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food and beverage | Victual

POSTED BY in Asset Risk, Crisis Management, Financial Risk, Risk Management - TAGS , , , , , , , , ,

Understand The Financial Risks In Your Business

Do you fully understand the financial risks in your business? Financial Risk comes in many diverse forms and predicting scenarios which may cause your business to lose money, can help protect your long-term profitability and viability. Whilst businesses in the food and beverage industry will all have different exposure points, it’s fair to say that common risk areas exist, allowing…

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POSTED BY in Asset Risk, Blog, Chain of Responsibility, Crisis Management, Dieases, Environment, Financial Risk, Food Safety, Injury Management, News & Articles, Product Recall, Production Risk, Reputation, Risk Management, Safety, Safety Management System, Supply Chain - TAGS , , , , , , , , , , ,

Product Recall – Can You Recall Your Plan?

What would your plan be if one of your products needed to be recalled? Everyone in the Food and Beverage industry acknowledges that a recall can be catastrophic for the brand and reputation of their organisation.  The aim of any recall is to stop the sale and distribution of a product as soon as possible. For businesses in the food and beverage industries,…

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POSTED BY in Asset Risk, Crisis Management, Environment, Food Safety, News & Articles, Production Risk, Risk Management, Safety Management System, Supply Chain - TAGS , , , , , , , ,

Links between supply chain and the current global circumstances

We live in a Global economy, which interconnects Australian businesses to other countries to fulfil their supply chain. Any disruption to the supply chain, such as the awful situation occurring right now in Ukraine, can create unprecedented risk to businesses. The impact of war and political unrest is likely to have widespread repercussions across the global markets. Closer to home we…

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POSTED BY in Asset Risk, Blog, Crisis Management, Cyber risk, Financial Risk, Food Safety, Legal Risk, Product Recall, Production Risk, Reputation, Risk Management, Strategic Risk, Supply Chain - TAGS , , , , , , , ,

Creating Value Through Managing Your Risk

70% of organisations only evaluate their risk profile on an annual basis, limiting their ability to tailor their risk management plan and business strategy to mirror the ever-changing commercial landscape – EY  The guiding standard for risk management, ISO 31000, defines risk as the effect of uncertainty on objectives.  Whilst this framework can be helpful, in establishing the context, and identification…

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POSTED BY in Blog, Cyber risk, It Depencency, Production Risk, Risk Management, Safety, Safety Management System, Uncategorized - TAGS , , , , , , , , , ,

Cyber-Security

Businesses on guard  With businesses increasingly connected online, do you understand your cyber-security risks?   Cyber-security is a growing concern for business owners in the Food and Beverage industry. It’s not a case of if you face a cyber threat in the future, but when.  Whilst every business will have different exposure points, a cyber threat shouldn’t be taken lightly due…

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POSTED BY in Cyber risk, News & Articles, Production Risk, Risk Management, Safety, Safety Management System, Supply Chain - TAGS , , , , , , , , ,

Understand Your Supply-Chain

How much do you understand your supply-chain? It sounds like a simple question, but it’s important to realise that a resilient supply chain can help you sidestep avoidable risks and grow your business. Only 22% of companies have a proactive supply chain network. (Logistics Bureau, 2020) Your supply chain is one of the most critical elements to running your business and disruption at…

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POSTED BY in Blog, Reputation, Risk Management, Strategic Risk - TAGS , , , ,

Missed opportunities in the Food and Beverage industry

Our podcast on adding value to your organisation using risk management: This month we were fortunate enough to be interviewed by Suzy Yates from The Podcast Agency. We’ve still got our regular monthly article full of insights but you can click the media file below for additional information on how you can leverage your risk management processes to add value to…

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POSTED BY in Blog, Strategic Risk - TAGS , , , , ,

How robust contract management can keep your money where it belongs

By now we’re all aware of the upcoming changes to our Grocery Services Agreements due to the Food and Grocery Code of Conduct. If you need a refresher read our previous article which covered the FGCC in detail. As you know, every organisation has a multitude of different types of contracts, some of which command more or less focus than…

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