In the Manufacturing Industry, workers and companies alike are exposed to risk constantly. These industries must meet a complex array of local, national and international regulations and standards that have given rise to new environmental concerns, quality standards and export compliance.
IMPACT ERM is the leading technology used by manufacturing companies in the US and Europe to do all of the following:
- Lower exposure to risks
- Reduce losses
- Improve quality
- Raise productivity
- Provide comprehensive operational risk analysis
- Execute management systems and compliance initiatives
Ways that Manufacturing Companies use IMPACT ERM
For manufacturing companies, IMPACT ERM is the ideal Operational Risk Management software solution - for single sites or across a worldwide enterprise. IMPACT can help organizations with Regulatory Compliance, Management System Execution and Analytics & Reporting.
Regulatory Compliance
Manufacturing companies know that keeping up with the latest regulatory compliance requires vigilance. They also know that fine tuning risk performance within the constraints of the complex array of regulatory and standards compliance (i.e. Six Sigma, cGxP, SOX, ISO 9001, ISO 14001, etc.) across a global enterprise requires serious focus, communication and collaboration.
Trying to meet these demanding regulatory requirements affect local operations and global business strategies. Moreover, mounting international, regional and national regulations, laws and agreements have given rise to today's environmental concerns, such as increased liability for land contamination, take-back requirements for electronic devices, climate change and other environmental regulations. All the while companies have to satisfy quality compliance standards and focus on operating efficiencies to meet shareholder and customers expectations.
So, the challenge is to keep up, ensure compliance and maintain profitability. Getting the right balance is never easy. And there are social, economic and reputation repercussions for whatever choices are made. IMPACT can help manufacturing companies strengthen risk mitigation competence and compliance by providing organizations with the tools and functionality it needs to identify the weaknesses in programs such as corporate assurance, regulatory compliance, risk analysis, management of change, engineering design, and asset maintenance.
We have a long-standing commitment to helping companies identify risks and opportunities for process improvement. IMPACT ERM helps manufacturing companies in their compliance initiatives by helping to facilitate inspections, audits, findings and analysis delivering to management a high level of crucial and actionable information.
Management System Execution
IMPACT ERM helps manufacturing companies facilitate the management of system elements, compliance, continuous improvement, communication, analysis and reporting around a variety of management systems. IMPACT ERM excels in enabling the execution of these programs and provides the functionality to track processes and systems, identify risks, and analyze and report on compliance, risks and performance as well as demonstrate due diligence when required.
IMPACT works with existing management systems providing the Enterprise Risk Management (ERM) backbone centralize, prioritize and mitigate risk exposures that are identified from both "reactive" incident management and "proactive" audit, assessment, or observation processes. IMPACT can help your organization consolidate disparate management systems into a single-integrated database system enabling the entire organization in continual process improvement.
Analytics & Reporting
Most manufacturing processes generate voluminous, sometimes minute-to-minute data with hundreds of process parameters. Turning data into actionable information is difficult and time consuming without the proper analytical and reporting tools. IMPACT provides sophisticated analysis, reporting and scenario development tools to help engage the workforce from the field to the corporate office in continual operational improvement. Customized views and visibility of the data allows the right people to access pertinent information on a timely basis to help determine "what" is driving the success and failure of processes and potential risks.
Business Value for Manufacturing Companies
Measure, manage, and mitigate risk.
IMPACT ERM delivers capabilities for operations planning, incident, assessment, quality and environmental management, regulatory compliance assessment, and other risk management. Integrated communication and workflow processes non-intrusively engage leadership and workforce in reactive as well as proactive risk identification and execution of action items to help strengthen risk reduction systems. Manufacturing companies of any size can rapidly and affordably deploy a standardized set of business processes based on industry best practices.
As these processes propagate safer, more efficient practices throughout the enterprise, quality and productivity increase. These factors are generally where the highest profit margins are found.
Build a consolidated register of risk.
Many manufacturers face the same dilemma - they have islands of data scattered across several systems throughout the enterprise but no easy, centralized means for access. These systems are loaded with information about manufacturing processes, compliance and other pertinent data that can be leveraged to improve performance. Companies need a way to access the data and extract information easily to make collaborative, informed decisions fast and even in real-time. IMPACT software helps consolidate these management systems into a single-integrated database system interfacing with a variety of business systems.
Understand patterns of operations and performance.
IMPACT Exec Analytical & Reporting Tool provides sophisticated analysis, reporting and scenario development tools. They help Manufacturing companies analyze past experience to more accurately predict future requirements or gaps within the performance management system. Gaps and requirements become clear – such as regulatory non-compliance or potential for loss. Your system then engages all employees in prioritization of remediation and execution of action items.
Summary
For manufacturing companies, the risk could hardly be higher: increased competition, changing regulatory landscape, higher quality compliance standards and of course, the human element.
Today, these companies must also conduct and manage daily operations across far-flung enterprises. They must deal with globalization, regulatory compliance, heightened environmental pressures, mergers and acquisitions, and ever-changing business and market conditions. All of this combines to make operational risk management increasingly difficult.
These are precisely the reasons why manufacturing companies around the world that are among the most dedicated to reducing risk and improving safety have chosen to deploy the Syntex IMPACT ERMŽ solution for enterprise risk management.
Contact an IHS - Syntex manufacturing specialist
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