Global Trade and Logistics: Risk Management and Business Continuity

This report analyzes the risk management strategies for a global trade and logistics company. It begins with an introduction to the company's operations, including its global reach and the various modes of transportation used. The core of the report focuses on risk assessment, identifying potential threats such as political instability, economic fluctuations, cyberattacks, and supply chain disruptions. Following the risk assessment, the report outlines a comprehensive risk mitigation plan, emphasizing the importance of proactive measures to minimize the impact of potential crises. It also addresses the necessity of business impact analysis (BIA), business continuity planning (BCP), disaster recovery planning (DRP), and the establishment of a computer incident rescue team (CIRT). The report also highlights the significance of legal compliance, including international laws and treaties that affect the company's operations. References to relevant academic sources are included to support the analysis and recommendations.

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Introduction
The Global Trading and Logistics organization mainly deals with supply chain
management and operation process.
Being a global company the organization must take into consideration a lot of legal
laws, transportation operations and international and intercontinental business operations.
The company completes all of its process in a well-mannered and seam less way. To
keep things as they are the organization need to be prepared any kind of risk it will face in the
future.
Global trade and logistics include packing, supply chain management, operations
management, materials handling, transportation management, inventory management,
distribution center management, warehousing, procurement, and systems controls. The
organization mentioned here transports goods globally via boat, train, plane and rail (Osorio et
al., 2017). The products include food, pharmaceuticals, and weapons. the company has offices
in over 200 countries. While the three major cities for the organization are Seattle, London
and Singapore.
Risk assessment
To ensure the proper continuity among the processes and operation that the global
trading and logistics organizations do, a proper risk assessment plan is vital.
The risk assessment plan will look for potential risks.
The plan will investigate and evaluate the nature, and the reason of the threat that the
organization can face in the future.
There can be various types of risk for a global trading and logistics organization, like
political risk, i.e. any country can change their present laws for trading, the organization

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needs to be prepared for them, there are other kind of threat to a global trading and logistics
organization, those are, economic, cyberattack, connectivity issue and supplier consistency
issue (Choi et al., 2016).
Risk Mitigation
Many organizations face failure because of not having a proper mitigation plan to
follow.
All the big and small organizations need to have a risk mitigation plan.
Being a global trading and logistics company, the organization conducts a lot of
operations everyday which may be was planned long ago.
Primarily, Risk Mitigation Plans do not help with totally avoiding a risk. Mitigation
addresses the impact of a catastrophe and the steps to minimize harmful and even long-term
consequences that may be implemented when an incident happens (Wu & Chaipiyaphan, 2019).
Many businesses struggled due to their insufficient mitigation strategy or because they
refused to stick to the mitigation strategies they had.
Supporting Analysis and planning and affecting Law
To support the risk management program an organization conducts a lot of analysis
and planning.
These plans and analysis includes, BIA – Business Impact Analysis, BCP- Business
Continuity Plan, DRP – Disaster Recovery Plan. And CIRT – Computer Incident Rescue
Team.
With all these an organization needs to consider global laws, furthermore, the
organization need to consider other laws and treaties that can affect the organization’s
processes and operations. If they do not, their work process and work force can be disrupted

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because of issues of the laws and treaties, furthermore, the risk mitigation plan should include
dealings with all the issues, Laws and treaties.

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References
Choi, T. M., Chiu, C. H., & Chan, H. K. (2016). Risk management of logistics systems.
Osorio, J. C., Manotas, D. F., & García, J. L. (2017). Operational Risk Assessment in 3PL for
Maritime Transportation. Research in Computing Science, 132, 63-69.
Wu, P. J., & Chaipiyaphan, P. (2019). Diagnosis of delivery vulnerability in a logistics
system for logistics risk management. The International Journal of Logistics
Management.