• Latest
  • Trending
  • All
  • Industry
  • Compliance
  • Global Trade
  • Industry
  • Sustainability & Ethics
  • Video
  • Security & Risk
New Approach to Risk Management Applied Across Industries

New Approach to Risk Management Applied Across Industries

06/03/2024
U.S. Delays Tariff Hikes on Imported Furniture and Cabinets Amid Trade Talks

U.S. Delays Tariff Hikes on Imported Furniture and Cabinets Amid Trade Talks

01/05/2026
2025 Peak Retail Season Delivers One of the Strongest Markets for Trucking in Year

2025 Peak Retail Season Delivers One of the Strongest Markets for Trucking in Year

01/03/2026
Saudi Arabia’s New Data Hub Project Could Transform Digital Logistics Infrastructure

Saudi Arabia’s New Data Hub Project Could Transform Digital Logistics Infrastructure

01/02/2026
U.S. Postpones Tariff Hikes on Imported Wood Products, Easing Immediate Supply Chain Pressure

U.S. Postpones Tariff Hikes on Imported Wood Products, Easing Immediate Supply Chain Pressure

01/02/2026
White House Pushes Back Tariff Increases on Furniture and Wood Products

White House Pushes Back Tariff Increases on Furniture and Wood Products

01/05/2026
Caribbean Offshore Growth Spurs Push for New Logistics Hub Development

Caribbean Offshore Growth Spurs Push for New Logistics Hub Development

12/31/2025
U.S. Pressure on Venezuela Disrupts Regional Logistics and Trade Flows

U.S. Pressure on Venezuela Disrupts Regional Logistics and Trade Flows

12/30/2025
Warehousing Sector Calls for Fresh Economic Strategy to Match Supply Chain Realities

Warehousing Sector Calls for Fresh Economic Strategy to Match Supply Chain Realities

12/30/2025
India’s GST 2.0 Reform Set to Drive Faster, Cheaper and More Reliable Logistics

India’s GST 2.0 Reform Set to Drive Faster, Cheaper and More Reliable Logistics

12/29/2025
LTL Freight Set for Potential Rebound in 2026, but Uncertainty Looms

LTL Freight Set for Potential Rebound in 2026, but Uncertainty Looms

12/29/2025
Vietnam Urged to Clear Logistics Bottlenecks to Strengthen Supply Chain Competitiveness

Vietnam Urged to Clear Logistics Bottlenecks to Strengthen Supply Chain Competitiveness

12/29/2025
Container Shipping Rates Climb as Christmas Demand Strengthens Freight Market

Container Shipping Rates Climb as Christmas Demand Strengthens Freight Market

12/29/2025
supplychainreport
Tuesday, January 6, 2026
  • Home
  • Industry
    • Supply Chain
    • Logistics & Transportation
    • Importing & Exporting
    • Manufacturing
    • Warehousing & Distribution
  • Compliance
    • Supply Chain Transparency
    • Anti-Money Laundering (AML)
    • Know Your Customer (KYC)
    • Risk Management
    • Export Controls
    • Sanctions
  • Global Trade
    • Market Trends
    • Economic Indicators
    • Sourcing
    • Trade Policies
    • International Relations
    • Trade Agreements
    • Tariffs & Duties
    • Import/Export Statistics
  • Luxury Goods
  • Industry
    • Blockchain in Supply Chain
    • Importing & Exporting
    • Automation & Robotics
    • Artificial Intelligence in Trade
    • Data & Analytics
  • Sustainability & Ethics
    • Green Supply Chains
    • Sustainable Logistics
    • Ethical Sourcing
    • Corporate Social Responsibility
    • Environmental Policies
  • Security & Risk
    • Cybersecurity in Trade
    • Fraud & Scams
    • Risk Mitigation
    • Security Protocols
    • Data Protection
  • ITC News
    • ITC Featured Members
    • ITC Business Councils Highlights
  • Events
    • Upcoming Conferences
    • Upcoming FREE Educational Webinars
No Result
View All Result
supplychainreport
No Result
View All Result

New Approach to Risk Management Applied Across Industries

by Daisy Mae D.
06/03/2024
in Compliance, Risk Management

A conceptual framework known as the Swiss cheese model, traditionally utilized in medical contexts, is gaining traction as a versatile tool for risk management across various sectors.

