@Risk

Yesterday, the U.S. House of Representatives approved a comprehensive food-safety bill that could affect virtually every aspect of the nation’s food supply chain. The 159-page Food Safety Enhancement Act represents the first major changes to food safety laws in 70 years and would significantly boost the Food and Drug Administration’s authority to regulate how food is grown, harvested, and processed.

The Senate is expected to vote on its version of food-safety legislation this fall.

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I’ve posted before about preparing for the potential impact of swine flu on your supply chain.

But according to legal experts, it’s also time for companies to start readying themselves for an increase in lawsuits filed by employees who become ill with H1N1 influenza. Personal injury, health and safety, and negligence claims are all likely to rise over the next year.

“If employers don’t take some steps to consider what will happen if someone is affected, there are a myriad of health and safety and duty of care regulations that would come into play,” Caroline Doran, partner in employment law at Sprecher Grier Halberstam, told the Guardian.co.uk .

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A new report released by PricewaterhouseCoopers (PwC) urges companies to become more risk resilient by better integrating risk and corporate performance management. The report, “Seizing opportunity; Linking risk and performance,” from PwC’s Thought Leadership Institute, offers suggestions to help organizations adopt a more holistic and integrated view of performance and risk, so that they can better respond to both the economic threats and opportunities in today’s business environment.
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Yesterday I introduced you to supply chain guru Pierre Mitchell, from The Hackett Group, and we discussed the importance of considering supplier risk from another perspective, namely the perspective of the seller/supplier. I encouraged you to start asking what may, at first, seem like difficult questions, such as:

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These days, supplier risk is emerging as a top business concern. Companies are turning a critical eye on their suppliers hoping to get a handle on thorny questions about financial viability, price, scheduling, workforce issues, compliance, etc.

But in the midst of all this supplier risk analysis, it’s critically important to remember one significant detail: your suppliers are eyeing you right now, too. They’re weeding out poor customers, eliminating headaches, and mitigating risk from the perspective of sell. Of course, no one wants to be caught off-guard– especially in today’s business environment. So, if you haven’t done so recently, it’s time to take a look at a list of your critical suppliers and ask yourself a few probing questions, such as:
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