Risk – When you deliver goods to a port to be loaded on a ship that is when risk begins. Transporting the goods that you have produced with all the cost that has gone into those goods is value that can be lost if you do not protect your assets. This is where insurance comes into play. Having the right contractual arrangements with customers and suppliers is central to having the right protections in place. In this episode Tony Hines discusses Cost Insurance Freight and Free On Board options. He emphasises that insurance is necessary to reduce risk.
Reputations take years to build. Organizations invest millions of dollars to build a brand but all of this can be destroyed in a moment. P&O has become such a company at risk in the United Kingdom by the CEO admitting he broke the law when he dismissed 800 employees in a Zoom call without notice.
Tony Hines also gives his 3 minute tip to build supply chain advantage by focusing on his 7V Framework.
This is why you should listen to the Chain Reaction Podcast – All About Supply Chain Advantage. Evidenced based opinion delivered directly to you about everything happening in supply chains affecting business. Stay informed about supply chains by listening to Chain Reaction – subscribe today.