Global Sourcing Logistics: How to Manage Risk and Gain Competitive Advantage in a Worldwide Marketplace

Risk Management

Corporations that operate global supply chains have the

same risks in their international business operations as in

their domestic operations. Larger companies typically em-

ploy professional risk managers or corporate insurance direc-

tors who arrange the purchasing of commercial insurance.

These professionals have responsibilities such as the fol-

lowing:

• Analyze exposures the company faces.

• Work with insurance brokers and underwriting compa-

nies.

• Develop risk retention and captive insurance programs.

• Provide financial analysis for decisions to accept, re-

duce, mitigate, or transfer risk.

• Manage loss control initiatives.

• Manage claims, recovery, and mitigation efforts.

• Developing corporate standard operating procedures

(SOPs) ...