Modelling of Risk Analysis in Production System

Abstract

Production system may be defined as "The procedure, methods or arrangement which includes all functions required to gather the inputs, process or reprocess the inputs, and deliver the finished output". Industries are also faced with different challenges due to the increasing complexity of their own production processes. Owing to the complex nature of production system because of its interface between organizations, technologies and tacit knowledge of employees, it is very difficult to analyse the inter-relationship among the various risks. Interpretive structural modelling (ISM) is a well-established methodology for identifying relationships among specific items, which define a problem or an issue. In this study, inter relationships among various risks like coordination risk, disruption risk quality risk etc. are established and categorized eight risks in four categories to focus on most influential risks among them.