shipments since customers want to know where the shipment is at all times. Determining where and when damages occur will help ensure that steps are taken to prevent such damages from occurring again. Improving traceability can consist of multiple technologies that help you determine where your shipment is at any given time. Your carrier will be able to provide you with multiple options for tracing your shipment as well as recommendations that will work for you. As proactive as we wish to be for risk management, the question now becomes: what happens when something goes wrong?
In spite of everyone’s best efforts, things will inevitably go wrong. That’s why you must develop a well coordinated team of individuals as well as properly placed communication channels throughout your organization. Having a team in place that is able to communicate quickly and take necessary action will give your organization the ability to ensure your shipments are protected. Having your shipments protected will build trust with your customers, and provide you with peace of mind that your shipments will arrive when they need to.
Here at Zip Xpress, we understand the importance of risk management for all of the shipments that are under our care. We can provide flexibility by working directly with you, your suppliers and your customers to get every shipment to its destination on time and undamaged, on the timetable that works best for you. We provide traceability by coordinating and scheduling pickup & delivery of shipments in our care and you’re able to track your shipments online through our portal anytime you need to. To see how we can help fortify your supply chain, start today with Zip Xpress!