The British Standards Institute has found a significant improvement in companies’ business continuity planning in the past 12 months. However, of the 100 FTSE-250 firms interviewed, “Only 45% … had comprehensive plans in place for a supply chain failure, and 21% of companies said they required all suppliers to have business continuity plans in place.”
Nobody should kid themselves that this can remain the case: any company is potentially vulnerable to a continuity failure if a supplier lets them down. For that reason, expect to see suppliers increasingly called upon to prove that they have measures in place to ensure their dependability. This will be one of the main drivers for the growth of ISO 27001 certification in the next five years. Companies that have it will prosper; companies that don’t will get left behind.