Hasil untuk "Risk in industry. Risk management"

M. Lezzi, M. Lazoi, A. Corallo

Abstract The cybersecurity issues represent a complex challenge for all companies committing to Industry 4.0 paradigm. On the other hand, the characterization of cybersecurity concept within Industry 4.0 contexts proved to be an emerging and relevant topic in the recent literature. The paper proposes to analyse, through a systematic literature review approach, the way in which the existing state of art deals with the cybersecurity issues in Industry 4.0 contexts. In particular, the focus will be on the investigation of the main elements associated with cybersecurity theme (i.e. asset involved into cyber-attacks, system vulnerabilities, cyber threats, risks and countermeasures) within those industrial contexts where physical systems (machines, shop floors, plants) are connected each other via the Internet. Four areas of analysis are defined: definitions of cybersecurity and Industry 4.0 concepts, the industrial focus of the analysed studies, the cybersecurity characterization and the management attempts of cybersecurity issues. Through the literature review analysis, a framework of the main features characterizing each area is discussed, providing interesting evidences for future research and applications.

Fachri M. Rasyid, Achril Zalmansyah, Farah K. Arinta et al.

South Lampung Regency, located in southern Sumatra, Indonesia, records a high disaster risk index score of 176.14, with its coastal areas acutely exposed to tsunami hazards. Historical evidence of the 1883 Krakatoa and the 2018 Anak Krakatau tsunamis, which caused 118 deaths and extensive infrastructural losses, underscores the urgency of comprehensive mitigation efforts. This study adopts a qualitative ethnographic design integrated with geographic information system (GIS)-based spatial analysis to examine how coastal communities in Kalianda and Rajabasa transform indigenous knowledge into practical resilience strategies. Data were gathered through in-depth interviews, participant observation and satellite image–based land-use mapping. The spatial analysis classified six vulnerability zones and revealed that 42% of settlements remain within high-risk coastal buffers. The findings indicate that local communities complement structural mitigation, such as breakwaters and evacuation sites with culturally embedded practices, including interpreting natural warning signs, reinforcing communal solidarity and intergenerational transfer of evacuation knowledge. Contribution: The research contributes an integrated vulnerability map that merges structural, environmental and socio-cultural dimensions, demonstrating that the fusion of indigenous knowledge and scientific spatial assessment substantially enhances tsunami preparedness. These insights provide a replicable model for policymakers and disaster risk-reduction practitioners in similar coastal regions.

Zhenhuan Li, Dake Wang, Jaffar Abbas et al.

Technology innovation has changed the patterns with its advanced features for travel and tourism industry during the outbreak of COVID-19 pandemic, which massively hit tourism and travel worldwide. The profound adverse effects of the coronavirus disease resulted in a steep decline in the demand for travel and tourism activities worldwide. This study focused on the literature based on travel and tourism in the wake global crisis due to infectious virus. The study aims to review the emerging literature critically to help researchers better understand the situation. It valorizes transformational affordance, tourism, and travel industries impacts posed by the virus COVID-19. The study proposed a research model on reviving the international tourism activities post COVID-19 pandemic to gain sustainable development and recovery. The scholars have debated seeking the best possible ways to predict a sustainable recovery of travel, tourism, and leisure sectors from the devastating consequences of coronavirus COVID-19. In the first phase, the study describes how the current pandemic can become transformational opportunities. It debates the situation and questions related to the emergence of the COVID-19 outbreak. The present research focuses on identifying fundamental values, organizations, and pre-assumptions related to travel and tourism revival and help academia and researchers to a breakthrough in initiating the frontiers based on research and practice. This study aims at exploring the role of technological innovation in the crisis management of COVID-19 tourism impacts, tourists’ behavior, and experiences. The travel and tourism industry’s main stakeholders include tourism demand and organizations that manage tourists’ destinations and policymakers. They have already experienced the stages of responses, recovery, and resetting tourism recovery strategies. The study provides valuable insight into the coronavirus consequences on travel and tourism and practical implications for global tourism and academic research revitalization.

