On the whole, utilities are well-equipped to handle disruptions caused by disasters. The COVID-19 pandemic, however, is testing the most robust of emergency preparedness plans because of extended business lockdowns, transport restrictions and stay-home mandates.
The latest GEP bulletin, Energy & Utilities: A Five-Point Plan to Ensure Business and Services Continuity, evaluates key challenges that utility companies face and recommends actions for procurement teams to mitigate cash flow and supply risks, and ensure customers continue to get uninterrupted power and gas. It also discusses the urgent need to plan for concurrent disasters, as the hurricane season draws near.
- Leverage technology to avoid disruptions, improve safety
- Reach out to suppliers for mutual benefit
- The need to anticipate and prepare for parallel disasters
A must-read for procurement and supply chain professionals who want to reduce supply continuity risks and be prepared to handle other crises in the future.