Responding When a Third Party’s Crisis Impacts Your Org
By Andrew Moyer for PRNews
[Editor’s Note: With negotiations between UPS and the International Brotherhood of Teamsters still ongoing and the looming potential for the former to strike, businesses large and small must be prepared for disruption. Here, our author identifies the impact a third-party partner can have on an organization and how businesses should efficiently and accurately communicate a plan to their stakeholders.]
Almost every company has been there: a partner, otherwise completely unknown to your end consumer, plays a critical role in the trust, reputation and relationship cultivated with that client or customer. But what happens when that unseen, and most likely unfamiliar, entity faces its own crisis that precludes it from meeting the expectations of your stakeholder?
You are now in crisis mode. Without being at fault, you are likely to be blamed and it is your reputation and trust that will be tested.
The interconnected nature of the world’s supply chains and business relationships means this is a “when,” not an “if,” scenario for all organizations. To effectively manage through these moments, an organization should focus on a few key actions:
Plan for the Inevitable Interruption: Before you even find yourself in one of these situations, ensure your organization has undertaken a supply chain/partner risk assessment to understand where your vulnerabilities are. As part of that assessment, evaluate the readiness of your partners, map potential contingencies, understand when and how to activate those workarounds when needed, and set up clear processes and protocols for coordination and communication with each partner.
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