Due to increased outsourcing, offshoring, product variety, lean manufacturing, and supply chain security, the risks in the supply chain are critical. Additionally, the extensive interdependence of the global supply chains puts societies and organizations at greater risk of system failure. Resilience is the primary concern of every supplier as a result of these facts.
Business Continuity Management (BCM) is a holistic management process that identifies potential impacts that pose a threat to an organization, provides a framework for building resilience, and provides the capability for an effective response that safeguards the interests of the organization's key stakeholders, reputation, brand, and activities that generate value.
BCM is a relatively new discipline within the business world; however, there is a possibility that aspects of BCM have always existed in organizations under various names. The reputation, supply chain, information and communication, sites and facilities, people, finances, and customers are the seven areas in which an organization's business and operating model can be vulnerable.
The BCM approach is designed to provide a framework for comprehending how an organization creates and maintains value and to establish a direct connection between dependencies or vulnerabilities in the delivery of that value. This approach is conducted in a holistic and cross-functional manner.
A successful BCM implementation would increase an organization’s resilience, where it is defined as the ability to absorb, respond and recover from disruptions. In the end, this will help the organization perform better.
The resources of an organization and the continuity of its operations are essential to its sustainability. The need for organizations to design and implement BCM mechanisms stems from certain occurrences that have the potential to have a negative impact on the organization and result in a crisis. In order to keep the business running and lessen the impact of disruptions, organizations need to be able to plan for and respond to events that could affect their operations.
Join us on 30th - 31st may, 2023 for the Supply Chain Risk and Resilience Forum, in Berlin, Germany so you don't feel left out in the industry!
To register or learn more about the Forum please check here: https://bit.ly/3DsfWE4
For more information and group participation, contact us: [email protected]
