March 6, 2020
The coronavirus has caused a significant disruption to companies’ operations, testing their business continuity and disaster preparedness plans. Many firms have done little to prepare for an event such as the coronavirus and are experiencing significant negative impacts. With the complete stoppage of transport of goods at critical airport and seaport hubs, the world’s distribution network is in disarray.
In light of this disruption, now is a good time for companies to assess their supply chain resilience to mitigate such events in the future. A rapid business impact assessment will examine major risk areas in terms of workforce, critical processes and systems, as well as review current inventory levels and safety stock to limit operational interruption if a period of quarantine occurs in your area.
A well-developed business continuity and disaster recovery plan can provide the critical support required to maintain operations and assist employees during and after the event.
Mazars’ organizational resilience and supply chain consulting services can help your organization assess its current state and create a robust business continuity and disaster recovery plan. Our experienced experts are committed to providing effective, lasting solutions.