Managing risk in advanced manufacturing technology

Article Abstract:

Most advance manufacturing technology (AMT) projects fail to live up to expectations. Lack of success may be due to misunderstanding or mismanagement of the risk underlying AMT projects. After studying two dozen such projects, the authors conclude that AMT projects have special risk profiles and that risk management strategies should mirror these profiles. A risk profile should reflect four types or sources of risk: market, strategy, technology, and organization. This article explores and illustrates each of these sources of risk and then develops risk management strategies appropriate for each risk profile. While no company included in this study explicitly developed a risk profile of their AMT project, several companies did develop plans that included elements of all four sources of risk. In addition, they employed a variety of strategies and tactics to manage these risks throughout the projects. These AMT projects were, on average, more successful. (Reprinted by permission of the publisher.)

Manufacturing industry, Manufacturing industries, Innovations, Risk management, Manufacturing processes, Manufacturing

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Operations-based strategy

Article Abstract:

Although most companies confine their operations organizations to restricted, tactical roles, in some of the most successful firms operations has served as the foundation for - indeed, the driver behind - successful strategic attacks and defenses. This is most clearly seen in cases where small companies - although lacking the advantages of size, market position, and proprietary technology - take on big companies and in a relatively short time push their way to industry dominance. In such cases, the key to success often is an operations-based advantage. The peculiar nature of this advantage provides insight into the reasons many former industry leaders did not react more promptly and vigorously to such attacks, and why others, in contrast, were able to defend themselves successfully. (Reprinted by permission of the publisher.)

Small business, Organizational effectiveness, Strategic planning (Business)

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