The COVID-19 outbreak caused business leaders and owners to make short-term decisions to ensure the continuity of their operations; however, these measures had to be modified due to the extension of the quarantine.
Given such significant contingencies, it is crucial that organizations identify the areas of the business that could be most affected, and from there develop an effective business continuity plan that helps maintain normal operations in three key areas:
- Supply chain
- Business operation
- Financial and external factors
La first stage This involves having a business continuity plan that allows for an understanding of the main risks in operations and the supply chain. Based on this understanding, it will be possible to allocate sufficient teams to address the crisis and then focus on supply chain assessment and risk management.
Just like second stageIt is essential to determine whether managers and their corporate governance could make key decisions with the necessary speed, planning financial and business scenarios that range from a quick recovery from this situation to a slowdown in growth or a possible global recession.
In the short term, risk mitigation measures should be implemented in operations and the supply chain, assessing the impact on transportation. In this regard, organizations must ensure they maintain communication with their customers and key stakeholders, review and evaluate the impact of talent planning and management, and consider potential impacts that may arise depending on the sector in which they operate.
Finally, in a third stage It will be necessary to continue building an agile global supply chain with full visibility of all its links, as well as understanding and implementing digital and process automation to mitigate the consequences of possible disruptions that, as we have seen, can affect companies due to external factors, developing and implementing enhanced risk management practices.
Within GDI We had to adapt and create strategies to continue with our work and the production of garments.
We implemented improved strategies and communication with our clients and suppliers to establish accurate raw material receiving times and realistic delivery times. We always considered the current situation and daily changes to avoid jeopardizing operations and experiencing a decline.
En GDI We are still seeking better strategies to this day, so that we can know what actions to implement in future situations.