Violeta Bringas-Fernández, Begoña Torre-Olmo, María Cantero-Saiz

This review presents and explores the research priorities and evolutionary trends in banking-related climate risk research. It identifies four key areas of study illustrating the different perspectives comprising the banking-related climate risk research landscape, including: (i) ESG, green financing and climate risks, (ii) financial intermediation and risk management, (iii) sustainable development and economic transformation and (iv) monetary policy and financial stability. The empirical evidence indicates a rising and relatively recent scholarly engagement with climate-related risks and their consequences for the banking industry, although the literature is still in its formative stage. Overall, the analysis offers a broad overview of the academic terrain, emphasizing both consolidated insights and persisting gaps in knowledge concerning the ways in which climate risks are reshaping banking practices and financial stability.

Yiğit Kazançoğlu, Yesim Deniz Ozkan-Ozen, Muhittin Sağnak et al.

Abstract Transition from a linear to a circular economy (CE) is a challenging process for a sustainable supply chain, and innovative process approaches and technologies are needed to deal with the risks involved. Industry 4.0 principles have great potential to achieve optimal sustainable supply chain solutions and are expected to add value to sustainable supply chain operations by increasing efficiency and resource utilisation. Therefore, Industry 4.0 supports companies transitioning to a CE through improving the efficiency and sustainability of their supply chain management. Thus, the purpose of this paper is to investigate the potential risks of the transition from a linear to a CE, with proposed Industry 4.0-based responses from an operations management perspective within the sustainable supply chain. Implementation of the study was conducted in a logistics company in Turkey. An integrated MCDM (Multi-criteria Decision Making) approach was based on Fuzzy AHP, and TODIM was used to analyse the association between risks and responses. According to the findings, the most important Industry 4.0-based responses are the integrated business processes for cross-functional collaboration, modular processes for simplification and standardisation, and continuous monitoring of the cost and performance throughout the supply chain by big data and analytics. This study may assist managers in managing risks in supply chain operations during the transition from a linear to a CE through Industry 4.0 based responses. The main contribution of this study is a greater understanding of the risks related to the transition from a linear to a circular economy, and proposals for Industry 4.0-based responses as a means of overcoming these risks in a sustainable supply chain context.

D. Duan, P. Leng, Xiaohai Li et al.

Introduction To investigate the major existing occupational hazards and to assess the occupational health risks for ferrous metal foundries (FMFs) in Ningbo, China. Methods Unified questionnaires were formulated to investigate the information on the basic situations, occupational hazards, and occupational health management for 193 FMFs in Ningbo. Furthermore, we used the semi-quantitative risk assessment model, which was developed by the International Council on Mining and Metals (ICMM), to assess occupational health risks for 59 of 193 the FMFs. Results The casting process of FMFs in Ningbo was mainly divided into sand casting and investment casting, and silica-dust and noise were the major occupational hazards in both sand casting and investment casting foundries. Silica-dust mainly occurred in industries with such work as sand handling, modeling, falling sand, and sand cleaning, with the median of the permissible concentration-time weighted average (PC-TWA) was 0.80, 1.15, 3.52, 0.83 mg/m3, respectively. The noise mainly existed in industries with such work as sand handling, core making, falling sand, sand cleaning, cutting and grinding, and smelting with median of PC-TWA was 81.72 dB(A), 82.93 dB(A), 90.75 dB(A), 80.18 dB(A), 90.05 dB(A), 82.70 dB(A), respectively. In addition, the results of the ICMM assessment model indicated that 100 and 98.7% of the jobs exposed to silica-dust and noise in 59 FMFs have an “intolerable risk” level of risks of causing pneumoconiosis and noise deaf, respectively. Discussion The hazard risk of silica-dust and noise is serious for FMFs in Ningbo. It is necessary to supervise enterprises to improve operating environmental conditions, accelerate the reduction of silica-dust and noise exposure risks, and promote the healthy and sustainable development of the foundry industry.

Linya Peng, Yangjie Sun, Zhao Zhan et al.

AbstractLandslide susceptibility analysis is an essential tool for landslide hazard management. Correlation analysis of the driving factors before landslide susceptibility analysis is crucial to obtain more accurate results and higher computational efficiency. This article presents an FR-weighted GeoDetector, which can, at different gridding scales, stably screen out the driving factors most relevant to historical landslides in the study area compared to the performance of the original GeoDetector. The correlation analysis result shows that the most relevant seven conditioning factors to historical landslides in the study area are: lithology, distance to road, elevation, slope, STI, SPI, and distance to faults. Four machine learning models (logistic regression [LR], random forest [RF], artificial neural network [ANN], and Xgboost) are implemented for landslide susceptibility analysis, demonstrating that such models can achieve higher accuracy with features filtered by the FR-weighted GeoDetector than with all features. The Xgboost models trained on seven and 12 features were used to generate landslide susceptibility maps. The overlay with historical landslides showed that the models trained on seven features generated a more reasonable landslide susceptibility map, proving that selecting crucial landslide conditioning factors is a better solution than using a full range of landslide conditioning factors.

