Operational resilience refers to the ability of an organisation to continue operations through adverse events or changing business conditions. We’ve previously written about how building operational resilience should be on the agenda of every business. The global pandemic has only reinforced the same. Instituting operational resilience can result in the discovery of inefficiencies and weaknesses in normal operations.
Business operations at large organisations are complex, more vulnerable, and more threatened than ever. In the event of a surprise adverse event, an operational resilience plan can define and provide procedures for IT responses, supply chains, crisis management, as well as public relations and customer communications.
- Businesses need to be agile and undertake what-if scenario analysis with plans for best outcomes, worst outcomes, and the most likely outcomes.
- Incorporating risk and compliance activities into everyday processes, automation, using a common data source across the organisation, and continuously monitoring for incidents can help businesses optimise incident response to the point where many emergent events can be countered before they make any negative impact.
- A detailed continuity plan helps organisations reduce risks and recover quickly. The plan should be reviewed and approved by key decision makers and tested for effectiveness before implementation.
- The ability to adapt and take away key insights allows organisations to plan to better counter any disruptions. In the event of an emergency, businesses should be able to collect relevant data, review and analyse results, and communicate vital conclusions to your teams.
At Simplex, we help businesses build new levels of resiliency by revisiting their supply base and global asset footprint, digital transformation of operations, as well as transformation of business models to achieve cross-functional agility. Drop us a line, and we’ll help safeguard your operations and ensure business continuity at your organization.
Photo by Tom Wilson