Risks Within The Transportation Sector in a Company

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Risks Within The Transportation Sector in a Company During the transportation of products from one place to the other, there are disruptions which can potentially occur along the way. It is, however, impossible to discover all types of risks that can occur concerning the transportation of products (Coyle et al., 2011). The Company type and its location among many other things are the ones who are responsible for impacting the risk categories that they may face. From the six common risks which are normally associated with transportation within a Company, this article is going to discuss two of them which are product loss and product contamination and damage. Product loss It encompasses all activities such as theft and mismanagement of products, which make the goods not to reach their intended destination (Waters, 2011). There are several losses which are linked to the product loss apart from the actual cost which comes alongside the lost goods; such indirect losses include, spoiled brand value, interference with the customer service, and the necessity of administrating a new shipment so that it can replace the stolen shipment. The indirect charge associated with product loss can be five times greater than the cost associated with the direct product loss. There are some ways through which the risk of product loss during transportation can be minimized; these includes improving the use of GPS to monitor and track down a stolen vehicle and secondly, improvement of the depot security. Product contamination and damage When handling goods, there is a high risk that those goods could be damaged, this will then translate to the loss of value by these goods. When goods lose value,

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