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Jun 2, 2020

Welcome to RIMScast. Your host is Justin Smulison, Business Content Manager at RIMS, the Risk and Insurance Management Society.


COVID-19 is impacting the global supply chain and is undoubtedly on the minds of the global risk management community. And there is no better expert to talk about supply chain risk management than Thomas Cook.


Thomas Cook is the Managing Director of Blue Tiger International, a management, consulting, and training company. Recently, on May 13th, 2020, he led a webinar presentation that really struck a chord with the audience, titled, “Mitigating the Impact & Disruption to the Global Supply Chain: COVID-19,” which is linked below.


In today’s conversation, Justin and Tom are continuing the dialogue that Tom started in his webinar and discussing how the current pandemic has changed supply chain risk management. Tom shares his insights on the most important aspects that risk managers need to be looking at, challenges he is seeing in supply chain risk management, which industries he believes are at a greater risk of business disruption due to the coronavirus, and much more.


Key Takeaways:

[:00] About the RIMS Membership.

[:50] About today’s episode and guest, Tom Cook!

[1:00] About upcoming RIMS webinars!

[1:32] About the RIMS Coronavirus Information Center.

[1:45] More about today’s guest and episode.

[2:19] Justin welcomes Tom Cook to RIMScast!

[2:26] How has the pandemic changed supply chain risk management for both the long-term and the short-term?

[3:57] Tom highlights some of the most important aspects that risk managers now need to be looking at. He also highlights some areas, historically, that should be looked at, that need to be a top priority.

[5:00] Does Tom feel that there are new practices or innovations that companies will be implementing, going forward, or as they enter their recovery phases?

[6:09] Does Tom like blockchain as a measure to protect data?

[6:42] Tom shares which industries he believes are at a greater risk of business disruption due to the coronavirus. He also addresses whether or not the summer months will have an impact on this disruption.

[8:17] Tom gives his thoughts on where he feels product shipment delays should be on a company’s risk register.

[9:58] Has anything in China’s official activities changed between Tom’s May 13th webinar and the current recording date of this podcast (May 22nd)? And is it impacting supply chains?

[12:34] How would Tom advise risk managers to reassess certain geographic regions?

[13:58] How does reputation factor into the entire pandemic situation? Are the rules or perceptions now different, against the backdrop of COVID-19?

[16:16] Does Tom think that air freight will increase, given that many of the airlines are parking their aircraft now?

[18:14] Tom highlights some of the other challenges he is seeing in supply chain risk management.

[20:06] Tom speaks about the insurances that companies and risk managers should consider, relative to this pandemic.

[22:36] Justin reminds listeners to check out Tom’s recent webinar and shares how to get directly in touch with him.

[23:02] Justin thanks Thomas Cook for joining RIMScast and highlights some of the important links to check out in today’s show notes.


Mentioned in this Episode:

RIMS Webinar — On-Demand: “Mitigating the Impact & Disruption to the Global Supply Chain: COVID-19,” presented by Tom Cook on May 13th, 2020

RIMS-Bermuda 2020 Webinar Series (June 3rd - July 1st) Register Today

RIMS Advocacy Webinar Series (June 11th - July 2nd) Register Today

Upcoming RIMS Webinars

RIMS Advisory Services — Ask a Peer

RIMS Coronavirus Information Center

RIMS Advocacy: Coronavirus Advocacy Information

RM Magazine May 2020 Article: “Supply Chain Under Strain”

RM Magazine

Risk Management Monitor

RIMS-Certified Risk Management Professional (RIMS-CRMP)

New Feature: RIMS-CRMP Stories

RIMS Membership — Discover why 10,000 of your peers from more than 60 countries are a part of the RIMS community!

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Follow up with Our Guest:

Thomas Cook’s LinkedIn

Blue Tiger International