Realistic business continuity plan (BCP) for procurement in the food & beverage (F&B) sector

Abstract

A documented Business Continuity Plan (BCP) is a necessity in the competitive business environment today as everyone is running on a race to achieve their goals and targets. Considering the risk mitigation, some are already having BCPs but the effectiveness of the existing BCP is a question. Therefore, this research was conducted to understand the condition of existing business continuity plans in the Food and Beverage industry and provide necessary recommendations for fine tuning the same if needed. The research was conducted using a mixed methodology including both qualitative & quantitative data. Also, a thematic analysis was done to reach the best conclusions for identified research problems. A sample of respondents covering the Food & Beverage sector was selected and they involved for the data gathering providing valuable insights. During the research, it was observed that there are several areas which were not focused when developing the business continuity plan and it was recommended to fine tune the BCP including these findings. Especially, it is required to keep a plan for various possible scenarios which the business can think of rather having some theoretical scenarios. Also, everyone needs to be fully aware on their priorities when managing a crisis but as it can vary with the prevailing situation, it is better to document and keep everyone aware about the same.