Risk Management

November 13, 2018
7:00 AM to 9:00 AM
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Liberty Hall
800 Eisenhower Drive
Kimberly, WI 54136
http://libertyhallfoxcities.com/
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Risk Management

Professional Development Meeting

November 13, 2018

Location:       Liberty Hall

                       800 Eisenhower Drive

                       Kimberly,  WI  54136

When:             7:00 a.m. – 7:30 p.m.              Breakfast

                        7:30 a.m. – 9:00 a.m.              Presentation          

                         Program Fee:          ISM Members: $30             Non-Members: $50          Student:  $20       

Registration Deadline:  Noon Friday November 9, 2018

How to Register:  Visit http://www.ism-newisconsin.org/ to register and pay

Risk Management

Risk is a term that is fraught with ambiguity and prevalent in most aspects of any supply relationship.  While commercial failure is what is most commonly associated with supply risk, it is not the only source of loss of supply.  Acts of nature, economic and political pressures, changes to industry regulations, supply market consolidation, forward integration and government instability  are all sources of supply risk that need to be considered.  (A recent Vollrath acquisition yielded a supply chain that included sources in Pakistan and Turkey)

The approach to managing supply risk has been threefold:

1)      Simplify, identify and segment– consolidate to a smaller supply base and identify which suppliers would potentially be the most damaging to lose

2)      Monitor, communicate and visit – implementation of a system that monitors commercial, economic and political risk.  Establish stronger ties between those interacting with the suppliers and those that are monitoring – triangulate with delivery, lead time and fulfillment% information.  Red flags may require an onsite visit and/or audit.

3)      Contracts – For suppliers of critical products, establishing agreements requiring notification of supply changes, maintaining strategic inventories, management and reporting of agency approvals (i.e. UL), supply exclusivity, etc.  Also inclusion of bailment agreements for company owned assets.

The trade environment in 2018 has yielded significant challenges and volatility to cost and supply management in the face of escalating tariffs, currency volatility and supply constraints.  This year has underscored the need to consider market risk in aggregate as a threat to business revenues and to adopt supply chain resiliency as a key risk mitigation component of any category strategy.

Speaker - Marc Durant, Director of Purchasing - Vollrath Company 

Marc Durant is currently the Director of Purchasing at the Vollrath Company in Sheboygan and is responsible for setting the strategic direction and policies for global procurement.  Having immigrated to the US from Canada after obtaining a bachelors’ degree from Trent University and subsequently an Executive MBA from Marquette University, Marc’s career in Supply Chain has spanned 22 years working with small to large Wisconsin companies in a variety of roles.   Marc lives in Sheboygan Falls with his wife Susan and daughters Claire and Sophie

 

 

Tickets

$20.00 Student Ticket

$30.00 Member Ticket

$50.00 Non-Member Ticket