Well prepared for business interruptions
Natural disasters, hacker attacks or failures in the supply chain – lots of things can cause interruptions to regular business operations and impact every company. This is especially true as competition becomes increasingly globally connected.
In today’s volatile and often incalculable environment, companies are like a living organism: they can adapt to market challenges and protect their value-adding chain through individual resilience. To do this, they need a strong immune system themselves, one that builds up their defences against external dangers and risks. Typical examples include building up reserve capacities in production, inventory or cooperation that extends beyond the supply chain, based on the level of risk they face.
Business continuity management (BCM) is an effective process that can be used to strengthen a company’s immune system. BCM is based on proactive planning, so that companies are prepared when a crisis occurs, and the value-adding process remains assured as far as possible even in the worst-case scenario. What is important here is not just to examine your own processes for risks, but also to look at risks in the supply chain. Supply chain management addresses this. Risks can be identified and protected against using different IT tools and analyses.
Articles about business interruption risks
BCM process phases
Funk supports companies across all project phases of business continuity management (BCM) as needed and facilitates the corresponding certification under applicable standards such as ISO 22301. BCM needs to be set up as a rolling life cycle for this purpose.Learn more
Clever protection of risks using supply chain management
Funk provides competent and personal support to companies from a wide range of industries in tackling specific supply chain risks and devising suitable measures for managing these risks, so that damage in business does not pose a threat to survival.Learn more
Funk SMART BI CHECK provides clarity
In a world of connected supply chains, business interruptions can result in significant financial damages. The management should therefore be aware of the worst case and obtain protection with a business interruption insurance based on needs.Learn more
Study on disruptions in the supply chain
Cooperative risk management can reduce the implications of supply chain disruptions, according to an ongoing study conducted by Jacobs University in Bremen with the support of the Funk Foundation. But very few companies have used this opportunity for cooperation in times of crisis.Learn more
Client case: when authorities stop production
An explosion in a Schill+Seilacher plant caused massive damage to property. The result was that business interruptions lasted for years. Funk managed to convince the insurer even on the first day of claims negotiations to allot an immediate payout of 6.5 million euros in order to finance initial courses of action.Learn more
Supply chain risks put to the test
Only efficient risk identification allows for targeted and effective risk prevention. Funk provides different services to support companies in the detailed analysis of the different risks in their supply chains, such as a balance sheet risk stress test and a supply chain quick check.Learn more