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Identify, Understand and Manage Risks with FACTOR’s Expertise and Customized Methodologies

A management system built on a foundation of regulatory compliance and expanded with risk-based principles is essential for sustainable, safe, and secure operations; prevention of significant incidents; positive public image and community relationships; and continued right to operate.

For many chemical manufacturers, a wide variety of raw materials, products, and intermediates may be manufactured, shipped, or received, with various degrees of hazard and risk.

The greatest risk exposure may be outside of the plant gates and in the transportation cycle, including in-transit storage and handling, where operations are out of their direct control.

Likewise, carriers and other logistics service providers, including warehouse and terminal operators, must understand and manage their risk exposure.

Advanced Risk Assessments

Sophisticated chemical shippers and transporters may utilize transportation risk assessments as part of their overall management system to understand the likelihood and potential consequences of moving hazardous materials, with the goal of applying risk mitigation options as warranted. Such analyses may also be needed for enterprise risk evaluations. FACTOR can conduct tailored transportation risk assessments using an array of tools, from qualitative to quantitative, as well as advanced route risk assessments to enable informed selection of modes, routes, and suppliers. Typical studies may compare various routes for an origin-destination combination of a single mode, or may compare various modes, containers, or other parameters. FACTOR can model distribution risks on a global scale with the ability to compare multiple modes of transportation, ports of entry, and alternate types of packaging in an affordable way.

Chemical Barrels

Why FACTOR?

FACTOR has highly experienced, specialized consultants on staff that are experts in transportation risk assessment, advising organizations on the development of supply chain risk management programs, and providing independent, objective risk assessments for meeting compliance and industry best practices.

With over 25 years of experience performing hazardous materials transportation risk modeling, FACTOR has conducted dozens of risk assessments for both the chemical and freight transportation industries.

 

ESSENTIAL EXPERTISE

FACTOR can assist in establishing a risk management program for your operations, including: 

 

Prioritization to identify and rank hazards and risks
Development of qualitative and quantitative risk evaluation techniques and criteria to further understand risk components and their contributions
Assessment of risk reduction alternatives, considering feasibility, suitability, and effectiveness
Establishment of a sustainable management system
Integration into your company’s Enterprise Risk Management System
Communication of risks and risk management measures to stakeholder groups

 

Key Contributors
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