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Risk Management Trends and Observations for Semiconductor and Electronic Component Manufacturing

During 2012, the semiconductor industry managed some improvements in what turned out to be a challenging economic year.

In order to succeed and continue growing in 2013, the industry must get better at managing all its business challenges. This includes becoming more competitive with foreign firms, continuing to manage product obsolescence, finding alternatives to requirements for heavy capital investments and better managing the concentration of customer risk.

With outsourced manufacturing and collaboration in manufacturing, the semiconductor firms of 2013 will be more focused on insurance and risk management concerns surrounding supply chain and sole suppliers. In addition, reducing foreign currency risk and promoting favorable legislation and regulation will be of vital importance.

The firms that can take the flip side of “risk” and turn it into “opportunity” are those that can make the most of collaborative partnerships while developing new technology and products.

TechAssure members know that a successful insurance and risk management program addresses general business risks as well as risks associated with your industry and risks specific to your company.

Give a TechAssure member a call to find out more about our insurance products and risk management solutions.

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