UNBOUNCE - EXAMPLE PAGE-REPORT-ENTERPRISE DOCUMENT-KINGSPAN - Flipbook - Page 55
Business interruption (including IT continuity)
Risk and impact
Kingspan’s performance is dependent on
the availability and quality of its physical
infrastructure, its proprietary technology,
its raw material supply chain and its
information technology. The safe and
continued operation of such systems and
assets are threatened by natural and manmade perils and are affected by the level of
investment available to improve them.
The building industry as a whole is going
through some significant change with respect
to building regulations and codes. The risks
associated with misunderstanding some of
the potential changes and the nature of our
product set are more prevalent today.
Any significant or prolonged restriction to its
physical infrastructure, the necessary raw
materials or its IT systems and infrastructure
could have an adverse effect on Kingspan’s
business performance.
Actions to mitigate
- Kingspan insists on industry leading operational processes and
procedures to ensure effective management of each facility.
The Group invests significantly in a rigorous programme of
preventative maintenance on all key manufacturing lines to
mitigate the risk of production line stoppages.
- The impact of production line stoppages is also mitigated
by having business continuity plans in place to allow for the
transfer of significant volume from any one of our 105 plants
in the Insulated Panels division or 42 plants in the Insulation
division to another in the event of a shutdown.
- In addition, and as part of our consequential loss insurance,
Kingspan is subject to regular reviews of all manufacturing sites
by external risk management experts, with these reviews being
aimed at enhancing Kingspan’s risk profile.
- Kingspan continues to focus on developing, enhancing, and
protecting its IP portfolio. As a global leader in building envelope
solutions, Kingspan considers its IP security to be paramount.
In addition to trade secret policies and procedures, Kingspan
has developed appropriate IP strategies to protect and defend
against infringements.
- To reduce Kingspan’s exposure to raw material supply chain
issues, Kingspan retains strong relationships with a wide range
of raw material suppliers to limit the reliance on any one supplier
or even a small number of suppliers.
- Kingspan continues to inform all stakeholders of the
characteristics of our product offerings, their appropriate
application and benefits, to limit the risk of misunderstanding
within the building industry.
- Kingspan’s IT infrastructure is constantly reviewed and updated
to meet the needs of the Group. Procedures have been
established for the protection of this infrastructure and all other
IT related assets. These include the development of IT specific
business continuity plans, IT disaster recovery plans and back-up
delivery systems, to reduce business disruption in the event of a
major technology failure.
Innovation
Kingspan Group plc Annual Report & Financial Statements 2021
Global
Planet Passionate
Completing the Envelope
Risk & Risk Management
