Risk Management

In modern business where people, processes and IT are supposed to work in unison, risk is often considered intangible by management and upper executives. In a way the management team are correct, risk as we know it is based on a probability that something bad could actually happen – it’s the probability of a future event happening which could have significant or catastrophic consequences to our business.

Risk evaluation and management is a holistic process. It doesn't start and stop with design or the manufacturing processes. It should be assessed through the entire business process life cycle, from sales to contract review, order entry to work order generation, supplier selection to continuous supplier management, employee hiring to skills assessment and so on.

In order to achieve operational excellence these potential risk mechanisms (and their opportunities) must be identified, evaluated, prioritized and managed through to mitigation. And before you can implement a risk management plan, you need to consider all the aspects of your business from the Front-End-Of-The-Business (FEOTB), through to engineering (design and development), manufacturing, procurement, supply chain etc. Only once you have defined your entire business as it relates to raw material coming in and final product or services going out the door can you fully appreciate the business process, the employees that interact with that process and the existing IT systems which drive the process.

With a clear understanding of the overall business you can then determine where the risks are within the business, what the inputs and outputs are to the business, where the threats to the business exist and the opportunities for improvement.

Through NeXsys Groups professional services team we can help you define the areas of risk within your business, define the isolation and mitigation plans to ensure your company maximizes your operations while supporting the coming changes to ISO9001.

Services Available

• Value stream mapping
• Process and procedural streamlining
• Risk management in your business assessment
• Risk identification, isolation and mitigation plans
• Training courses & workshops

Services spotlight: Proactive risk management

Every aspect of your business is fundamentally a process, whether it's processing an order, manufacturing a product from raw material or adding a new supplier to your business. Every process which drives your business does so with people, sub-processes and an existing IT infrastructure all of which is required to support the ISO and AS standards and future requirements of risk management. NeXsys Group will assess your business to determine if you are ready for the coming ISO changes.

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