Whereas business interruption insurance covers lost profits and continuing expenses as a result of physical damage to a policyholder's own facilities, contingent business interruption insurance covers such losses stemming from damage to the premises of a supplier or customer. Large companies typically have both types of insurance as part of their property insurance policies; smaller companies may not have the contingent business interruption extension.
The speed of change, sustainability and customization are three issues currently impacting the supply chain, says Dan Whitnable, director of business development at Hilmot Corp. He explains what these trends mean for the warehousing sector and its customers.
Throughout the logistics industry, food is one of the most demanding goods moved around the world. Statistics also show that it is also one of the most disposed products worldwide in relation to the produced quantity with 30 to 50 percent of food going to waste. The highest portion is on the consumers' side. But In the supply chain, a non-stop cold chain monitoring is the major instrument for food staying fresh and not rotting ahead of time. There are already several solutions in the field to collect data to monitor the cold chain. But most of these solutions are costly to install and to maintain and therefore only suitable for high-priced products such as pharmaceuticals. Wireless sensors that use the energy harvesting principle now overcome these challenges and open the door for a complete traceability of food at affordable costs.
All of the LD3 containers used by Lufthansa Cargo are now the lightweight versions. The LD3 standard containers produced using lighter composite materials are helping to reduce fuel consumption and emissions at the airline.
The price of popular breakfast cereals is set to soar over the next 15 years as a result of climate change, argues a new report from Oxfam International.
As extreme weather impacts global supply chains, industries must keep resources moving. Be it the flow of goods, electricity, communications or oil and gas, today's governments, global manufacturers, aid relief organizations and insurance firms are worried sick over supply chain disruptions. And it's easy to see why.
These are challenging times for emerging markets. China's economy is expanding at the slowest pace in more than a decade, and annual growth in once-booming nations like Brazil, Mexico, Russia, and South Africa has slowed to about 1.5 to 2.5 percent. Look around the developing world, and currencies are weakening, worries about asset bubbles and rising debt are mounting, and foreign direct investment has fallen sharply. This volatility leaves many companies wondering if they are overexposed to the risks of emerging markets.
Gartner Inc. has released the findings from its 10th annual Supply Chain Top 25, and for the seventh year in a row Apple has topped the list. McDonald's took second place, and Amazon came in third.