Disasters Come in Many Guises

Not all disasters, however, arrive as hurricane-driven waves. Sandy should inspire medical device firms and their management teams to review and retool their disaster recovery plans. Doing so ensures that the company can resume operations and rebound quickly after a loss. Sadly, risk managers are corporate counterparts to funeral directors. No one enjoys contemplating his or her own mortality. Similarly, those managing medical device risks must think about “what if” scenarios, even when business runs smoothly and others think the risk manager is a worrywart.

What will it take for your device firm to contemplate disaster? What is your vulnerability point? Are you located near an earthquake fault line? Are you in a flood zone? Does your clean room work with volatile chemicals? What supply chain disruptions—from a key supplier or customer—would cripple your business?