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Supply Chain Security is Worth Every Penny: Tips for Managing Losses
December 9, 2021
Supply Chain Security is an Ongoing Effort, Know Where to Begin
Supply chain security is a major difference-maker after a pandemic that challenged global markets and had businesses planning for the future. While many supply chains bent but never broke, a successful rebound from a difficult pandemic means that business owners must invest even more into their supply chain to promote ongoing productivity. Securing your supply chain is no simple matter, and your efforts will pay dividends in the long run.
Ensuring that your products get from point A to point B without any issues down the road is an ongoing conversation between business owners, your vendors, staff, and third parties. Supply chain security remains a complicated matter that requires extensive planning, innovative products, technology, and dedicated supply chain security that is always in motion.
Supply Chain Security: Begin by Understanding Supply Chain Disruptions
The final customer that receives your product is unaware of the intricacies of a successful supply chain. When disruptions happen, consumers may lose trust in your brand. Your ongoing efforts to protect your supply chain will ensure repeat business.
The truth, however, is that supply chain disruptions will continue to occur, despite your best efforts. These are the most common supply chain disruptions impacting just about every industry:
- The COVID-19 pandemic is a disruption that continues to challenge supply chains, resulting in additional costs to the business owner to ensure the safety of workforces. Further, travel restrictions have been an ongoing headache, while vaccination statuses of supply chain workers may present yet another hurdle in 2022.
- Natural disasters continue to be another real threat to supply chains, including flooding, landslides, hurricanes, and tornados. Power outages can also pose a significant risk to your supply chain.
- Ongoing global supply chain congestion as a result of the pandemic, along with travel restrictions and surging consumer demands, have created a backlog for businesses, especially in major global ports.
- Quality assurance of your goods is another, often overlooked, element of a supply chain disruption. As workforces have been under pressure to perform, and with ongoing worker shortages, the quality of your goods might be harmed or overlooked.
- Theft and fraud, including crimes of opportunity and elaborate internal plots within your organization, continue to threaten your bottom lines.
Supply Chain Security in Your Business, Learn How to Manage Losses
Here’s how business owners can invest in their supply chain security and mitigate losses, both internal and external:
- Regular risk assessments can pinpoint potential issues in your supply chain, allowing you to plan for disruptions and mitigate them as they occur.
- Review and limit access as you might be surprised by the number of staff that have access to certain elements of your supply chain that are unnecessary. A simple access control system can control the flow of goods and people through specific areas of your warehouses.
- Incident response and training efforts, especially for truck drivers, can ensure that your drivers know how to respond in the midst of a crisis. Promote accountability and integrity among your staff with ongoing training and seminars while rewarding those who notify management of potential issues or fraud.
- GPS tracking can ensure that your supply chain moves its precious goods on time without any disruption. When GPS services show a deviation, law enforcement can be notified.
- Breach detection technology is a highly effective measure in mitigating losses. It can notify you or supply chain managers when precious cargo is opened.
- Driver Vehicle Inspection Reports (DVIR) ensure compliance throughout the supply chain and act as a pre-trip and post-trip inspection of your cargo.
- Cargo intruder DNA spray systems are an innovative way to mark criminals who target your cargo or supply chains. With DNA codes specific to a company and trailer, these systems can help track down stolen cargo and deter criminals from attempting to steal from your business.
- In times where businesses are planning for large shipments of precious goods, security escorts are an invaluable tool to reducing the risk associated with moving goods across the country.
- Background screening and criminal background checks can deter criminals from infiltrating your supply chain by seeking work in your company. Screen entire workforces and pinpoint those with problematic criminal histories of theft and address these risks accordingly.
- Tamper-proof locks can ensure that your cargo is only opened upon arrival at its final destination.
- Supply chain risk evaluations and audits conducted by specialized third parties can bring to light risks that are often overlooked by business owners. Those who dedicate their lives to ensuring supply chain security can offer their expertise and ensure that your business can see potential problems before they arise.
Supply Chain Security Solutions Such as PULSE, Powered by ISB Global Services
Investing in your own supply chain security can ensure a successful economic rebound after a challenging pandemic. Leave no stone unturned with supply chains security services offered by ISB Global Services.
PULSE, powered by ISB Global Services, is a comprehensive suite of cargo loss prevention and supply chain security products and services. Our products are tailored to help businesses of all kinds reduce risk exposure and mitigate cargo crime losses. Services are far-ranging and can include extensive supply chain security assessments, driver and criminal background checks, including supply chain risk evaluations, services, and audits.
ISB can offer ongoing assessments of your supply chain and prevent theft and fraud in your workplace before it happens. Criminal record and driver checks can help HR make informed decisions that promote a culture of accountability and respect within your workforce.
Contact us directly to learn about our extensive suite of supply chain security products that can mitigate risks and ensure the long-term success of your supply chain.