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Risk management is like insurance: You often don’t think you need it, but when you do, you’re really happy to have it.

That’s especially true today for the supply chain, which is being increasingly called upon to help companies expand into new and unfamiliar areas in search of growth. When part of a complex, global business, a supply chain can be vulnerable to a host of risks, ranging from merely annoying to catastrophic. That’s why it’s critical to realistically identify, prioritize and mitigate risks to your supply chain operations to ensure your company is as prepared as possible to address the unexpected.

Here’s a problem faced by many small-to-medium-sized polymer enterprises (SMEs) – How to ship a less-than-a-truckload (LTL) lot for a reasonable cost. Many such SMEs approach shippers and ask for a discount. Usually, they get a reduction from the standard quote, and it might even be as high as 70 percent. While this sounds good, for smaller producers and manufacturers, even that shipping rate could be a rather pricey item.

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