Reason Magazin 2014Q3 Seite 17

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theLATEST FM Global FMGlobal Find out and share what s happening FMGlobal in less than 140 characters Follow us on Twitter Pls RT twitter com FMGlobal twitter com FMGlobal Tweets Tweets and replies FM Global FMGlobal WHEN YOU RE RESILIENT YOU RE IN BUSINESS with upstream and downstream suppliers in sharing risk information How does that start I go back to the Cisco example When the demand shock took place it forced them to rethink their relationship with suppliers in terms of a more of a long term partnership They started sharing market and risk infor mation Executives even worked in supplier organizations to help them manage their risks They started to make investments both upstream and downstream This is the key to developing supply chain resiliency Have you heard about the FM Global Resil ience Index This is a very interesting tool As I men tioned before insurance companies are in a unique position to assess risk The Index helps provide companies with the ability to look at supply chain risk from a geographic perspective I like the idea of being able to break down the information as you have in the United States to within the country If there were one piece of advice that you would give to the risk management commu nity what would that be There is a huge opportunity for the risk man agement community to take a leadership role in supply chain resiliency Along with insur ers and brokers they are best positioned to assess external supply chain risk And yet little research has been done on assessing such risk I would suggest that risk man agers work with their insurers and brokers on developing a framework for assessing supply chain exposures and their potential impact on a company s top and bottom line Risk managers should partner with procurement executives to help them better understand the upstream and downstream exposures beyond the tier two suppliers Procurement can provide the provenance while risk managers can assess the risks Only then will the true costs be revealed in selecting and maintaining specific supplier relationships