Identifying weak links gets tricky up the supply chain, Advisen Risk Network ft. Eileen Ficaro
By Patricia O’Connell
(September 4, 2014)
Possible delays in shipment of Apple’s much-anticipated iPhone 6 and the recent earthquake in Northern California serve as reminders about potential supply chain vulnerabilities.
“You have two weak links in your company: your employees and your suppliers,” said Florian Beerli, senior vice president, product recall, ACE. “With 80 percent of our goods or the components for them coming from outside the US, you can’t be too careful about supply and suppliers.”
While having the appropriate insurance in place – including business interruption coverage – can help keep a company going financially, it’s no substitute for preparation and prevention.