Potential issues
Mitigating risks to business continuity is your primary concern during the outbreak. Issues and challenges need to be recognised and dealt with rapidly, including control of the cost base to create headroom.
Reacting in real time requires an understanding of the current situation in order to make decisions quickly. Management information must be accessible and accurate, and a rapid increase or decrease in demand makes forecasting, inventory and capital management critical.
Adapting to the circumstances while trying to create a greater certainty of demand and supply in rapidly evolving market conditions is key, alongside adjusting the indirect cost base and support functions.