BUSINESS CONTINUITY PLANNING HELPS COMPANIES STAY PREPARED FOR SUPPLY CHAIN RISKS AND OTHER HAZARDS

Regardless of the industry, all companies are exposed to risks which have the potential to disrupt critical operations, creating catastrophic results. According to Allianz’s 2015 Global Claims Review, the impacts of Business Interruption (BI) have been ranked as the top risk faced by global businesses, and the consequences of such disruptions can be seen in industries and facilities around the world. Some of the top causes of BI include fire and explosion, storms and natural disasters, machinery breakdown, human operating error, and most recently - pandemics.

A PROACTIVE ENTERPRISE RISK MANAGEMENT PLAN

Identifying business interruption risk, quantifying the potential impact to your company, developing mitigation strategies, and preplanning for a disaster are the keys to risk management. These tasks are generally referred to as Business Impact Analysis (BIA) and Business Continuity Planning (BCP). By implementing a comprehensive Enterprise Risk Management (ERM) plan which incorporates BCP will keep your company prepared for potential risks.

BUSINESS CONTINUITY PLANNING AND SUPPLY CHAIN SOLUTIONS CAN KEEP YOU PREPARED

Risk managers are faced with the daunting task of keeping abreast of their company’s Interdependent Business Interruption (IBI) and Contingent Business Interruption risks (CBI). But the need is greater than ever when you consider the following factors:

• Regulations and standards such as ISO 22301, ISO 31000, NFPA 1600, and Sarbanes – Oxley hold officers accountable and compliant
• In increase of natural and man-made disasters and business interruption
• Increased insurer focus on BCP/supply chain loss potential

To help you build business resilience, meet regulatory compliance, and build the proper insurance program, TÜV SÜD Global Risk Consultants (GRC) offers comprehensive BCP and supply chain services:

• Supply Chain Studies
• Interdependency Studies
• Business Interruption MFL Studies
• Business Continuity Risk Assessment
• Business Impact Analysis (BIA)
• Business Continuity Planning (BCP)
• Emergency Response Planning (ERP)
• Table Top Exercises

OUR EXPERTS CAN HELP YOU AVOID BUSINESS INTERRUPTION AND SUPPLY CHAIN RISKS

TÜV SÜD GRC will act as your trusted advisor for all of your needs. Our experts will use our knowledge of your company, industry, equipment, production bottlenecks, and exposures as the key components of the BCP process. Benefits to our clients include:

• Manufacturing Expertise: Many BCP consultants focus on finance and information technology while leaving production and supply chain vulnerable. We know industry and processes, and we leverage that knowledge for your benefit.
• Customer Insight: We know our clients because we go to your sites.
• Risk Management Expertise: Business Interruption, Interdependency, Contingent BI; we live these enterprise risk management issues every day.
• Supplier Audit Services: Comprehensive supply chain audit services which provide a comprehensive tool for business risks and supply chain management
• Independence: You own the information, not a third party or insurer.

Have a question or need immediate assistance? Get in touch!

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CLIENT TOOLS

• GRC Connect
• Impairment/Hot Work Permit