@Risk

Disasters such as the massive BP Gulf oil spill and the gas pipeline explosions in Pennsylvania, California and Texas have shown that accidents related to energy supply can be enormously costly –in terms of human lives, environmental degradation and the economy.

In fact, analysts estimate that the national cost of energy supply accidents over the past decade exceeds $50 billion, mostly from oil spills and electric power outages.

But no research has thoroughly examined the full scope of costs from US energy supply accidents  . . .  until now.

This spring, 24 students from the departments of Engineering and Public Policy (EPP) and Social and Decision Sciences (SDS) at Carnegie Mellon University completed a comprehensive analysis of accidents in the production and delivery of energy across the country, and the results may surprise you.

For example, the study found that: (more…)

Supply chain visibility is growing increasingly important as companies struggle to rebound from the recession and better manage global supplier networks that are becoming progressively more unwieldy.  In fact, the Aberdeen Group recently surveyed 183 companies and found that supply chain visibility is now a top concern for firms looking to cut costs and improve response times to changing customer demands.

The survey results, compiled in Supply Chain Visibility Excellence: Fostering Security, Resiliency, and Efficiency, revealed that: (more…)

While there’s no doubt that new approaches to supply chain management are gaining a foothold at many companies, most businesses today still see cost as their main priority.

In fact, a recent KPMG survey polled nearly 200 senior-level executives from the aerospace, metals, engineering and conglomerates sectors across North America, Western Europe and Asia-Pacific, and it revealed that: (more…)

We all know supply chain optimization can save money. But, a new report suggests that the US government could save a massive $500 billion by simply putting best practices to work and decreasing duplication in its supply chain network.

The report, released last week by the Technology CEO Council (TCC), says better aligning government supply chains would also “render the government’s procurement process far more transparent, helping to strengthen public trust.” As I see it, there’s one more significant benefit, too: risk mitigation. Improving supply chain visibility is an essential first step to reducing both short-term and long-term threats.

In addition to decreasing supply chain duplication, TCC’s report also reveals several other areas where tax dollars could be saved.  For example, TCC suggests improvements with regard to: (more…)

The Indian retail sector is in high-growth mode, and analysts expect it to grow more than $879 billion by 2018.

But, a new study says this growth is jeopardized by inefficient supply chain systems.

The new research, conducted by the Confederation of Indian Industry (CII) and Amarthi Consulting, says India loses $65 billion every year due to inefficient supply chain systems. The country, ranked 47th on logistics, lags behind others, such as Japan, US, Germany and China, and faces significant supply chain challenges, including: (more…)