In general terms Risk management is the identification, assessment, and prioritization of risks followed by coordinated and economical application of resources to minimize, monitor, and control the probability and/or impact of unfortunate events.
With regard to bitumen for instance our proposed concept of “Engineering Bitumen” with the help of products and processes is clearly a part risk management within the supply chain.
But in this section we are expressively referring to the mitigation of price risks related to the products bitumen, diesel and heating oil as they are affected by high volatility and therefore subject to substantial risk of price changes, that are driven by supply & demand and influenced by geopolitical factors.
A professional risk management allows long-term budgeting of price targets and profits and offers the chance to generate savings in volatile markets.
We do this for bitumen, fuel oil and diesel.