Businesses have put in place managerial and health measures to facilitate business continuity as they begin to open up amid the COVID-19 pandemic. The health measures put in place include setting up disinfecting stations, encouraging social distancing between employees, and having people work from home.
Technology has come in handy in this fight against the virus through thermal cameras and non-contact infrared forehead thermometers. Below are some procedures that businesses have adopted to survive during this period.
Supply Chain Evaluation
A clear understanding of the supply chain could help spot potential vulnerabilities. These vulnerabilities may include complications in the supply of raw materials to kick off production. Do you need to have a supplier from more than one country? Do you need to look for a supplier within your country or region? For example, when many countries closed off their borders, businesses that import raw materials for production came to a stop. Companies have now realized the importance of constant evaluation of the supply chain.
Identifying Potential Points of Failure
A business needs to be able to function as an entity to survive a possible crisis. If there are gaps that reduce the business’s efficiency during such times, it may dearly cost a business. Thus, a business needs to constantly check their potential points of failure and solve them immediately. An example would be remote working or spread out shifts to reduce employee contact.
Use of Scenario Analysis
Businesses need to analyze potential scenarios that a pandemic could present. Scenarios are constantly changing as businesses try to stay afloat. Each business has a different scenario presented by COVID-19. Some organizations have increased demand due to people staying at home. The question, however, becomes, are they able to cope with the sudden increased demand? A business can use scenario analysis and subject their employees to the constant revisions which enable them to handle and implement crucial adjustments.
Revisit Your Crisis and Continuity Plans
Every successful business has a crisis or continuity plan, and many have a specific pandemic plan. The crisis and continuity plans in place may not cut across all crises your business faces could face. Therefore, your business can put in place procedures to revise and update your counter crisis protocols and ensure you give your stakeholders solutions that work.
For a business to thrive, it must be able to adapt and do so fast. COVID-19 has revealed cracks in many companies in matters of adaptability. This has presented an opportunity for businesses to change their operational approach and ensure sustainability.