First day at LogiChem and I attended a presentation on “Proactive Supply Chain Risk Management to Mitigate Future Disruptions” given by Bill Adams, Director of Americas Logistics for Hercules Corporation.
Overall, we tend to be so involved in the day to day business that we seldom think about risk or risk management until a disaster happens. Bill pointed out that collaborative risk management with your logistics partner is an effective way to lower transportation risk and even unplanned risk like a hurricane.
While the analysis and data collection require a process to analyze the potential risks and a dedication to dig into the data, if done in collaboration with a partner provider, the process can be valuable and reasonably efficient to accomplish. Hercules partners with Odyssey Logistics & Technology (OL&T) to obtain the risk factors based on volume and containers. Using OL&T’s system to determine population risk factor and then measure based on a straight calculation, Bill said that he can determine the severity of hazardous levels.
From this data, Hercules can map ’supply chain at risk” products and assess the pipeline to collaborate with suppliers and put in risk management actions. Sounds like Hercules is on to something!
