Effective Crisis management with a proven framework
2020 will forever be remembered for a single global event. The COVID19 crisis was on a global scale unlike any event in the past 100 years. As a result, many business leaders have learned something very valuable about their organization – “Do we have the internal capabilities to deal with a crisis effectively?”
One thing is essential if we are not simply to survive the current crisis, but to emerge from it stronger than before – a goal with results-oriented coordination of all counter-measures. For a company of any size, challenges are normally known and dealt with in day-to-day business. But a crisis is not normal business! Suddenly and unexpectedly, disruptive forces affect all corporate functions, everywhere. This level of disruption is far more than can be handled within existing management structures, which are likely to lack the speed and capacity to handle the crisis effectively.
In a crisis, the behavior and performance of partners in the supply chain can change drastically. Often, suppliers who were solid, now present substantial risk.
Approaches like TARGUS’s Supply Chain Stress Test are used to quickly identify supply chain risks and bottlenecks through evaluating scenarios for different market developments.
As management consultants, we are constantly working with several teams at multiple locations and often in different time zones. TARGUS is typically on-site, working alongside clients, 5 days a week. However, due to this crisis remote collaboration has become part of our daily business.
