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Major Earthquake Strikes Nevada – Spares Reno This Time

THE VALUE OF EVENT MONITORING

A 6.5 magnitude earthquake struck the Reno, Nevada area at 5:30 am on the 15th of May 2020. Have you checked your supply chain? Is this event relevant to your business and could it impact profitability? For example, do you rely on a major drug wholesaler whose warehouse and transportation networks are in the area? At approximately $2-5 an hour, is event monitoring software worth the cost? Are you able to detect a potential disruption in near real-time? Do you know how and where it will impact your supply chain? Are you able to quantify the potential impact to customers in near real-time? Are you ready to capture the UNCERTAINTY ADVANTAGE? How does the earthquake in Nevada (or an infinite number of events) affect fill rates, supply chain, product, and material inventory?  

There are more than a dozen supply chain event monitoring products in the market #resilinc#riskmethods), all can be implemented in days by you, the supplier, or by a 3rd party such as The Risk Project. Worth the investment?

UPDATE 18 May 2020: It appears Reno and the surrounding businesses dodged a bullet. Click here to see what might happen if a quake struck Reno.

By Gary S Lynch

I am the Founder and CEO of The Risk Project, LLC a risk, uncertainty and opportunity advisory firm. As a management consultant, business developer and market analyst at Booz Allen Hamilton, Gartner Group and Marsh, I was responsible for defining market strategy, commericalizing capabilities, and developing businesses. I've helped dozens of organizations create new revenue streams. I've also held the position of Risk Executive, CISO and Global Leader - Office of Business Continuity at JPMorganChase, Prudential and Prudential Securities.

Throughout my career I worked with senior leadership from startups, academia and government agencies to life sciences, hi-tech and financial institutions. I was a founding member of the US Dept of Commerce's Advisory Committee on Supply Chain Competitiveness, Advisor to the WEF Global Risk Network and Sr. Research Fellow at the RH Smith School of Business, University of Maryland.

I've authored three business risk books and been a featured at the WEF, APEC, WCO, NIST, NACD, AIAG, RIMS, MIT CTL, Robert H. Smith School and the Desautels School of Management/McGill University.

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