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Supplier bankruptcy, trade disputes, political instability, pandemics, natural disasters and cyber-attacks are all seen to be key factors in supply chain disruption. Added to this the constant environmental issues and suppliers collapses it is clear that supply chain vulnerability has rarely been seen as such a threat.
Prior to the pandemic, it was commonplace for organizations to operate their risk and resiliency programs out of spreadsheets, documents, and even post-its – if they had a program at all. . To compound the challenge, as a result of the pandemic and its cascading impacts, the pa ce of digitization has hastened tenfold by some estimates.
The year 2022 saw the tapering off of the pandemic, the invasion of Ukraine by Russia, an ongoing wave of cyberattacks, continuing supply chain woes, and a renewed focus by organizations on identifying and protecting their most essential business processes. Read on to learn about the BCM year in review. A new focus on efficiency.
Has the coronavirus pandemic altered the way you approach these for business? This is one of the many positive changes for resiliency post-pandemic for many organizations. “I If you were asked to define these words, what do they mean to you? Moving Beyond Traditions.
I would say the biggest lesson of the last few years has been that we need to be agile to respond to so-called unexpected events, be it a viral pandemic, global lockdowns, energy shortages, wars, or natural disasters. Could you share some experiences and lessons learned?
This involves tracking your company’s technological resources, making sure their vulnerabilities are under control and creating policies and procedures that are compliant with today’s evolving regulations. The most timely demonstration of risk management’s ROI is Wimbledon’s pandemic insurance plan. Risk Management Step #2: Assess.
As these directives take effect, businesses will be made to share with their partners and suppliers early identifications of system vulnerabilities or face fines. And the urgency we all became so used to during the pandemic meant there was no time to wait for the supply chain to right itself, so CIOs turned to the cloud.
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