BUHARIWALAS RISK MANAGEMENT STRATEGY
Buhariwalas International Relocations, a moving and logistics company, has a risk management programme to identify, assess and mitigate potential hazards associated with the moving process. A risk management program is essential for planned relocations as we as a company are not in direct control of all the stages of an international relocation.
Our risk management program involves strategies to prevent damage to goods, ensure employee safety, environmental safety and to protect the company from financial and legal liabilities.
Our Risk Management program consists of the following:
- Identifying Potential Risks
• Physical Damage : These are risks during packing, loading, transportation and unloading and unpacking, to our client’s household goods and personal effects.
• Accidents and Injuries : Risks to employees and customers during the moving process such as falls, strains or equipment related risks.
• Theft and Loss: Probability for theft or loss of items during the moving process.
• Financial Risks : Potential for financial loss due to damage claims, legal disputes or unexpected expenses for delays, weather or climatic factors etc.
• Operational Risks: Risks related to logistics, scheduling, and communications.
- Assessing and Prioritizing Risks
• Likelihood: How likely is each risk to occur.
• Impact: What would be the consequences if the risk occurred?
• Severity: A combination of likelihood and impact to determine the overall severity of the risk.
- Developing Risk Mitigation Strategies
• Training and Safety Programs:
Comprehensive training to the crew on packing techniques, safety procedures, training to customer service on how to handle client queries, manage the move and ensure that all goes smoothly and on time.
• Secure Loading and Transportation
Ensure that goods are loaded and properly secured in the truck/container to prevent shifting during transit and damage. Use close body trucks from reliable transporters only after doing the due diligence on their services.
• Insurance
Offer Insurance coverage to cover potential risks and damages during transit and storage.
• Background Checks:
Conducting background checks on employees to minimize risks of theft or misconduct. Doing due diligence on all our suppliers in the supply chain.
• Contingency Planning:
Developing plans to address unexpected situations such as vehicle break downs or delays.
- Monitoring And Evaluation
Regular Audits: Conducting regular audits to assess the effectiveness of the risk management program.
Incident Reporting and Analysis: Tracking and analysing any incidents to identify areas for improvement.
Feedback Mechanisms: Gathering feedback from customers and employees to identify potential risks and areas for improvement.
By implementing a robust risk management program, Buhariwalas can minimize potential losses, protect is reputation and provide a smoother and safer moving experience for its customers.
