Executive Briefings

Hanjin Bankruptcy Proves Need to Have Risk Management Strategy in Place

The recent bankruptcy of Hanjin container line clearly illustrates some of the risks involved in the global supply chain today. As The Guardian reports, "the bankruptcy of the Hanjin shipping line has thrown ports and retailers around the world into confusion, with giant container ships marooned and merchants worrying whether hundreds of tons of goods being carried by the South Korean company will reach shelves."

Hanjin Bankruptcy Proves Need to Have Risk Management Strategy in Place

While this will obviously have an effect on current shipments (and freight costs), and potentially on shipments of imports for the holiday season, thanks to excess capacity from the great recession and building of additional capacity, "this too shall pass."

But it does give one thought as to the necessity to always have a backup plan as you never want to get caught with "all of your eggs in one basket."

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While this will obviously have an effect on current shipments (and freight costs), and potentially on shipments of imports for the holiday season, thanks to excess capacity from the great recession and building of additional capacity, "this too shall pass."

But it does give one thought as to the necessity to always have a backup plan as you never want to get caught with "all of your eggs in one basket."

Read Full Article

Hanjin Bankruptcy Proves Need to Have Risk Management Strategy in Place