3 Steps To Mitigating Supply Chain Risk

Innovative Retail Technologies caught up with Dave Zamsky, Vice President, Marketing, UPS Capital to garner his insight on mitigating supply chain risk. Here’s what he had to share. 

IRT: What are the retail trends you’re seeing around high-value goods shipping?

Zamsky: We are seeing more and more goods sold online.  Luxury e-commerce is exploding. According to Technavio’s Global Luxury E-tailing Market Report 2015-2019, global sales in the luxury e-commerce market are expected to reach $42 billion in just the next three years, a 100 percent increase over the $21 billion high of 2014. It’s a market opportunity that can’t — and shouldn’t — be ignored.

IRT: What are the things that keep executives up at night when thinking about their supply chains and shipping high-value goods?

Zamsky: Regardless of the goods being shipped, theft, fraud, and loss are always top concerns. However, when you’re shipping high-value items such as jewelry or watches, those concerns can really interrupt executives’ sleep patterns. To that end, it is vital that executives educate themselves on how damaging a loss can be to their companies and how having a layered approach — multiple levels of security — to risk mitigation can protect your product, your reputation, and, ultimately, your company.