Murphy’s Law is no joke – if it’s possible for something to go wrong, it is bound to go wrong at some time or other. Those who know this also know the value of risk management. No matter how reliable your forklift has been in the past, one day it will break down. It will break down a lot sooner if you don’t keep it on a strict maintenance schedule and if it’s getting old, it is going to break down sooner rather than later. Trying to save a few dollars by hanging on to an old forklift is like asking for disaster to strike.
How important is it that the parts you ordered from overseas arrive on the promised delivery date? Would it be catastrophic if they arrived late or not at all? If so, look into finding alternative sources for the parts and be sure you have enough in stock to see you through a crisis.
It is fascinating and educational to study the ways in which some companies manage risk so much better than others. Materials handling involves relying on a chain of supply. If you have only one chain to rely on or don’t have the strategic tools in place for quickly repairing broken links, apply some of the lessons they can teach you. There are times when you have to take risks in life, but you don’t want to make it a habit in business.