Question

Describe what production-related risks are? please explain in detail and please no handwriting. Thanks

Answer 1

Supply chains are extremely dynamic, and are subjected to a range of internal and external threats constantly. This may also contribute, if not properly handled, to possible adverse impacts on the sales and brand reputations of manufacturers. Manufacturers should be building resilience into supply chains to proactively fix essential vulnerabilities. They should also balance risk and cost in order to avoid or recover quickly from disturbances associated with the risk.

Besides the particular legal provisions associated with each of these areas of risk, the organization and the board should bear in mind the possibility of reputational harm associated with these risks.Moreover, the company's brand identity and credibility will directly affect its productivity, sales and a number of other significant strategic areas. Reputation and reputation may be adversely affected by negative coverage in the media, publicity arising from adverse litigation, shareholder agitation, demonstrations and boycotts by special interest groups, and the general danger of consumer frustration, all of which can ensue from a failure to control and handle risks properly.

This is not the responsibility of the board or its appointed committee to explicitly manage each of the risks facing the organization and clearly address them. The threats should be made clear to the board members or the appropriate committee. They should be assured that management: develops and implements policies and infrastructure for risk management that effectively resolve the related risks, maintains the efficacy of risk policies and infrastructure, reports to the board or committee on these issues.