How's Your Risk Management Strategy?

There’s no question that companies will come out of this recession leaner than they were going in, but the competitive advantage will go to those companies that used the economic slowdown to eliminate waste and reduce risk:

The outcomes of inadequate risk management span the gamut from financial losses to a loss of customer goodwill that may well threaten the long-term viability and survival of a firm. Today, with an increasingly unforgiving regulatory environment and legislation such as Sarbanes-Oxley that requires business technology systems to function without error, executives need to be concerned about risk management more than ever before. (Baseline Magazine, 5/5/2009)

Is your company doing everything it can to reduce waste and minimize risk in the distribution process? Is your competitor's?