Navigating Risk in the Retail Industry: A Multifaceted Challenge

Retailers are constantly navigating treacherous waters, from rapidly changing consumer expectations and advancing technology to the persistent challenge of supply chain disruptions and lost or damaged goods in transit to the increasing cost of inventory shrink. Keeping their businesses safe, resilient, and sustainable is at the core of many retail organizations, and managing supply chain risk is a big part of achieving those goals.

As a specialty broker, ECIB has developed the systems, the resources, and the assets required to manage complex global cargo insurance and claims management programs for retail organizations across all spectrums. From online retailers to traditional brick-and-mortar storefronts, businesses trust our experts to ensure their goods are properly protected from risks across the global supply chain. ECIB leverages the logistics expertise in our global network and long-standing carrier relationships with innovative technology for effective risk mitigation. Our web-based claims management application is designed specifically to streamline the management of cargo claims and is paired with our cutting-edge mobile app for today’s dynamic supply chain. These tools allow our clients to easily extract actionable claims analytics that empower them to lower the cost of supply chain risk.

ECIB's Key Values for Retail Partners:

• Data You Can Understand: Visibility that enables quick identification of the point in the supply chain damages or losses are occurring and to make changes to ensure that fulfillment and storefront operations go smoothly.
• Tailored Approach: Cargo policies built with your specific retail supply chain needs in mind.
• Comprehensive Coverage: No matter the mode or carrier, we can provide coverage for your goods from the point of production to the storefront, as well as provide unparalleled service when claims or other issues arise.
• Cost & Resilience: Risk management techniques designed to help ensure the competitive advantage and longevity of an organization.
• Trade Shows & Exhibitions: Distinctive coverage limits that match special requirements for new product introductions or special events.
• Specialized Coverage: Help offset the impact of a potential disruption to ensure the continued resilience of your business.

The retail industry faces many risks that demand constant vigilance and proactive measures. Retailers must employ a comprehensive risk management approach, from selecting the right carriers to handle their products in transit, to planning for unexpected events in the supply chain that could impact the bottom line. ECIB helps our retail clients proactively and effectively offset supply chain risks through a variety of risk and insurance techniques, giving them the ability to drive their businesses forward with peace of mind. Reach out today to learn more about our unique approach to supply chain risk management.