Risk Represents a Range of Possible Outcomes for Business Continuity and Disaster Response

Business continuity and emergency response managers know that recovering from a crisis requires proactive planning – regardless of whether you can see trouble approaching. Lessons from the COVID-19 pandemic have taught us to expect the unexpected. So called “black swan” events, dubbed such because they are supposed to be rare, are not as unusual as… Continue reading Risk Represents a Range of Possible Outcomes for Business Continuity and Disaster Response

5 Common Hurricane Response Plan Problems and How to Fix Them

Recent hurricane seasons have been some of the most active on record, with 21 named storms and seven hurricanes in 2021, and 30 named storms and 14 hurricanes in 2020. Looking ahead to the 2022 Atlantic hurricane season, observed and forecasted conditions, including the low probability of an El Niño, above-normal ocean heat content, and… Continue reading 5 Common Hurricane Response Plan Problems and How to Fix Them

Overcoming Challenges with REITs and Tenants

Few industries have been hit with as many difficult new challenges over the past year and a half as the real estate investment trust (REIT) sector. Amid continuing uncertainty in the office and retail real estate markets, REITs have had to grapple with challenges arising from the COVID-19 pandemic and a fast-changing regulatory landscape regarding… Continue reading Overcoming Challenges with REITs and Tenants

Lessons from Ukraine: Prioritizing Organizational Resilience

Submitted on March 23, 2022 U.S. theologist Warren Wiersbe once wrote, “The past is a rudder to guide you, not an anchor to drag you. We must learn from the past, but not live in the past.” Wiersbe was absolutely correct when we consider the COVID-19 pandemic, and perhaps even more apposite, the widespread fallout… Continue reading Lessons from Ukraine: Prioritizing Organizational Resilience

The Importance of Security at the Ports in the Wake of Growing Global Supply Chain Challenges

Historically, maritime transportation has been the most cost-effective way to ship bulk goods and materials around the world. More than 90% of the world’s goods are transported by sea, making ports the most-used channel of inspection and distribution. While the high volume of traffic already makes ports vulnerable to theft and crime, the added stress… Continue reading The Importance of Security at the Ports in the Wake of Growing Global Supply Chain Challenges

How to Be Resilient

The shocks of the past few years have made improving operational resilience a priority for every responsible organization, big or small, public or private. In DRJ’s ongoing commitment to serve our stakeholders with actionable insights on the topics that matter most, we will be diving deep into the topic at our fall 2022 conference, to… Continue reading How to Be Resilient

