Mitigating technical risks by creative problem solving approaches

The more intensive the competition, the more a company´s success depends on its ability to improve and renew its processes. Increasing complexity and interconnectedness of structure and process within production-related areas underline this. Risk oriented management becomes more and more important against the background of increasingly dynamic markets and the rising complexity within the corporate environment. Increasing international interdependence in all business areas and attendant worldwide distribution of most products do not only increase the possible scale of damage, but also the consequences. Especially the risk situation of manufacturers of risk sensitive products has intensified within recent years. Cost intensive field and product recalls accumulate. The direct resulting costs due to not detected risks may be of immense proportions and, in extreme cases, jeopardize the basis of existence for some companies.