Very few businesses exist in isolation. As a business owner, once you have any transfer of goods, you are part of a supply chain – either on the receiving end, generating the stock at the start, someplace in the middle, or a combination of those. It means you could be vulnerable if anything disturbs that supply chain anywhere along the line, so you need to ensure you have adequate coverage under your commercial insurance Dallas policies.
Obvious things like equipment breakdown can disturb the flow of production, either your own or that of your suppliers. However, there are all sorts of other events that might impede normal productivity levels, disrupting a supply chain and having huge implications for many businesses that are connected in some way. Locally, it could be things like storms, electrical outages, industrial action and/or insolvency. When these things happen, your business may be able to source goods or parts from overseas companies, in which case you may have to consider delays with customs processing, shipping issues at any part of the journey, political unrest in the country of origin, on top of the local disruptions. In addition, through all this you still need to be able to honor your ongoing financial commitments.
As well as planning out how to handle supply chain issues, you may also need to consider your commercial insurance Dallas coverage options to help you to financially get through situations such as this. Contact us for more information about insurance to help you get through the difficult times.