Risk mitigation strategies

Braithwaitte (2003) and Chopra and Sodhi (2004) discuss several traditional and flexible risk mitigation strategies to avoid supply chain breakdown. 

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The quality of design (product and its manufacturing process)—the ability to reliably predict quality and performance, process monitoring and controls, process capability and appropriate risk-mitigation strategies—provides an opportunity to achieve real time quality assurance (the ultimate level of efficiency). This also provides an excellent opportunity to develop efficient and effective quality assurance systems as an alternative to market or public standards (18). 

PAT Tools There are many tools available that enable process understanding. These tools, when used within a system, can provide effective and efficient means for acquiring information to facilitate process understanding, continuous improvement, and development of risk mitigation strategies. Such tools are categorized as follows ... 

The system risk assessment is seen by the authors as one step of risk assessment when the system produces electronic records. The second part would be an assessment of the risks to the records stored in the system. Very recently, a new guidance document on a risk-based approach to e-records and signatures was published, focusing more on the risks related to records and signatures once they are maintained electronically, and proposes risk mitigation strategies for several types of records based on their risks. 

All pharmaceutical products have side effects. Many factors affect an individual s ability to remain on a product. Depending on the safety profile of the products, the proportion of patients who will eventually discontinue the products for safety reason will vary. At times, alternative products were developed for patients who cannot tolerate a commonly prescribed medication. For example, a medication patch may be developed to avoid gastrointestinal-related side effects. When an adverse reaction is serious, researchers will typically investigate patient characteristics to help identify patients who are at a higher risk for the serious adverse reaction. Such investigations, if successful, will lead to useful risk-mitigation strategies. 

A risk portfolio is defined as the list of all risks a company faces, both internally and externally. Generating a risk portfolio helps the company to assess and prioritize the various types of risks and develop appropriate risk mitigation strategies. 

These are intervention strategies that are built into the product design, manufacturing and supply chain operations, in order to reduce or eliminate risks that can disrupt the company s supply chain. It is very important that the cost of the risk mitigation strategy does not outweigh its benefits. 

Give examples of both the traditional and flexible risk mitigation strategies used by companies for controlling risk. 

We devote an entire chapter to managing risks in the supply chain, emphasizing risk quantification models and risk mitigation strategies, and presenting important problems that extend beyond the traditional treatment of supply chain management. 

This paper is organized as follows (i) first, a brief overview of the risk mitigation strategy selection and ANP technique is given so as to set the background for the main contribution of the paper, (ii) second, a decision model is proposed for risk mitigation strategy selection in offshore wind farms, and (iii) finally, the implementation of proposed model is presented and the results are discussed. 

Risk mitigation strategy selection as a complex MCDM problem... 

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