Manufacturing companies face a myriad of risks such as operational, financial, legal, etc. These risks carry the potential to disrupt your ongoing operations, if not handled beforehand. Consequently, implementing effective risk management capabilities is becoming inevitable for manufacturers.
QualityMaster’s Risk Management Software is the tool that guides your business toward preparedness. It offers a structured approach to identify, evaluate, and prioritize potential risks to mitigate the impact of unexpected events.
QualityMaster's QMS seamlessly integrates with your business operations, offering easy customization and adaptability. This empowers manufacturers to systematically document and manage potential risks, identify the root-cause, integrate with NC/Change/Training, and take control actions to prevent their recurrence.
The risk management module offers many more robust functionalities
Identify the risk and define it with its source of origin and description.
Categorize risks based on their class, type, category, and sub-category for enhanced classification.
Assess the impact of risk on different business functions & objectives.
Determine the severity of the issues as high, medium, and low using “Heat Matrix”.
Classify the risks based on a severity schedule, including options like immediate attention, future risk, etc.
Connect easily with other modules like SOP, Complaint Management, Audit Management, Change Management , for further actions.
Define the controls you can take to bring down the risk to an acceptable level.
Put up an action plan mentioning the most effective way of executing the controls.
Make your action plan go through internal approvals.
Create tasks according to your plan and execute with precision, and associate them with the defined controls.
Assign the created tasks to the individuals and track their status.
Perform actual residual risk assessment to know the level up to which the risk has been lowered.
Benefits of Risk Management Module
- Automates the complete risk management process, saving time and resources
- Quick identification and reporting prevent organizations from huge penalties
- Helps maintain integrity across the organization
- Minimizes equipment downtime and keeps production delays at bay
- Facilitates in meeting compliance and industry standards
- Adjusts the response time according to the severity of risks
- Prevents costly reworks
- Improved data visualization & interpretation
- Reduced operational costs
- Focus on critical problems and opportunities
Benefits of Risk Management Module
- Automates the complete risk management process, saving time and resources
- Quick identification and reporting prevent organizations from huge penalties
- Helps maintain integrity across the organization
- Minimizes equipment downtime and keeps production delays at bay
- Facilitates in meeting compliance and industry standards
- Adjusts the response time according to the severity of risks
- Prevents costly reworks
- Improved data visualization & interpretation
- Reduced operational costs
- Focus on critical problems and opportunities
Brochure
Risk Management System
