A Case Study of Risks Prioritization Using Fmea Method

Nowadays, Customers are placing tremendous pressure on vendor companies for high quality, reliable products. The rising capabilities and functionality of many products are creating it additional complex for producer to keep up the quality and reliability, which not only satisfies him but also delights him. Considerable research has been carried out and literature available in the field of Supply Chain Management since 1990. Successful supply chains use integrated measurement systems as a tool to achieve their organizational objectives. A comparative analysis of various risks factors reduces the chance of its occurrence. It indicates that validity of many of the measurement frameworks need to be established through further study. The process of choosing appropriate supply chain performance measures is difficult as a result of the complexity of these systems. The main motive of this paper is risk Prioritization using FMEA method, which are more severe for the Company. The vital motive of this analysis to review the literature in the field of various risk factors for supply chains to understand current practices and to help Industry to sustain its continue win in flat market where the competition is slit throat in current market. To accomplish this objective following steps have been performed: 1) Literature review on supply risk as well as FMEA Method 2) SMEs (Subject Matter Experts in industry) inputs 3) A Failure Mode and Effects Analysis (FMEA) method is being used for getting risks Prioritizations.