Supply Chain Risk – What Does the Contract Say?

Posted by The ALS Group on Aug 3, 2020 12:43:13 PM

As companies think about their supply chain and the risks that are inherent with that area, a good place to start is with your contract terms with the supplier – what are the terms you want? What are the terms you have agreed to?

With the unsettling state of affairs of the world today, a manufacturer or distributor has to be properly vetted and the terms of supply carefully considered. What is an acceptable delay or non-delivery? 

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Topics: Compliance, Enterprise Risk Management (ERM), Risk management, supply chain, Total Cost of Risk (TCoR), risk transfer

Supply Chain Risk- How “Wood” You Prevent Your Companies From Being Exposed to a Financial Loss?

Posted by The ALS Group on May 19, 2015 6:03:17 PM

A recent article in the Wall Street Journal highlighted the plight of Lumber Liquidators who has been struggling to deal with the fallout from a scandal that was caused due to the use of formaldehyde in its wood.  You may have seen this on a “60 Minutes” program in early March. If you are a retailer after reading this article and watching the 60 Minutes TV spot you must be asking the question. How well do I know my 3rd party vendors and what  process, if any, does my organization have to contain a similar event?

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Topics: Claims Management, Insurance, Lumber Liquidators, Manufacturing and Distribution, Reputational Risk, Risk management, Risk Management Blog, strategic, Strategic Risk Management, supply chain, Supply Chain Risk, The ALS Group, Total Cost of Risk (TCoR)

Supply Chain Reputational Risks Heightened Amid Recent Worldwide Factory Deaths

Posted by Albert Sica on Jul 17, 2013 1:19:36 PM

A recent Wall Street Journal article about a high profile factory accident, this time in Cambodia, brings new emphasis to the fallout that can arise from supply chain risk. Asics Corporation, the Japanese sport shoe manufacturer, sourced some of its shoes from a factory in Phnom Penh. In April 2013, a mezzanine floor collapse killed a young father and a young woman who, reportedly, was only 15. The incident also injured a number of other workers. Fallout from the incident was almost immediate. Asics instructed its nine suppliers in Cambodia to join Better Factories Cambodia, which keeps tabs on working conditions in the Cambodian garment industry.

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Topics: Enterprise Risk Management (ERM), Enterprise Risk Management, ERM, Manufacturing and Distribution, Reputational Risk, Risk Management Blog, Strategic Risk Management, supply chain, Supply Chain Risk, TCoR, Total Cost of Risk

The ALS Group

Risk Management Blog

We manage more than a quarter billion dollars of premiums for a diverse range of clients around the globe. 

Our areas of expertise include:

  • Enterprise Risk Management (ERM)
  • Cyber Security & Cyber Liability Insurance
  • Construction Management
  • Customized Risk Management Assessments (RMAs)

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