Risk management is the identification, evaluation, and prioritization of risks (defined in ISO 31000 as the effect of uncertainty on objectives) followed by coordinated and economical application of resources to minimize, monitor, and control the probability or impact of unfortunate events or to maximize the realization of opportunities.
Artificial Intelligence (AI) has the potential to significantly impact the field of continuous improvement by providing organizations with new tools and techniques to identify and eliminate waste and improve performance. Some ways that AI can be used in continuous improvement include: It is worth mentioning that AI is not a silver bullet, the success of…
This article is provided courtesy of CERM® Risk Insights, and publication of the CERM® Academy, a content partner of the Operational Excellence Society. Safety and sustainability are the major considerations within the growing electric vehicle industry, there is lots of excitement and lots of challenges in the fast-moving electric vehicle industry and both descriptions quickly work…
I was in Denver recently and started chatting with people at the bar (as I am apt to do, from time to time). Regardless of what it might sound like, I meet some rather interesting folks (who are fellow road-warriors like me) and I strike-up some even more interesting conversations. On this particular occasion, I…
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The war in Ukraine is exacerbating the rise in energy prices and disruptions to supply chains that have emerged during the pandemic. These two factors will weigh on the evolution of transport prices and logistics costs in general. Two years after the outbreak of the pandemic, which generated an awareness in Europe of issues concerning strategic…
Nearly half of the employees who voluntarily left the workforce during the pandemic aren’t coming back on their own. Employers must go and get them. Here’s how to start. No, you aren’t imagining it: workers are leaving your company faster than you can replace them. According to the US Bureau of Labor Statistics, more than 4.3…
Entrepreneurship, innovation, talent and cash flow are not enough for your commercial success. As a founder, business owner, investor or advisor, you need to develop and implement ‘business exit intelligence™’ for your ‘smarter business exits.’ By keeping an eventual exit in mind, you can develop your own ‘design thinking’ to give unique context and insight…
