Deloitte: Manufacturers should change the way they handle risk management

Risk management in the manufacturing sector should be an “ongoing conversation” rather than an annual presentation.

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Risk management in the manufacturing sector should be an “ongoing conversation” rather than an annual presentation. That’s a recommendation made in a new report by Deloitte in conjunction with the Manufacturers Alliance for Productivity and Innovation (MAPI). Among the findings of the study is that technology can play an important part in the risk management process. It also says that risk assessment should run through the whole organization. Cyber security is seen by companies as the biggest risk to IT operations while product design and innovation is the largest risk to the business over the next three years. There is also a recommendation that risk management would be better served by a dedicated committee rather than the almost universal practice of the board or audit committee being responsible. Read the full report. 
 

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