Implementation of successful operational risk management allows manufacturers to operate with a minimized chance of incident that could negatively impact business. Citing data from Best-in-Class and All Other respondents, this report argues for the importance of incorporating operational risk management and suggests ways for manufacturers to implement solutions.
Key highlights include:
The sole focus on personal safety is not enough to mitigate operational risk in manufacturing.
Proper implementation requires the system framework to be tightly weaved with day-to-day business operations.
Mitigating operational risk is highly dependent on several factors: company-wide policies and procedures, risk assessment, and operational data.
Maintaining operational continuity and growth requires a company-wide goal of operational performance excellence, proper integration of operational risk management, accountability, and value of human capital.
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