The Evolving Role of Risk in Enterprise Quality Management

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Building a versatile landscape to mitigate evolving risk in Enterprise Quality Management (EQM)

A number of issues ranging from growing organizational complexities, gaps in compliance processes, and ever-changing regulatory landscape have directly and indirectly impacted every area of business from operations management to customer satisfaction. Rising operational risks and quality risks have led to increasing economic inactivity and unforeseen business losses, affecting everyone including suppliers, partners, stakeholders and customers.

Evolving risks in quality arising from lack of transparency in business, mergers/acquisitions, new regulations, and constantly changing organizational protocols in the last few years have resulted in a lot of reputational damage. At a time when everything around business processes is becoming increasingly complex, outdated methodologies such as stand-alone applications or manual usage of paper-based procedures to address quality pose great risks. Organizations fail to accomplish their quality objectives due to a number of risk factors ranging from product defects, customer dissatisfaction, process inconsistencies, product unreliability, and security gaps.

Building a well-organized quality approach framework through sound training on quality trends, regulations and procedures will alleviate risks. Organizations equipped with a steady framework will be able to capture risks from results of audit reviews, inspections and incidents. In addition, a user-friendly quality approach system will track customer issues in detail, plan for product improvements and resolve quality based risks using a well-defined workflow. Prioritizing issues that require escalation and support will help organizations take immediate corrective actions which will reduce existing and emerging risks, improve product quality, and increase visibility in supplier quality. A streamlined framework will result in overall satisfaction of customers, regulators and third-party vendors.

Implementing an effective Enterprise Quality Management Software (EQMS) with a risk based approach to Quality will help organizations build successful quality programs that enable organizations to develop better decision-making methods. A proactive EQMS framework will boost organizational competency and productivity by enabling different departments within an organization to work collectively under a single platform.

Join Matthew Littlefield, President and Principal Analyst, LNS Research and Mike Rost, VP of Marketing, MetricStream as they discuss the evolving incorporation and association of Operational Risk Management (ORM) tools with EQMS. The webinar will also have discussions on a couple of other topics such as:

  • An overview of EQMS
  • Best practices for progressing quality management from a risk perspective
  • How ORM is increasingly affecting all aspects of quality management and corporate performance

Attend this Webinar

This webinar is scheduled to take place on August 28, 2014, at 11 am Eastern Time. To register for this webinar and learn more about the webinar and the speakers, please click here.

About MetricStream

MetricStream is a market leader in enterprise-wide Governance, Risk, Compliance (GRC) and Quality Management Solutions. MetricStream solutions are used by leading global corporations in diverse industries such as Financial Services, Healthcare, Life Sciences, Energy and Utilities, Food, Retail, CPG, Government, Hi-tech and Manufacturing to manage their risk management programs, quality management processes, regulatory and industry-mandated compliance and other corporate governance initiatives. MetricStream’s customers include Procter & Gamble, UBS, Societe Generale, Pfizer, Philips, Cummins, Kellogg’s, Mondelez International, SanDisk, NetApp, and United Technologies Corporation (UTC). MetricStream also owns and operates www.ComplianceOnline.com portal - the largest GRC advisory network and one of the largest GRC communities. MetricStream is headquartered in Palo Alto, California, USA with European offices in London, Paris, Basel, Milan, and Valencia (www.metricstream.com).

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