“RISK MANAGEMENT”: PREVENTION IN THE CLIENT’S INTEREST

Meeting the needs of today's consumers is considerably more challenging than it used to be. Consumers' purchasing decisions are being steered by greater awareness, knowledge and interest in innovation, sustainability and cost. These factors, combined with the demand for an ever-higher level of product personalization, are leading us to focus increasingly on creating cutting-edge, original products. Adopting this approach proves fundamental to achieving and consolidating a competitive advantage over our competitors – an essential condition for survival. An organization that focuses on quality must be aware of and apply the principles of risk management and the problems that may emerge within the production and distribution system and to foresee any problems that might arise from improper use of its products.

Managing risks means estimating the likelihood that a problem will occur and seeking to predict the severity of that problem in order to identify a solution to it in advance and manage it as effectively as possible. Implementing a risk management process also helps us conduct thorough analyses of a product's risks and benefits. Our risk management is not limited to the new article design phase: the management process involves updated analyses each time that there are significant changes to products, services, the system or the processes by which they are governed. Feedback from customers who have used a product or received a service is also a part of our risk management process in its own right. The procedure calls for integration of the principles of risk management and the development of the quality management system.

Marketing, Sales and R&D and production work together, forming a relationship with considerable potential. This scenario is supported by an innovative approach towards digitalization of the production process founded on constant interaction, the sharing of information and the precise structuring of the work flow to ensure that it is as efficient as possible: innovative technologies and a strategic approach allow the entire process to be managed intelligently and efficiently.

Stakeholders enjoy selective, yet rapid, access to various key information relating to the process, such as the progress of activities, costs incurred and closing forecasts. These conditions are capable of creating an environment of cohesive development, even the processes involve different departments. The benefits of managing the process in this way are:

1. Standardization, i.e. mapping the process to reduce room for chance outcomes, while ensuring that all best practices are followed and turning workflow itself into a company asset.

2. Acceleration of time-to-market: a factor that today, in an evolved, highly competitive scenario, represents the main benefit sought. Accelerating new product development improves competitive margins, optimizes productivity and makes it possible to manage costs and risks.

3. Digitalization, by enabling information-tracking and the analysis of processes, frequencies and completion times, makes it possible to identify sophisticated patterns, which can be translated into KPIs (key performance indicators) useful in optimizing the process and, above all, making sound business decisions. The wide range and high volume of data made available by managing this process represent an opportunity for the analysis and study of ongoing processes.

4. Automation. This is a choice that often yields real, tangible benefits: fewer errors, decreased user activity and, as a consequence, less resistance to change among those involved.