Outsource/Supply Chain Risk Management Programmes
Many companies believe that once procurement of outsourced products, components or services has been established with cost effective prices the job is done! We have seen a number of cases where little, if any, analysis of the suppliers’ dependability has been conducted. Also, while there may have been reviews of the Supplier’s Quality Control nothing has been evaluated as to the potential for liability claims arising from the supplied products.
Such oversights can be very costly and seriously damaging to the Business’ Brand causing increase in costs, failure of supply, loss of customer base and the resultant negative impact on profits.
PBRM can evaluate the Business’ Supply Chain, identify the Critical Suppliers, highlight key risk components and assess the ultimate potential impact as well as providing suggestions to mitigate a negative result.
As part of the process we can:
- Review the Suppliers’ BCP and determine it is appropriate. Where necesary identify improvements to be made and advise the Company on additional contingency measures to be added to their own BCP.
- Ensure that any potential impact from Product / Completed Services Liability are properly protected and minimise any impact to the Client’s Balance Sheet maintaining the optimal “Cost of Risk”.
- Where necessary work with the Client and their Brokers to procure specific Supply Chain Insurance ensuring the balance sheet is protected from any impact that results from their Suppliers failure to deliver.