The Importance of Business Continuity Management
by Admin Kripaa | 1 min read
Mature businesses around the world have a continuity plan – a systematic list of processes that help restore business quickly when there is disruption in the production line. Some of the businesses have the capacity to switch production to other locations and the employees are well aware of the contingency plans.
Business continuity management usually includes the in-house production line and business processes. With more and more processes getting outsourced to external vendors and suppliers, it is really important to involve suppliers in the business continuity management plan.
The earthquake and tsunami disaster in Japan during early 2011 has clearly shown how far the ripple effect could affect the supply chain. Major corporations producing automobiles, electronic gadgets and mobile handsets were widely affected due to disruption in supply of spare parts from Japanese vendors. The common problem with all these corporations is the exclusion of suppliers and vendors from their business continuity plan.