If you are in the automotive industry and haven't seen this questionnaire, you probably will. If you are not an automotive supplier or manufacturer, you will undoubtedly see something similar in the very near future. Wright PLLC Y2K issues are particularly acute for the manufacturing industry. From the equipment that mixes, monitors, machines, punches, rotates, dries, dips, or carries raw materials to the actual finished product itself, there may be a myriad of parts supplied by numerous vendors who, in turn, have supply contracts with other vendors. A supplier that has completed its own Y2K systems update may be unable to meet its contractual obligations if one or more of its suppliers has failed to adequately address its own Y2K problems.
Risk management is key.
Know what your Y2K issues are. Conduct a comprehensive inventory and audit of your operations. Determine who your key suppliers and vendors are. Those who are critical to your business demand the greatest attention. If you have determined these risks are not fully or adequately covered, we have the specialists and materials to assist you.