You might think that there’s nothing you can do about fires or explosions that are going to disrupt your business. And, indeed, it’s true that you’re unlikely to prevent them. But this doesn’t mean that you can’t mitigate them. If you know about the incident as soon as possible, you can take fast action—for example, by making sure you understand how your company will be impacted, and then taking steps to circumvent it.
But don’t take our word for it—our customer Stockmeier can tell you themselves. When riskmethods alerted them to an explosion at a facility in their supply chain, they couldn't get in touch with the supplier. Just in case, they decided to import two strategic products from another provider. The next day, their supplier declared force majeure on all products that the chemical distributor bought from them, and prices in the industry started climbing. Because Stockmeier took immediate action after receiving the alert from riskmethods and before the news was widely publicized, they realized a $300,000 purchasing advantage.
Whether you work in the Chemicals industry or not, here’s the bottom line: Fires and explosions happen. But you can do something about it.
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