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2024 | OriginalPaper | Chapter

Risk Assessment for Solving the Production Variation in Small Medium-Sized Enterprises

Authors : Mohd Norzaimi Che Ani, Ishak Abdul Azid

Published in: IT Solutions for Sustainable Living

Publisher: Springer Nature Switzerland

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Abstract

The chapter delves into the significance of risk assessment in SMEs, highlighting the challenges and requirements posed by Industry 4.0. It critically evaluates current risk assessment practices, particularly the Failure Mode and Effects Analysis (FMEA), and proposes a mathematical and statistical formulation for a more effective and quantitative risk assessment. The research methodology involves a comprehensive literature review, case study analysis, and validation through simulation and industry implementation. The findings demonstrate the potential of the proposed risk assessment model to enhance production efficiency, reduce failures, and ensure the smoothness of production systems in SMEs, ultimately contributing to their competitive advantage in the digital manufacturing era.
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Metadata
Title
Risk Assessment for Solving the Production Variation in Small Medium-Sized Enterprises
Authors
Mohd Norzaimi Che Ani
Ishak Abdul Azid
Copyright Year
2024
Book
IT Solutions for Sustainable Living

Print ISBN: 978-3-031-51858-4

Electronic ISBN: 978-3-031-51859-1

Copyright Year: 2024

DOI
https://doi.org/10.1007/978-3-031-51859-1_3