Risk Management in a Logistics Company

Abstract

The current paper presents the risk management process applied to a Romanian logistics company, one of the most prominent Romanian railway operators. The company was presented, then ten main risks were identified and described. The risks were assessed based on the risk index and risk matrix methods. Their probability of occurrence and their impact were assessed, thus computing the risk index. The generic risk management strategies were generated after plotting the identified risks on the risk matrix. Following the risk analysis, more specific mitigating solutions were advanced, aiming at eliminating the critical risks and attenuating and treating the most tolerable ones. The authors discussed the results and presented relevant conclusions for the analysis. This risk management process can be applied to virtually any logistics company, irrespective of its area of operations.