What are the best practices for monitoring and reporting transportation risk management performance?

1 Define your objectives and indicators

The first step in monitoring and reporting transportation risk management performance is to define your objectives and indicators. Your objectives are the specific goals that you want to achieve through your risk management activities, such as reducing costs, improving service quality, enhancing customer satisfaction, or complying with regulations. Your indicators are the measurable and verifiable data that show how well you are achieving your objectives, such as the number of incidents, the amount of damages, the delivery time, or the customer feedback. You should align your objectives and indicators with your organizational strategy, your customer expectations, and your industry standards. You should also ensure that your indicators are SMART: specific, measurable, achievable, relevant, and time-bound.

2 Collect and analyze data

The second step in monitoring and reporting transportation risk management performance is to collect and analyze data. You need to gather reliable and accurate data from various sources, such as your transport management system, your carriers, your customers, your suppliers, or your external auditors. You should use appropriate methods and tools to collect and store your data, such as surveys, sensors, trackers, databases, or dashboards. You should also use appropriate techniques and tools to analyze your data, such as descriptive statistics, trend analysis, root cause analysis, or benchmarking. You should aim to identify the patterns, causes, effects, and opportunities related to your transportation risk management performance.

3 Report and communicate results

The third step in monitoring and reporting transportation risk management performance is to report and communicate results. You need to present and share your findings and recommendations with your internal and external stakeholders, such as your management, your employees, your customers, your suppliers, or your regulators. You should use appropriate formats and channels to report and communicate your results, such as reports, presentations, newsletters, emails, or meetings. You should also use appropriate language and visuals to report and communicate your results, such as clear and concise wording, graphs, charts, or tables. You should aim to inform, persuade, and engage your stakeholders with your transportation risk management performance.

4 Review and improve processes

The fourth step in monitoring and reporting transportation risk management performance is to review and improve processes. You need to evaluate and feedback on your monitoring and reporting processes, as well as your risk management processes, to ensure that they are effective, efficient, and consistent. You should use appropriate methods and tools to review and improve your processes, such as audits, reviews, feedback loops, or continuous improvement cycles. You should also use appropriate criteria and standards to review and improve your processes, such as quality, cost, time, or customer satisfaction. You should aim to learn from your successes and failures, and to implement changes and improvements based on your findings and recommendations.

5 Foster a risk management culture

The fifth step in monitoring and reporting transportation risk management performance is to foster a risk management culture. You need to create and maintain a positive and proactive attitude and behavior towards transportation risk management among your organization and your partners. You should use appropriate strategies and actions to foster a risk management culture, such as leadership, training, recognition, incentives, or collaboration. You should also use appropriate values and principles to foster a risk management culture, such as transparency, accountability, responsibility, or innovation. You should aim to embed transportation risk management as a core competency and a competitive advantage for your organization and your partners.

6 Monitor and report continuously

The sixth and final step in monitoring and reporting transportation risk management performance is to monitor and report continuously. You need to keep track of and update your objectives, indicators, data, results, and processes on a regular and consistent basis, to ensure that they reflect the current and changing realities of your transportation environment. You should use appropriate frequency and timing to monitor and report continuously, such as daily, weekly, monthly, quarterly, or annually. You should also use appropriate feedback and adjustment mechanisms to monitor and report continuously, such as alerts, notifications, reports, or reviews. You should aim to maintain and enhance your transportation risk management performance over time and across situations.

7 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?