Major risks and disruptions closer to home
A survey ran across many European companies identified risks and challenges across their supply chain networks. These include shortages to raw materials and the consequent increase in prices with a long term impact, personnel mobility limitations, inflation, logistics delays and an overall lack of preparedness for disruptions.
European economies are largely dependent on imports of energy commodities, fertilizers, iron and other metals. Companies involved in the manufacturing industry, mainly in the food industry, logistics and agriculture which deal with Russia directly are more sensitive to sanctions and shortages to supplies.
Visionary leaders use Business Continuity Planning to make their organizations flourish
Resilient companies use disruption as a launching pad for growth and innovation while introducing new ways of working. Innovative leaders have a cautious vison of how extensive business continuity planning could do to protect their key operations.
It’s imperative to ask the right questions about the systems, tools and plans that are required to continue operating and meet market demands. Key insights into historical data and emerging trends assist in rapid detection, response and recovery from disruptions. Leadership decision making should support in designing the resilient supply chain.
Recovery after a disruption requires a structured and well communicated process ideally mapped in advance. Key attributes in a business continuity plan are guided by the ISO 22318 technical specification. In order to achieve a robust plan, what exactly should be included?