Ardent Partners hosted The CPO Rising 2K20 Virtual Series – The Resiliency Imperative as a way to bring together our global community of procurement, finance, and supply management professionals and collectively tackle the big issues we were all facing and continue to face as a result of the coronavirus pandemic. As a special treat for all our readers, Ardent is excited to present the recorded sessions from that Virtual Series. The first session is: Prevent, Manage, Recover: Key Strategies to Execute a Business Continuity Plan. We hope you enjoy!
About the presentation: Larry Williams is executive with almost 40 years’ experience at Proctor & Gamble who has spent his career transforming the people, processes, and solutions needed to drive a Best-in-Class P2P operation within a Shared Services environment. To maintain business operations in a business environment hit by the coronavirus and rife with global uncertainty, every enterprise needs a plan. A Business Continuity Plan (“BCP”) is the set of procedures and processes used in the event of a business interruption to maintain company operations until the supply chain returns to “normal” state.
In this presentation, Larry explained how to execute a BCP across its three phases so that a P2P operation can be constantly prepared. These phases of a BCP include: 1) Prevent 2) Manage 3) Recover. Some of Larry’s insights from the video above include:
- “In a crisis, a company needs to protect its sales, profits, reputation, employees and valuable skills”
- “A BCP must include people process technology, facilities, suppliers, materials, alternate suppliers and alternate materials.
- “Organizations need to be fair with its’ suppliers because if you treat them badly now they will remember it when things get back to normal and may hold it against you.”
- “BCPs need to be updated and tested annually at a minimum – You need your back up plan ready to go”
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Tagged in: Chief Procurement Officer, CPO, CPO Rising 2K20, CPO Rising Summit, P2P, People, Process, Solution Providers, Technology, The Resiliency Imperative
