Supply chain risk management: protection against business interruption and its consequences
One of the greatest commercial risks for many manufacturers and retail companies in addition to market fluctuations is financial losses resulting from a business interruption. This might result from property damage within the company’s premises or disruptions in the supply chain. The consequences are loss of turnover alongside running operating costs, potential loss of customers and long-term damage to a company’s image.
Funk provides competent and individual methodological expertise to companies from a wide range of industries in tackling specific risks and deducing suitable measures for managing these risks, so that property damage in operation does not pose a threat to existence.
Business interruption analysis as a fundament for targeted crisis management
The Funk BI (business interruption) check gives the client a general overview of what perils and hazards may occur on specific site locations. Henceforth, our consultants calculate the financial consequences in the event of a certain claim. This information forms the basis for further action, particularly an in-depth analysis of internal and external dependencies within the production processes.
With this achieved transparency, companies can decide whether their business interruption cover fits to an integrative risk management strategy and to what extent cover maybe adopted. Alternatively, risks in the supply chain which are not related to property damage, such as transport route blockades, can be insured with an innovative ‘non-damage business interruption’ cover.
Information gained from a BI analysis can also be used to establish a business continuity management (BCM) system. In an emergency situation, the company-specific BCM provides support in choosing the right measures to reduce the disruption period due to an increased resilience. Funk experts work together with the client on disaster recovery based on a business continuity planning in order to ensure that the company is able to respond quickly to disruptive events.
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