Labor Concerns

Often one of the most overlooked aspects of risk are your own employees! Employees need to be properly trained to maximize their efficiency and productivity, as well as minimize risk to the company. Following standards and examples reduce the likelihood of errors and accidents. Employees injured on the job must be compensated and quickly replaced to ensure a smooth production process. Any safety issues could become a potential lawsuit if employees are not properly trained on machinery or any activity that has the potential to cause harm.

Just this June, a worker tragically died at a soap manufacturing company after sustaining injuries from being trapped in production machinery. Incidents like these close the entire facility while investigations take place by the police and safety regulators, such as OSHA. Non-compliance discovered in the investigation can result in major fees for your organization.

Cyber Risks

As cyber security methods evolve, so too do the methods to bypass them. Your organization needs to be attentive to protecting sensitive data for employees and customers such as social security numbers, addresses, payment information and more. Cyber criminals will take advantage of any opportunity that presents itself to them, which is why it is vital to ensure that even the smallest risk is prevented.

Access to documents and systems should be limited and noted, and there should be multiple layers of protection beyond passwords. If your data is not stored on-site, make sure you know where it is and assure you are in compliance with required regulations. As an example of data compliance, certain data cannot be stored overseas and must be kept for a minimum number of years. While this information is stored, you are responsible for its protection.

Automation

Keeping current, many manufacturing companies are utilizing industrial robots to run various processes.  Last year, the IRF reported that robot sales increased by an impressive 30% to 381,335 units! This boom in technology is no doubt in an effort to keep the edge on competitors and increase quality and speed of production, however, this has brought in a new area of risks.

Among many manufacturing risks, the increased use of these specialized machines will require constant supervision to ensure their protection from damage, and employees will need to be properly trained to operate them safely and effectively. The number of machines at a single facility can greatly increase its risk score as the monetary value of the location grows. Hardware or software defects in these machines can result in liability for the manufacturer, meaning extra expenses added to the bottom line.

How You Can Plan

As a part of your risk management process, you need to properly plan for all types of risks, not only the aforementioned 5 categories. Utilizing a risk management platform is key for ensuring all risks are minimized or eliminated. SecureWatch provides manufacturing companies an easy way to measure and mitigate risks and compliance gaps by streamlining the assessment distribution and collection process. Our software helps you understand different risks and their potential impact on business, as well as ensuring compliance with state and federal standards, guidelines, and best practices. SecureWatch also excels as risk mitigation software, helping you manage all the risk you’ve identified. Don’t get caught unprepared!