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How Supply Chain Risk Can Harm Your Clients

Unfortunately, one of the hard truths we are all experiencing in this “post-pandemic” world are the issues caused by supply chain disruption.

Whether it’s buying a new car, cell phone, house, building supplies, or even a gallon of milk – we have either paid more or gone without until the items can be properly restocked.

While this may be inconvenient for us as consumers, it can be devasting to a business.  Especially if the business is relying on outside partners to provide necessary supplies.

For example – Imagine your dog training and supply business is featured on the nightly news highlighting your new dog training harness. Immediately, the demand for this new device skyrockets, which is amazing for your business.  But, what if your production supplies come from out of state or Europe with a backlog of parts up to 6 months?

How will this affect your business?

The potential loss of revenue, opportunity, and reputational damage is a real-life problem. And it is playing out across the world affecting many businesses large and small.

Supply Chain Risk Exposures

Look at what those supply chain risk exposures can be:

Internal

  • Location Risk – Natural or Manmade Hazards
  • Infrastructure Risk
  • Product Bottle Necks
  • Supply Sourcing
  • Information Technology
  • Strikes or Employment Issues

External

  • Natural or Manmade Catastrophe
  • Loss of Supplies Due External Events
  • Change in Demand
  • Financial Risks
  • Political or Regulatory Risk

At RMC Group, we are uniquely qualified to help organizations identify, reduce, mitigate, and even eliminate some or all these supply chain concerns. The first step is often a free Comprehensive Risk Review.  This risk review gives a business owner significant insight into their risk management. Plus, it allows RMC Group to offer industry leading recommendations on how best to operate with greater efficiency.

We may even be able to show a business how to turn some of these risks into profit centers and to obtain insurance not available in the commercial market through a Captive Insurance Company.

For more information or how we can start a free risk review, contact RMC Group at 239-298-8210 or rmc@rmcgp.com.