Introducing Risk Management Process to a Manufacturing Industry

تاریخ : جنوری ۲۰۱۴ - نومبر ۲۰۱۴

Risk is a very complex issue, everyone can define it in their own way, Risk occur at every aspect of life. For this, Risk management is very important in an organization, the standard for risk management is AS/NZ 31000:2009. This standard is introduced by the combination of both Australia and New Zealand workers. Here we are discussing about Risk Management in a manufacturing company. We selected Pepsi Co Company Peshawar where there is no proper risk management system. We visited the facilities and tried to find out the risks and treated them and give some recommendation for the future. On the basis of lots of visits, Comprising in depths study of facility, following risk management process was recommended. For treating the risks there are too many risks but here for this some tools are used for it, HAZOP ( Hazards and Operability), SCOR (Supply Chain Operational Reference Model), Risk Appetite Matrix and AHP (Analytical Hierarchy Process). The purpose of this tools is give a numerical value to a decision making input. We use Eigen Vector Method and also use iterations by this, we found that which risk is risky, and it tells us in mathematically form that what risk should be treated first. We treated each risk identified by the tools by risk treatment techniques which involved mitigation, avoidance, sharing, transferring. In the last we gave future recommendation that how to junior students can carry out the same project and make more improvement in it.