Taking Proactive Steps with Risk Management

What are the potential risks associated with the shoes we carry in terms of risk management?

It’s important to manufacture shoes as cheaply as possible. But if shoes are being returned by dissatisfied buyers, they are neither well-designed nor a well-priced product.

Therefore, we are responsible for conducting the necessary research and providing an early risk analysis.

Any form of upper or shoe lining made of materials including suede, leather, recycled leather, and non-leather falls under our responsibility as the materials manager. We have to make sure that every material is appropriate for the job and won’t have problems like strength or abrasion potential that could lead to returns.

Wear tests and laboratory results for any new materials can be included throughout the course of up to a few months.

Risk in your position

For us, managing risk is making early tests and analyses to reduce any future problems.

According to our operational model, we permit our shoe factories to work with whatever suppliers they choose, provided those suppliers have been approved and audited by Clarks and are capable of producing goods that meet our standards.

So how does risk factor into this? One of the primary problems has to do with material color; when we provide a swatch in the intended shade, there is usually a chance that the supplier won’t match the shade precisely. Human error during the checking procedure runs the danger of affecting stores selling the shoes to customers.

Learnings from Management of Risk (M_o_R 4)

Businesses now face a constant battle to control expenses while maximizing profits. Therefore, learning about and earning a certification in M_o_R 4 gives you access to a variety of risk management approaches.

We have alternatives for teaching those who operate outside our function how to categorize risk and therefore minimize issues later in the production process because my best practice approach is based on industry standards.

Being five steps or more in advance helps to guarantee that the entire pathway is not obstructed and is a better method to manage than having to go back into the procedure and clear the pathway of issues that have already occurred.

Planning to decrease the probability that risk may materialize is the essence of a risk-forward mindset. This entails a trade-off between short-term discomfort and long-term reward.

Dealing with metallic foil materials and how they are applied to shoes is one instance of this in my line of work. These come with inherent hazards that could cause manufacturing processes to run into unexpected circumstances. Therefore, generating a sample in a single color and conducting a wear test is necessary for risk management. As a result, before selecting how to proceed, we can gather information from testing and lab reports for any new materials.

When using a best practice approach to risk management, such as M_o_R 4, there is a component of confidence that we have used all available information and that the choice was the right one. As a result, we can demonstrate that we followed due diligence.

Visit us to help you to take Proactive Steps with Risk Management.

Here at CourseMonster, we know how hard it may be to find the right time and funds for training. We provide effective training programs that enable you to select the training option that best meets the demands of your company.

For more information, please get in touch with one of our course advisers today or contact us at training@coursemonster.com