PCB007 Magazine

PCB007-May2021

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38 PCB007 MAGAZINE I MAY 2021 ed workloads to others that have seen order books evaporate. Whatever the scenario your business is fac- ing, it is clear we will face tough times for the next few months. What you do now will dic- tate how well you come out on the other side. You should be thinking about contingency plans to alleviate any potential impacts to your business. Business continuity planning is the framework that can help you get through to the other side. A business continuity plan is designed to an- ticipate and plan for the key risks that may face your business in the coming months. By act- ing quickly and decisively, you maximise the chances of your business surviving. What Are the Risks? When thinking about your business continu- ity plans you should analyse any potential risks that may have adverse effects on your business. Depending on the industry you are in, these will differ, and you will need to create plans to mitigate these risks quickly and decisively. Some of the major risks you need to consid- er are: • Customer Risk: Changes in the nature and behaviour of your customer base. is could include mass cancellation of orders, payment issues, and project delays, but can equally include the need to cope with a rapid ramp-up in output or pivoting to a completely new product range. • Employee Risks: e risk of infection with COVID-19 is the most obvious one to manage and minimise, but there are other risks, such as general absenteeism (many employees are feeling too stressed to go to work); and the motivation, fam- ily, and mental impacts associated with working from home. • Supply Risks: Talking to manufactur- ers, I get the impression that the impact of the interruption of supply from China has been less than expected (probably be- cause the virus shutdown coincided with the Chinese New Year shut down any- way). However, what if your supplier can no longer stay in business? What happens if they have an infection in their business? What are your alternatives? Figure 1: Identify all your risks before deciding on what action to take.

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