In 2017 cargo crime accounted for over £55 million worth of goods stolen in the UK.
The insurance market continues to react to policyholder’s supply chain concerns. Many insurers are working in partnership with organisations providing supply chain services including supply chain compliance audits, intelligence and risk management software solutions, and advisory services.
These partnerships benefit policyholders and their broker partners with information of new supply chain trends and insights delivered via publication and webinars, which will help to build awareness around risks in the supply chain.
Understanding the risks, where they exist, and how likely they are to occur is important for organisations to help minimise delays, costs, financial losses and hazards that can result from this significant threat.
Supply chain security mitigation is not always about employing physical security measures. In addition, it should be focused on the development of increased resilience including creating procedures and risk assessment methods for organisation supply chain security programme.
Please contact us if you would like to receive more information on how these new developments can support your organisation in 2019.