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Mitigating Logistic Risks from Service Providers

Risk comes in many forms, and the risks faced depend on the nature and complexity of the business. The risks can arise from natural disasters and terrorist activities to finance and technological failures that may disrupt the global supply chain. The key is to identify and quantify the specific risks associated with the different types of business and mitigate those identified risks accordingly.

Attributes of Logistic Risks

Logistic risks refer to the risks that are exposed to the logistics operation that hinders a smooth performance for the overall supply chain. Logistic risks can be considered in any form from every global supply chain perspective.It is referred to uncertain probabilities or threat of damages, injuries, liabilities, loss, or any other negative occurrence that is caused by external or internal vulnerabilities. However, risks may be avoided through pre-emptive action.

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Rozzana Aziz, DLSM
Rozzana Aziz, DLSM
Rozzana Aziz has substantive years of experience in logistics and warehousing, specifically in global trade compliances. She holds the SIPMM Executive Certificate in International Trade Management and is a member of the Singapore Institute of Purchasing and Materials Management (SIPMM). Rozzana completed the Diploma in Logistics and Supply Management (DLSM) on September 2019 at SIPMM Institute.

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