Risk Management

5
Jan

Managing Supplier Risk in the Food and Beverage Industry

To be a food or beverage manufacturer is to face enormous amounts of risk. These are highly regulated industries in which the slightest mistake could actually cost customers their lives, and penalties for failing to comply with the law are jail time. On the less serious end of the spectrum, changes in customer demand are also a risk food and beverage manufacturers must navigate.

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24
Aug

Risks Associated with ERP Implementations

Modern day ERP solutions merge data, technology and business operations.

Implementing these systems are a huge undertaking and because of all the moving parts, there are risks associated with this type of project and if they are ignored – there is a good chance that the implementation will fail. For most, these risks are manageable if they are known ahead of time. Identifying what problems may arise and addressing them early will certainly help mitigate them before they become a point of failure for your project.

But just what are some of the common risks you may encounter?

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12
Feb

Life Sciences Executive Webinar Series – “Mastering Compliance and Innovation”

Merit Solutions and OnShore Technology Group are excited to launch a new monthly Life Sciences Executive Webinar Series titled "Mastering Compliance and Innovation. This series will identify ways Life Sciences organizations can excel beyond the basics and leverage innovative technologies to achieve continuous improvement and global success.

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23
Oct

Supply Chain Risk Management

Supply Chains have never been more dynamic than they are today. Their complexity has increased leading to risks associated with geography, compliance – even natural disasters. This occurs on the vendor and the customer side. It follows that as complexity increases, so do costs. When these risks are not appropriately managed companies can lose customers, profits and reputation.

Supply chains have gone global for a number of reasons. They may be seeking cost savings or they have capacity issues. Companies may outsource certain tasks seeking subject matter expertise or to allow themselves the ability to focus on core capabilities. Whatever the motivation there are times when it seems like the sky is falling but there are some best practices for supply chain risk management that can reduce the company’s vulnerability.

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8
Oct

Risk Management for Life

The risk device companies assume is great. This requires a comprehensive planned approach. A policy on paper is not enough. It must be inherent in the day to day activities throughout the organization. Risk is constantly assessed and appropriate and timely decisions made. The goal is a reasonable assurance of safety and effectiveness of the product. In the simplest terms risk management results in the following:

  • Identifies hazards
  • Evaluates /estimates risk
  • Determines risk acceptability
  • Controls risks 

Risk can take many forms. Certainly, the most concerning is the risk to the patient but risk to an operator or employee must also be considered. There are regulatory and legal considerations and finally, there are issues that propose a business risk. Read more