Partnership approach helps minimise risk

Underestimating
the danger of using
substandard products
for securing cargo can
have dire consequences,
says Pooven Moodaliar,
managing director of
Cargo Lash.
“Not only do damage,
loss and claims increase
your overall
transportation
costs, they can
drive a wedge
between you
and your
shipping
partners.
Improperly
secured
cargo results
in many
accidents and
loss of life
each year due
to loads shifting during
transit.”
While risks cannot be
completely eliminated,
selecting an expert
logistics service provider
can be a critical component
of a comprehensive risk
management plan, says
Moodaliar. His advice is to
always use an expert rather
than try to cut corners and
save cost.
The risk is further
minimised when all the
parties involved in the
supply chain form strong
partnerships.
“With
everyone
working
together, the
process of
packaging,
shipping and
receiving is
streamlined
and ensures
that freight
gets delivered
on time, on
budget and
in the proper condition,”
he says. “The crucial factor
in risk mitigation and
management is the ability
to identify potential losses
from unexpected events.”
Commenting on the
biggest risks facing
the industry generally
at present, Moodaliar
identifies technology,
infrastructure and skills
shortages.
“Technology has
revolutionised the freight
and logistics industry,
largely for the better.
Digital technologies such
as the Navis system,
tracking and automation
have enabled market
players to achieve greater
economies of scale and will
remain a major growth
driver for the sector,”
he says. “But with all
its benefits, technology
presents a significant
challenge for the industry
too. Cyber risks are an
increasingly topical
and serious issue in our
industry.”
Moodaliar says ongoing
investment in roads and
ports is crucial for risk
management.
INSERT & CAPTION
Cyber risks are an
increasingly topical
and serious issue
in our industry.
– Pooven Moodaliar