@Risk

Would your company survive a major incident such as a fire, flood, act of terrorism, or a pandemic like the swine flu?

New research from the British Insurance Brokers’ Association (BIBA) reveals that nearly half (45 percent) of businesses have no –or only vague –plans to deal with the effects of flood or storm damage. I found that statistic alarming, considering: 1) how common flood and storm damage claims are, and 2) that earlier BIBA research found that 80% of businesses affected by a major incident close down within 18 months.

BIBA surveyed 200 small businesses in 2009 and discovered that: (more…)

A recent survey from the Chartered Institute of Logistics and Transport in the UK (CILT) shows that in 2009, 68% of major logistics and supply chain operations have specific plans in place for dealing with the possibility of a flu pandemic as part of their overall disaster recovery strategy—that’s up from  43% in last year’s survey.

Of those companies with specific flu plans, almost two-thirds (63%) include counter measures, such as face masks, gloves and anti-viral medications, in addition to the use of schedule changes, overtime, agency staff, and other arrangements.

After all, as Steve Agg, Chief Executive of CILT said, when it comes to the flu, “Crossing fingers and hoping for the best is not a viable operational strategy.”

Now, though, some companies that took extraordinary precautions are coming under fire from critics. (more…)

Frisay’s post about fake parts in the supply chain is underscored by recent news from the European Federation of Pharmaceutical Industries and Associations (EFPIA). The EFPIA announced last week that it has launched a two-month pilot project to verify medicines and help reduce the risk of counterfeit pharmaceuticals being dispensed to patients.

The project, underway in 25 retail pharmacies in and around Stockholm, will verify more than 100,000 products. Each product will be coded with a small data matrix (similar to a barcode) that, once scanned, can alert the pharmacist as to whether or not a pack has been previously dispensed. The data matrix will contain information about product code, batch number, the expiry date and a unique, randomized serial number which identifies packs individually.

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Recent headlines about shortages of H1N1 vaccines underscore the unique challenges and risks that are embedded in the medical products supply chain.

For example, the globalization of manufacturing and supply of medical products has created an array of significant safety and security concerns –issues that need attention from the industry, from governing organizations like the FDA, and from the international health care community as a whole.

Yesterday, PharmTech.com published an excellent discussion about these and other pharma supply chain threats.

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Yesterday, business leaders were reminded once again that they need to prepare for a widespread outbreak of the H1N1 flu.

Gary S. Lynch, managing director, global leader of Marsh Risk Consulting, Supply Chain Risk Management, spoke at a luncheon of the Association of Professional Insurance Women in New York and said that he believes most U.S. companies remain unprepared to realistically deal with a flu outbreak.
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