Risk Management Of Yemen’s Beverage Manufacturing Industry Through Hazard Operability Study
Risk can be defined as a situation where there is a probability of both loss and gain. In order to realize the availability of risk, one should have enough awareness about losses and gains incurred. The higher the complexity in companies, the higher vulnerability in supply chain. Complexity and effi...
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| Format: | Thesis |
| Language: | English English |
| Published: |
2019
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| Online Access: | http://eprints.utem.edu.my/id/eprint/24927/1/Risk%20Management%20Of%20Yemen%E2%80%99s%20Beverage%20Manufacturing%20Industry%20Through%20Hazard%20Operability%20Study.pdf http://eprints.utem.edu.my/id/eprint/24927/2/Risk%20Management%20Of%20Yemen%E2%80%99s%20Beverage%20Manufacturing%20Industry%20Through%20Hazard%20Operability%20Study.pdf http://eprints.utem.edu.my/id/eprint/24927/ https://plh.utem.edu.my/cgi-bin/koha/opac-detail.pl?biblionumber=118160 |
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| Summary: | Risk can be defined as a situation where there is a probability of both loss and gain. In order to realize the availability of risk, one should have enough awareness about losses and gains incurred. The higher the complexity in companies, the higher vulnerability in supply chain. Complexity and efficiency in supply chain risks are two important drivers. If organizations and manufacturing companies as Beverage Company have problems and difficulties on how to manage their internal and external disruptions, this could cause many problems to supply chain and the quality of products. Satisfaction of customers is the target of all companies and it must not be influenced by an inefficient Risk Management (RM). There is a lack of implementation of RM in Yemen especially in the local company such as beverage companies. Because of the time consuming, this project will discuss only risks related to the supply and manufacturing processes. In addition, some risks related to supply chain will be excluded which are demand internal risks and external environmental issues. The project will focus on the production process risks starting from raw material to finished product. This project involve three objectives which will be discussed in three phases; identification of risks, analysis of risks, and avoidance strategies and the Risk Management Process (RMP) implementation. In the first stage, all risks related to the four areas which are suppliers, material, process and inventory will be identified. In the first stage a brain storming tool is used which is Hazard and Operability Study (HAZOP). The second stage is the evaluation of all identified risks based on their likelihood and impacts in order to determine the critical risks via using risk matrix. The last phase is to carry out strategies to avoid and mitigate the critical risks and to give recommendations for ABC Beverage Company on the implementation of these reactive and proactive strategies. The real conditions, by which data collecting could be analyzed first hand, is examined by quantitative method. All interviews that were done during collecting data were performed qualitatively. This qualitative method was used for obtaining an overall image of the company and to do interviews by Skype and WhatsApp. Furthermore, a written questionnaire was sent to engineers in the company to be answered as a method of collecting data. The result for this project is a list of possible risks that could happen at the beverage company and their causes and consequences which is the first objective of the project. Moreover, the critical risks were specified and gathered into groups after doing risk analysis by risk matrixes. Furthermore, mitigation strategies and suggestions to avoid and mitigate risks are presented based on the interviews, questionnaires, and based on the best practices of the Supply Chain Operations Reference (SCOR) method. Finally, a model for the risk management process implementation and its supporting tools is presented. |
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