The interconnected nature of modern companies means that the operational resilience of your suppliers can, and often has a disproportionate impact on commercial operations. Example: 61% of companies have experienced third -party data or cybersecurity incident in the past year.
Take it Microsoft GlobalFor example. Windows users have not been able to access various applications and services, leading to important disruptions in business processes in all industries, airport terminals at shopping centers in banks around the world.
Small suppliers may not have the wide impact of a Microsoft failure, but that does not mean that their organizational resilience or their absence will not have an impact on your business.
In the end, understanding the continuity plans of your suppliers’ activities and their ability to quickly recover from a disaster can have a major impact on your own commercial results and your reputation.
That’s why It is essential to regularly revise the examination of the continuity plans for your supplier’s activities. And to help, we break down the key red flags which could point out a weak or ineffective plan. These warning panels will help you identify the risks early and protect your business.