FMCG

FMCG (fast moving consumer goods) companies market a wide variety of products, from confectionary and drinks to toiletries. With inherently complex supply chains and a fast turnover of stock, they must proactively manage a multitude of risks, including supply chain disruption through livestock/crop disease, contamination and product safety. These are further extenuated by the reputational risk with the consumer, requiring extra vigilance for brand rehabilitation in the event of product recall and the increasing focus on health and obesity problems.

Three key areas concern the risk manager – production, marketing and distribution. In addition, increasing legislation and regulation intensifies the need for more detailed information. With their inherently large distribution of assets, data and end-client exposure, consolidation of information for analysis is key.

RiskConsole is at the core of such initiatives, allowing clients to experience operational and financial benefits by consolidating and analysing risk data.

Benefits

• management of large property portfolio exposures, including factories, warehouses and retail outlets across multiple locations and countries
• efficient management and settlement of losses, such as product liability claims, contributing to protecting customer satisfaction and brand reputation
• losses at any stage of the complex distribution chains can be tracked, enabling the identification of problem routes or hubs, while ensuring third party accountability
• proactive control over employers’ liability and business interruption exposures
• highly detailed reports can be generated quickly and presented in the case of regulatory control or litigation
• trend analysis can be set up on an automated, recurring basis to ensure anomalies or problem areas are identified and remedied quickly
• reduce total cost of risk through better governance and the development of improved loss prevention programmes
• improve negotiations in the marketplace by submitting more accurate history of losses

"RiskConsole has helped Heinz affiliates take ownership of the values for the properties they are responsible for. The values were not bad before in the aggregate, but they’re so much better now."
Jerry Fleckenstein, Manager of global insurance - HJ Heinz Company