Is there a chance businesses can seize upon a slowdown and look inside, even for a quick evaluation at how well the business has been running up to now and more importantly, once the economy picks up again? It’s a great time to reflect and ask - do we continue business as usual because that has been working? Or is this a chance to implement a new system to improve effectiveness and operational efficiency (Colorado, looking in your general direction for Recalls and CAPA programs) or a new MRP/ERP or QMS to be forward thinking, providing a tool to track and trend and manage your business? Maybe now is the time to work to seek a third-party certification to differentiate yourself from the rest of the market.
When asking these questions, the answer inevitably involves which investment may make for a great rate of return? We suggest you review your business continuity plan, section by section, as deep as you can. Consider a third party review for a deeper challenge of those “you don’t know what you don’t know got- cha’s.”
At the very least the Plan creates an outline of how and who helps run your business. It provides contact and contract information or where to find it, at your fingertips; emergency information; financial, banking, insurance information; internal procedures how and who does what. The goal is to be up and running as quickly as possible after an event, how to get a business up and running, step by step, in full communications with employees, vendors and customers.
If you don’t have a Business Continuity Plan in place, now is the time to contract a company that has knowledge, experience and resources to quickly implement one or at least assist you with developing one. It could just mean the difference between sinking or swimming the next time a distortion comes to the industry.