We explore risk assessments and the importance of understanding risks at both macro (project) and micro (product) levels. With practical insights, let’s explore how businesses can identify potential risks in new product development, supply chain setups, and manufacturing processes.
Assessing risks is a fundamental practice that can save businesses from costly mistakes, compliance issues, and unforeseen market disruptions. Join us as we break down why risk assessments matter, how to conduct them effectively, and the best strategies to mitigate threats in manufacturing, especially for those sourcing from China and Asia.
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Episode sections
- 00:00 – Introduction & U.S. Tariff Updates (25% added to aluminum & steel imports)
- 04:27 – Understanding Risk Assessments: Why They Matter
- 07:04 – Project-Level Risks in Manufacturing
- 11:00 – Product & Process-Level Risks
- 23:20 – How to Conduct a Risk Assessment
- 29:49 – Risk Mitigation Strategies & Best Practices
- 36:06 – Conclusion: Key Takeaways
Related content…
Want to learn more about conducting risk assessments? Check out our recommended resources linked in the show notes below, and don’t forget to subscribe for more insights on managing your manufacturing operations effectively.
- How To Do A Product Risk Assessment ‘By The Book’ (for Safety)
- FMEA (Failure Modes and Effects Analysis)
- 3 Key Process Improvement Tools You Need To Start Using: Flow Chart, FMEA, Control Plan
- What Is A Process FMEA and When To Use It? [Template]
- Get help from Sofeast! On-Site Process FMEA + Process Control Plan Workshops
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