Risk Management in Creating Value for the Company Example of a Producer of Beverage Industry

The assessment of safety hazards is fundamental to an effective risk management in any industry. Food and beverage production involves a variety of industrial processes with associated hazards. Effective safety practices are used to reduce workplace hazards and promote safety in the work environment. This paper evaluated safety hazards and safety practices in the food and beverage industry (FBI) in South-South, Nigeria. A structured questionnaire designed in accordance with World Health Organization standard was administered to a total of 144 workers, out of which 134 (93.0%) were completed and returned. The questionnaire was fashioned to extract information on types of hazards, awareness of safety hazards, implementation of hazards and risks control measures and the effectiveness of safety hazards and risk management programmes in the food and beverage industry. A modified four-point Likert Scale was used to analyze and evaluate the questionnaire. A Proportional Importance Index (PII) was used to rank each factor variable in the questionnaire. The study identified the major hazards in the FBI as working at height (with PII = 3.3, respondents = 91%); high voltage areas (PII = 3.1 and respondents = 90%), loud noise (PII = 3.0, respondents = 80%), machines and equipment vibration (PII = 2.8, respondents = 69%) and faulty machines and equipment (PII = 2.7, respondents = 65%). The level of awareness on safety hazards amongst the workers was statistically significant (p < 0.05, 95%CI; PII = 3.1 - 3.6). The outcome of intervention showed that FBI-2 improved from 79.62% to 96.82%, FBI-3 improved from 89.81% to 96.18%, FBI-4 improved from 78.34% to 95.54% on worker’s knowledge on the assessment of hazards and risk in the FBIs. There was effective implementation of safety hazards and risks management programmes and controls in the FBI. Administrative control measures are used to reduce hazards and workers make adequate use of personnel protective equipment. There is need to evaluate the risks associated with identified high ranking hazards and develop a risk management framework for the industry based on ISO 31000 and other relevant safety regulations and guidelines.

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Risk management for food and beverage industry using Australia/New Zealand 4360 Standard

IOP Conference Series Materials Science and Engineering ◽

10.1088/1757-899x/277/1/012025 ◽

2017 ◽

Vol 277 ◽

pp. 012025 ◽

Cited By ~ 1

Author(s):

S Kristina ◽

B M Wijaya

Keyword(s):

Risk Management ◽

New Zealand ◽

Beverage Industry ◽

Food And Beverage Industry ◽

Food And Beverage

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Unlocking supply chain disruption risk within the Thai beverage industry

Industrial Management & Data Systems ◽

10.1108/imds-03-2015-0108 ◽

2016 ◽

Vol 116 (1) ◽

pp. 21-42 ◽

Cited By ~ 19

Author(s):

Ying Kei Tse ◽

Rupert L. Matthews ◽

Kim Hua Tan ◽

Yuji Sato ◽

Chaipong Pongpanich

Keyword(s):

Risk Management ◽

Demand Uncertainty ◽

Management Strategies ◽

Quality Uncertainty ◽

Supply Disruption ◽

Content Type ◽

Beverage Industry ◽

Increased Risk ◽

Risk Management Strategies ◽

Disruption Risk

Purpose – A growing need for global sourcing of business has subjected firms to higher levels of uncertainty and increased risk of supply disruption. Differences in industry and infrastructure make it more difficult for firms to manage supply disruption risks effectively. The purpose of this paper is to extend developing research in this area by addressing gaps within existing literature related to environmental turbulence and uncertainties. Design/methodology/approach – The authors test the model using data collected from 253 senior managers and directors in the Thai beverage industry using advanced statistical techniques to explore the relationship between representations of supply disruption risk and uncertainty. Findings – The results show that both magnitude and probability of risk impact on the disruption risk, but the probability of loss is a dominant determinant. The authors also find that demand uncertainty and quality uncertainty affect the risk perception of purchasing managers, and are related to the magnitude of disruption risk, rather than the frequency of occurrence. Interestingly, the results show that quality uncertainty negatively impacts on the severity of disruption risk. Research limitations/implications – The construct validity of demand uncertainty was under the required threshold, intimating the need for further construct development. Practical implications – The framework provides managers with direction on how to formulate and target their disruption risk management strategies. The work also allows practitioners to critical reflect on implicit risk management strategies they may already employ and their effectiveness. Originality/value – The paper identifies key antecedents of supply disruption risk and tests them within a novel industrial context of the beverage industry and a novel national context of Thailand.

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