Planets Pride A/S is global seafood trading company offering sustainable frozen seafood products to European foodservice suppliers and retailers. With the company growing the management team found it prudent to take a deeper look into the operational risks of the company to enable them to take the necessary precautionary measures to reduce their risk exposure, as well as being able to provide their external collaboration partners like banks, insurance and naturally customers confidence in their business.
For the risk assessment Calm Water Crisis Consulting (CWCC) facilitated a workshop with the management team aiming at defining a risk matrix for the company. The workshop followed CWCC’s 4-step assessment process where we started with a deep dive into the critical functions. Here, items like named key salespeople, specific suppliers and their warehouse was identified as critical for the company. With the critical functions identified we moved into a discussion around threats towards these critical functions, going through a larger number of potential threats from CWCC’s threat catalogue. The identified threats were mapped to the identified critical functions and a likelihood for the threat to happen applied.
Having identified the critical functions and the threats we could dive into the consequences to the company if the threats materialized. This part of the workshop created some interesting worst case scenarios as well as some more likely scenarios. After having evaluated consequences of all the scenarios a score of severity was applied to each scenario. As part of the process, ideas for potential preventive actions also surfaced.
Now having the threat scenarios and the consequences of each we could create the risk matrix specific for Planets Pride A/S. The risk matrix provided a clear overview of the operational risks for the company and where actions could be taken to reduce risks.
Following the workshop CWCC delivered a full report with the findings from the workshop and a list of recommended preventive actions to either reduce the likelihood of the identified scenarios happening or to reduce the impact should the scenarios happen.
Planets Pride A/S – Facts
- Trading company of frozen seafood
- Sells 10,000+ ton of frozen seafood annually
- Customers all over Europe
- Key is:
- Headquarter in Slagelse, Denmark
- Representatives in Poland, Bulgaria and Vietnam