The program is currently in development and optimally will enable you to measure resilience either on your own, with a related “second party” (e.g. a customer/supplier relationship), or via unrelated “third-party” certification (outside auditor).
A clear metric could be used to more effectively manage enterprise-wide efforts. We have several hundred firms involved right now in Working Groups to advance benefits to businesses and evaluate the use of certification in assessing supply chain resilience. This provides companies with a measure to be shown to insurance companies and rating agencies to realize benefits in insurance and credit ratings, and also in public reporting for both reputational and compliance advantages. This is all to more clearly link resilience with bottom-line benefits over time.
First steps in evaluating the certification might include:
• Educating yourself on the program and potentially joining a Working Group (info available at);
• Pursuing internal conversations with potentially interested parties in supply chain management, risk management, insurance, compliance, legal, etc.; and
• Conducting an internal self-assessment to one or more of the standards when they are identified.
Next Month’s Question: How do I maintain security employee training when faced with a tight budget?