CHAPEL HILL, N.C., Nov. 9, 2012 /PRNewswire/ -- In the wake of recent catastrophic events such as Hurricane Sandy, pharmaceutical and medical device companies are becoming more aware of the need to safeguard their competitiveness levels by executing strategic plans that include consistent monitoring and evaluation of emergency measures.
Unfortunately, the occurrence of a natural disaster is typically when most companies begin to regret not having a business continuity system in place. To identify how other world-class companies plan, prevent, prepare and respond to potential threats, Best Practices, LLC has published a new study: "Best Practices in Crisis Management & Business Continuity for BioPharma Manufacturing and Supply Chain Operations."
Key Insights Include:
- System fortification and redundant resources were seen to be the most effective means of avoiding outages and failures.
- Sole-source suppliers may provide the lowest price – but they also may endanger the supply chain.
- More than half of companies require suppliers have facilities in different regions to further hedge against disruption risk.
- Two thirds of companies employ various simulations, war games and scenario plans at least once a year to challenge business continuity plans and preparations.
To access the full report or to download a complimentary summary containing insights found in this report, click on the following link: http://www3.best-in-class.com/rr1187.htm.
While building up capacities for emergency responses continues to be a priority, the severity and frequency of disasters in the last decade reinforces the need to place much greater attention to the implementation of proactive strategies that ensure the continuity of supply chain and manufacturing functions. Achieving growth and sustainability is not just a matter of sustaining proven business models, but also of being prepared for unplanned events that can disrupt the effectiveness of such models.
The 110-page report contains over 500 metrics and 55 narratives that provide empirical evidence from leading biopharmaceutical companies on how to promptly and efficiently reduce the risks from and respond to emergencies to prevent or minimize the costs of emergency events.
For more information on this study or other recent primary research studies, contact us at 919.403.0251 or at bestpractices@best-in-class.com.
ABOUT BEST PRACTICES, LLC
Best Practices, LLC is a leading benchmarking, consulting and advisory services firm serving biopharmaceutical and medical device companies worldwide. Best Practices, LLC's clients include all the top 10 and 48 of the top 50 global healthcare companies. The firm conducts primary research and consulting using its comprehensive proprietary benchmarking tools and analysis. The operational insights, findings and analysis form the basis for our Benchmarking Reports, databases and advisory services to support executives in commercial and R&D operations.
SOURCE Best Practices, LLC
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