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Business Continuity Institute

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Promoting the art and science of BCM Worldwide

The Business Continuity Institute (BCI) was established in 1994 to enable individual members to obtain guidance and support from fellow business continuity practitioners. The BCI currently has over 7,000 members in more than 100 countries.

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BCI webinar: A critical need for supply chain resilience John DiMaria AMBCI (ISO Product Manager for BSI Americas) In today’s economy, companies need to be highly focused on managing costs. Strategies involving far-flung suppliers with single-source, just-in-time contracts and outsourced manufacturing and assembly agreements are aimed at reducing costs and boosting the bottom line. This type of procurement strategy may increase profit margins, but it also significantly raises the risk and potential impact of an unexpected disruption in the supply chain. This is particularly true when little is known about key and critical suppliers and their business continuity plans.

The most recent port slowdown in the US had global ramifications. Eight months of failed labor talks with longshore workers have brought West Coast port congestion to a breaking point.

It is no wonder that the results from the most recent BCI/BSI Horizon Scan report showed that Supply chain disruption has risen by 11 places from 16th last year. As a global economy with so many interrelated processes, it is imperative that we evaluate and address third party risk with the utmost urgency in order to find a way to mitigate and manage them.

Approaches to addressing risk can vary greatly with what types of risk are considered acceptable along with the methods chosen to mitigate and minimize potential impacts. Assessing critical suppliers as well as those downstream Tier 2 and Tier 3 providers is a critical part of doing business in a globalized marketplace. Objective evidence of compliance, such as certification to international business continuity standards like ISO 22301, as well as updating supplier information on a regular basis is quickly becoming part of the initial screening process for choosing suppliers and maintaining a level of confidence and transparency.

Join us as we discuss best practice business solutions.
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Apr 28 2015 2:00 pm
UTC
60 mins
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