The Swiss cheese model illustrates how accidents can occur when multiple barriers, represented by slices of cheese with random holes, fail to prevent hazards from progressing. In this model, each hole represents a gap or flaw in the defensive system. For an accident to happen, these gaps must align, allowing risks to penetrate through multiple layers of defense.

YOU MAY ALSO LIKE

Commonwealth Capital Expands Food Services, Strengthens Resilience in Competitive Market

China Expands Export Controls on Rare Earths and Related Technologies

The application of this model extends beyond medical scenarios to business contexts, particularly in the proactive management of new ventures. In the business realm, organizations seek to align the “holes” in the cheese to facilitate the success of new initiatives. This involves breaking down silos between departments and aligning expertise to identify and address potential barriers to success.

For instance, during the conceptualization phase of a new product or strategy, departments such as research and development, sales and marketing, finance, production, and human resources collaborate to assess various aspects of feasibility, marketability, profitability, and implementation. By aligning their efforts, they aim to minimize barriers and increase the likelihood of success.

Moreover, the Swiss cheese model can be applied beyond business, such as in sports, where teams face challenges that require multidimensional solutions. By identifying and addressing barriers collectively, teams can enhance their performance and overcome obstacles more effectively.

In conclusion, the Swiss cheese model offers a systematic approach to risk management, emphasizing collaboration and alignment across various disciplines. While success is never guaranteed, this approach enhances the likelihood of navigating through potential obstacles to achieve desired outcomes.

Discover the latest in supply chain logistics news on The Supply Chain Report. Free international trade tools are available at ADAMftd.com.

#RiskManagementEvolution #IndustryRiskApproach #CollaborativeRiskMitigation #GlobalRiskStrategy#SupplyChainNews

ShareTweet

Share Your News

Whether it’s a groundbreaking achievement, a heartwarming tale, or an insightful perspective, we want to hear it. Share your news with us, and let’s amplify your voice in the digital symphony of stories.

Submit

A man is riding a bike on a hill.

The Supply Chain Report is your essential daily news website, serving as a trusted source for comprehensive coverage of the complex and ever-evolving global supply chain dynamics. Our expert team delves into the intricacies of international trade, manufacturing, logistics, importing, exporting, and supply chain management; providing in-depth analysis and up-to-date news on the latest trends, disruptions, and technological advancements affecting industries worldwide. From detailed reports on international trade through to insights into procurement strategies and inventory management, we offer valuable content that helps professionals stay informed and make knowledgeable decisions in a fast-paced market.

Each day, we bring you cutting-edge news and expert commentary that dissect significant international trade and supply chain issues Our coverage spans a wide array of sectors including manufacturing, retail, healthcare, food, consumer goods, and technology, ensuring that no matter your field, you have the strategic information needed to navigate the challenges and opportunities of today’s supply chain landscape. By synthesizing complex data and presenting actionable insights, The Supply Chain Report empowers business leaders, policymakers, and logistics professionals to optimize their operations and drive forward with confidence in an interconnected world.

Connect With Us

  • About
  • Events
  • Privacy Policy
  • Contact Us

© 2024 International Centre for Trade Transparency Limited. Incorporated in the United Kingdom.

No Result
View All Result
  • Home
  • Industry
    • Supply Chain
    • Logistics & Transportation
    • Importing & Exporting
    • Manufacturing
    • Warehousing & Distribution
  • Compliance
    • Supply Chain Transparency
    • Anti-Money Laundering (AML)
    • Know Your Customer (KYC)
    • Risk Management
    • Export Controls
    • Sanctions
  • Global Trade
    • Market Trends
    • Economic Indicators
    • Sourcing
    • Trade Policies
    • International Relations
    • Trade Agreements
    • Tariffs & Duties
    • Import/Export Statistics
  • Luxury Goods
  • Industry
    • Blockchain in Supply Chain
    • Importing & Exporting
    • Automation & Robotics
    • Artificial Intelligence in Trade
    • Data & Analytics
  • Sustainability & Ethics
    • Green Supply Chains
    • Sustainable Logistics
    • Ethical Sourcing
    • Corporate Social Responsibility
    • Environmental Policies
  • Security & Risk
    • Cybersecurity in Trade
    • Fraud & Scams
    • Risk Mitigation
    • Security Protocols
    • Data Protection
  • ITC News
    • ITC Featured Members
    • ITC Business Councils Highlights
  • Events
    • Upcoming Conferences
    • Upcoming FREE Educational Webinars

© 2024 International Centre for Trade Transparency Limited. Incorporated in the United Kingdom.