A Closer Look at C-SCRM and the IIoT

E-commerce businesses can use a C-SCRM program to maintain the integrity, security, quality, and resilience of a supply chain and its products and services. It encompasses strategies to manage risks in supply chains based on continual risk assessment. These risks can include: ● Insertion of malicious software or hardware ● Unauthorized production ● Tampering ● Theft A C-SCRM program It involves identifying, evaluating, and mitigating risks across digital and physical supply chains. It accounts for risks at each stage of the supply chain. The IIoT extends the IoT into industrial sectors and applications. It consists of "connected" physical objects, machines, sensors, and devices used to enhance industrial operations. For example, e-commerce businesses can use cloud-based software to manage warehouse inventory. The devices improve warehouse recordkeeping and security and help minimize risk and prevent inventory losses. In addition, e-commerce businesses can integrate IIoT sensors into conveyor belts, forklifts, and other machinery. They can utilize barcode scanners, label printers, and other IIoT devices. Doing so helps e-commerce companies get real-time performance and status updates. It also ensures these businesses can quickly identify and resolve supply chain issues. Best Practices for Using C-SCRM and the IIoT to Prevent Inventory Losses Today's e-commerce businesses face a supply chain balancing act. These businesses must deliver products and services to customers on schedule and on budget. At the same time, the global marketplace is evolving, and e-commerce businesses must plan accordingly. Otherwise, they risk supply chain problems that hinder their productivity, sales, and revenues. Prioritizing C-SCRM and the IIoT is key. E-commerce businesses can use both in lockstep with one another to streamline warehouse inventory management. There are several tried-and-true best practices for e-commerce businesses to build a C-SCRM program and integrate IIoT devices into their warehouse operations. These include: 1. Look Beyond Digital Risk Focus on cybersecurity and physical security. Conduct a cyber risk assessment to analyze a supply chain's cybersecurity posture. This helps identify cybersecurity gaps and determine the best ways to close them. Also, secure all IIoT devices. Provide authorized users with access to these devices. Verify that IIoT user device privileges are evaluated and updated regularly. 2. Plan for the Worst-Case Scenarios Assume cyberattacks and data breaches will happen. Consider the potential impact of these issues. Then, a company can understand how security threats can hamper its supply chain. Remain proactive when considering cyberattacks and data breaches. Remember, cybercriminals are frequently looking for ways to attack businesses. They will do whatever they can to exploit supply chain vulnerabilities. Therefore, a company must do everything in its power to keep pace with cybercriminals. 3. Understand Your Systems Find out what supply chain systems must be secured. It can be beneficial to hire a supply chain management expert to audit these systems. This expert can provide a personalized recommendation on how to protect the systems. A supply chain audit can provide insights into which IIoT devices can deliver the best possible results, and can highlight how to secure these devices. 4. Create a Company-Wide C-SCRM Program Establish a C-SCRM program that encompasses all departments. The program can be implemented across these departments at once. Employees of all skill and experience levels can receive training on the program and how they can contribute to its success. Along with a C-SCRM program, create a crisis management plan with predefined and approved decisions and content. The plan should detail how stakeholders can manage a supply chain crisis. 5. Monitor the Supply Chain Keep an eye on supply chain performance. If any issues crop up, find out why they are happening. Meanwhile, if supply chain problems linger or escalate, revamp a C-SCRM program. Be diligent in supply chain monitoring. A single issue can disrupt the supply chain and have far-flung effects on a company, its employees, and its customers. Yet, a business that monitors the supply chain closely is well-equipped to identify and mitigate a problem in its early stage. Plus, the company can take steps to prevent a supply chain issue from recurring. The Bottom Line on Supply Chain Risk Management for E-commerce Businesses Supply chain dangers are prevalent for e-commerce businesses. If left unaddressed, these issues can cause inventory losses and stifle business growth and development. A C-SCRM program can transform inventory management. When developed and implemented properly, the program helps a company seamlessly identify and mitigate supply chain risks. The program ensures a business can get the most value out of its IIoT devices. Craft and deploy a C-SCRM program that aligns with business goals. The program empowers a company to safeguard its supply chain and avoid inventory losses. It also ensures a business can keep its supply chain performing at peak levels. Katie Brenneman is a passionate writer specializing in lifestyle, mental health, education, and fitness-related content. When she isn't writing, you can find her with her nose buried in a book or hiking with her dog, Charlie. To connect with Brenneman, you can follow her on Twitter. Photo by Tiger Lily from Pexels

E-commerce businesses can use a C-SCRM program to maintain the integrity, security, quality, and resilience of a supply chain and its products and services. It encompasses strategies to manage risks in supply chains based on continual risk assessment. These risks can include: Insertion of malicious software or hardware Unauthorized production Tampering Theft A C-SCRM program… Continue reading A Closer Look at C-SCRM and the IIoT

When Is It Time to Hire a Crisis Management Professional?

Subscribe to the Business Resilience DECODED podcast – from DRJ and Asfalis Advisors – on your favorite podcast app. New episodes every Thursday. Episode 111: When Is It Time to Hire a Crisis Management Professional? This episode is brought to you by Fusion Risk Management, Building a More Resilient World Together. Request a demo at… Continue reading When Is It Time to Hire a Crisis Management Professional?

Protective Measures for Tornadoes and Best Practices

Subscribe to the Business Resilience DECODED podcast – from DRJ and Asfalis Advisors – on your favorite podcast app. New episodes every Thursday. Episode 110: Protective Measures for Tornadoes and Best Practices In 2011, the Tuscaloosa-Birmingham tornado tore through Alabama, forever changing the community. In this episode, Ken Horst, the assistant director of emergency management… Continue reading Protective Measures for Tornadoes and Best Practices