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

• Maintain close interface with legal counsel to obtain

their input on all contracts and agreements.

• Ensure all supply chain personnel are briefed in corpo-

rate risk and insurance policy guidelines, such as poli-

cies, risk retention levels, and claims and loss control

policies.

• Set up regular review schedules to be updated on the

changes that take place in global supply chains. Make

sure brokers and underwriters also receive this infor-

mation.

• Develop excellent working relationships with all en-

gaged parties, so when loss or damage occurs, all parties

will cooperate and compromise to mutual resolve.

Companies that import and export must be sure to have

physical loss and damage exposures on goods and assets in

transit. The next section takes a detailed ...