Business continuity analysis for spare-parts warehouse

Abstract

A risk analysis of the spare-parts warehouse of a business organisation was conducted to assess the need for implementing a business continuity management system. The process of identifying and evaluating risks was based on the framework outlined in ISO 31000 and utilised various industry-standard methodologies. The risk with the most significant impact was determined to be a warehouse fire. Given the combination of a high-impact event with a low probability of occurrence and the current state of the risk-mitigation plan within the organisation, it is advisable to implement a robust business continuity plan. Such a plan would not only protect the enterprise from the consequences of this risk but also contribute to enhancing business resilience. Resilient organisations create resilient delivery chains, and are able to swiftly recover from setbacks, thus attracting customers, partners, and investors who value reliability and stability.