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Spring Journal

Volume 31, Issue 1

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Wednesday, 29 November 2017 16:18

Business Continuity and Suppliers – Take Nothing at Face Value

“Yes, we have a business continuity plan”. Every enterprise wants to hear this from its suppliers, especially the key suppliers.

If it is diligent in making its own BC plan, a company will check that other companies on which it depends have also taken precautions.

Unfortunately, that is often where the investigation stops.

It almost seems like companies are so relieved that they can “tick the box” for BC planning for their suppliers that they forget to find out whether the suppliers’ plans are either effective or relevant.

How much can such laxity cost companies? In one case, about US $1.7 billion.