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Exponential growth of the omni-channel market strains manufacturers' ability to bring products to market, and it challenges their ability to adapt and provide the speed, choice, agility and visibility required to satisfy end-customers' buying and delivery expectations. Demand volatility and regulatory protocols add to the challenges in an economic climate where sales in many companies are generally flat year-over-year, and slow growth has become the new normal, Brumett says.
In this environment, financial and operational risks are greater than ever.
Some are well known throughout the organization. Other risks are not as visible but can cause just as much economic hardship.
While understanding and utilizing a traditional risk management program can be sufficient for many companies, a more mature, better business-value approach recognizes that risk management is a critical part of any sustainability strategy. It is no longer enough for organizations to maintain a complete understanding of their streamlined processes, lean improvement programs and enterprise-wide communications. To grow and succeed, it is imperative that enterprise leaders effectively identify and demystify all layers of risk in order to expand into new markets and sustain a competitive advantage.
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