The rash of natural disasters this year spotlighted property damage as one of the key elements of supply-chain risk that companies must not only identify but quantify to achieve an effective risk/reward balance.
"Companies tend to focus on quality, costs inventory, margin pressures, the obvious things. But property risk has been a blind spot," says Eric Jones, manager of the business risk consulting group at FM Global. "With all the property-related events that have occurred, companies are starting to recognize that blind spot."
The focus on property risk accompanies a broader emphasis on managing the risks in supply chains, which have been bombarded not only by a series of natural disasters but volatile commodity and financial markets as well as political upheavals.
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