This assignment is due at the end of week 5. Business Continuity Planning is another tool used to measure and understand an organization’s supply chain risk. Review the Business Continuity Planning Assessment Questionnaire in Appendix A of the Kildow text. Consider your organization’s business continuity plan, if any, and evaluate the organization using the Kildow template in Appendix A. You may choose an organization other than the one where you are working or have worked. You may average the scores obtained from the categories to provide a 500-word overview on your assessment. If your organization is not conducive to a business continuity assessment, you may select any organization which you are either familiar with or can conduct research.
Axis Flour Millers Business Continuity Risk Assessment
The company chosen for the continuity plan assessment is a partnership company located in Illinois, Chicago. It is a wheat flour milling company that owns some wheat farms but relies mainly on buying the grain from large scale farmers.
The company has been in operation for the past three years and is doing good when it comes to profit. Over the past two years, its growth rate has been in operation stands at 48%, and it registered adequate liquidity in the first and second quarters of 2020.
The aim of conducting the risk assessment was to identify potential risks to the continuity of Axis Flour Millers. The process involved assigning ratings to risks and identifying ways to alleviate the risks.
The risk assessment was carried out using Kildow’s risk assessment tool, which covers leadership, logistics, supply, manufacturing, industry, customer demand, integrated supply chain, information system, sales, and operations planning (S&OP) processes, and balanced scorecard.
The tool has a rating scale of 1 to 10, where any score between 1-4 means the risk associated with that parameter is low, 5 to 7 means the risk is medium, and 8 to 10 means the risk is high.
The Risks Identified
From the assessment, two factors were identified as the major threats to Axis continuity. Leadership was identified as the highest inherent risk with a rating of 8. The risk associated with leadership was pegged mainly on the availability and accessibility of information. Information is essential for the continuity of business and should, therefore, be available and freely communicated (Imperva, 2019). All leadership levels ought to be well informed of the strategic directions and data indicating the performance levels in achieving the strategy (Imperva, 2019). In the case of Axis, it was established that the company is operating on a “need-to know basis,” and only a few people have access to information.
The second identified risk was under industry, which scored six on the scale. This parameter was used to gauge the impact of the industry’s risk handling on the business. Companies, in particular geographical locations, were considered more risk-prone. The biggest risk concern, risk approach, risk organization, supplier alignment, and risk practices were all measured under this parameter, and the average score constituted the industry risk score. The weak link was found to be the industry’s risk approach, risk practices, and risk organization. The industry’s risk approach focuses more on response to crises rather than the recommended prevention of the same. Best risk practices require the industry and the company to monitor global events, simulate the company’s scenarios, and run global risk dashboards (Kádárová& Durkáčová, 2012). However, in Axis’s case, the industry and company monitor global events but only use that to evaluate suppliers. Risk organization requires that industries and companies should have a risk manager (Kádárová& Durkáčová, 2012). Contrary to this requirement, Axis and the industry have none.
The business continuity plan risk assessment was aimed at unearthing the factors that Axis is exposed to that threaten its continuity as a business. It was also meant to identify the likelihood of the occurrence of such threats, and the impact they are likely to have on the business should they occur. Th assessment proved the existence of threat to Axis and demonstrated that some of these risks are of high criticality. In order to minimize the number of potential risks, it would be prudent that the company mitigates the highly critical risks. The company should also give priority to conducting regular assessments so as to deal with any existing and imminent threats.
Business continuity & disaster recovery planning (BCP & DRP) | Imperva. (2019, December 30). Imperva. https://www.imperva.com/learn/availability/business-continuity-planning/
Kádárová, J., & Durkáčová, M. (2012, January). Risk management in industrial companies. In 2012 IEEE 10th International Symposium on Applied Machine Intelligence and Informatics (SAMI) (pp. 415-419). IEEE.
Plagiarism Free Papers
All our papers are original and written from scratch. We will email you a plagiarism report alongside your completed paper once done.
All papers are submitted ahead of time. We do this to allow you time to point out any area you would need revision on, and help you for free.
A title page preceeds all your paper content. Here, you put all your personal information and this we give out for free.
Without a reference/bibliography page, any academic paper is incomplete and doesnt qualify for grading. We also offer this for free.
Originality & Security
At Homework Sharks, we take confidentiality seriously and all your personal information is stored safely and do not share it with third parties for any reasons whatsoever. Our work is original and we send plagiarism reports alongside every paper.
24/7 Customer Support
Our agents are online 24/7. Feel free to contact us through email or talk to our live agents.
Try it now!
How it works?
Follow these simple steps to get your paper done
Place your order
Fill in the order form and provide all details of your assignment.
Proceed with the payment
Choose the payment system that suits you most.
Receive the final file
Once your paper is ready, we will email it to you.
We work around the clock to see best customer experience.
Our prces are pocket friendly and you can do partial payments. When that is not enough, we have a free enquiry service.
Admission help & Client-Writer Contact
When you need to elaborate something further to your writer, we provide that button.
We take deadlines seriously and our papers are submitted ahead of time. We are happy to assist you in case of any adjustments needed.
Your feedback, good or bad is of great concern to us and we take it very seriously. We are, therefore, constantly adjusting our policies to ensure best customer/writer experience.