Risk management is directly linked to product quality as well as all other areas of enterprise performance. However, it is important that risk management be approached from both a top-down and bottom-up perspective—something frequently aspired to but rarely achieved. Risk management involves a continuous improvement process designed to mitigate operational risk. It has long been a pillar of organizational management, but also determines how businesses achieve Operational Excellence and bring product quality to the next level.
This LNS Research eBook addresses risk management and how it is important for manufacturers to realize market leading approaches to risk management involve neither a top-down, enterprise-level approach, nor a bottom-up, operations-driven approach. Effective risk management standards fuse both approaches and combine enterprise-level sensibilities with localized priorities for a complete, holistic vantage point.