Sergiy Bushuyev, Kateryna Piliuhina, Elams Chetin

The article is dedicated to the study of impact of a BANI-world conditions to implementation of the high technology industrial projects and in particular of the nuclear industry projects. The purpose of the article is to analyze tendencies of changes of different factors related to the high technology nuclear project implementation against the changing conditions of the environment. The object is the project management methodologies in the BANI environment. The subject is theoretical analysis of the values differentiation in between the VUCA and BANI worlds, key aspects of BANI impacting implementation of the nuclear projects. Tasks to be solved: to analyze the transformation from the VUCA model to the BANI model, to present values and their differentiation as the basis for survival in the new world order, to develop a method for assessing project risks in the BANI environment. Methods: practical empirical analysis of nuclear project risks in comparison with BANI-model forecasts, applied research, project risk management methodology, probability theory. The following results were obtained: the differences between the values of s VUCA and BANI are determined, an understanding of the general changes that have arisen due to the functionality of the environment is provided, the project management methodology applicable in the BANI environment is analyzed, a qualitative and quantitative risk analysis based on BANI projections is implemented on the example of a nuclear project in Ukraine, and the grounds for determining the most influential BANI forecast are proposed. The main results of the research are identification and analysis of values and their differentiation in the process of transformation from the VUCA to the BANI world, proposals for the project management approach which could cover the needs of the nuclear project and the consequences of this transformation. To estimate risks, it was proposed to use qualitative and quantitative methods of risk assessment. The case study of one of the nuclear projects in Ukraine, and a mixed classic-Agile methodology for the management of the nuclear project was performed. Conclusions: risk management of the nuclear projects has to be carried out based on the impact of the BANI-projections to identified risks.

A. L. Lisovsky

Achieving the Sustainable Development Goals is impossible without the active participation of business, including contributing to the environment, improving the quality of human capital, supporting significant initiatives in the field of ensuring economic growth and creating new jobs; ensuring the well-being and health of citizens; ensuring responsible consumption and production. A significant task for achieving the Sustainable Development Goals is the development of mechanisms to protect the domestic market from illegal trafficking of industrial products, which will lead to the protection of public health and increase jobs. And the increase in tax collection will strengthen the social protection of the population.In Russia in 2021, the turnover of counterfeit products amounted to 7.2 billion rubles and, according to experts, will continue to grow. In this regard, it is necessary to analyze the risks of existing mechanisms of protection against counterfeit products and develop measures to reduce them.The object of research in this article is labeling, which is the application of a special DataMatrix code to the packaging and the entry of this unit of goods into the database.The purpose of the article is to develop recommendations on the use of additional visual control tools on the material carriers of the DataMatrix code, protected from forgery, and to assess the probability of the level of risk reduction and the level of possible losses when using them.The novelty of this study was: identification and analysis of risks of possible threats to the security of the mandatory labeling system for various categories of goods; development of a risk register of possible threats to the security of the system with a grouping of qualitatively assessed and quantifiable risks; development and verification of a model for assessing the probability and possible losses for a group of quantifiable risks; assessment of the probability of risks and possible budget losses from non-payment of taxes and excise duties; assessment of the probability of risks and possible losses for a bona fide manufacturer and end user; formation of management measures aimed at reducing the likelihood of risks and reducing the consequences of the potential implementation of risks; assessment of the residual level of probability and exposure to risks when using additional means of visual control on the material carriers of the DataMatrix code; assessment of the residual level of probability and exposure to risks when using additional visual inspection tools on tangible media protected from counterfeiting in similar systems and Track&Trace marking systems implemented in foreign countries.The results obtained can be applied by federal executive authorities in the formation of state policy in the field of increasing the level of security of Russians, significantly reduce the amount of counterfeit and low-quality analogues, effectively combat smuggling, protect legal businesses and consumers, and also allow the state to increase tax collection.

Valentina Lagasio, Fabrizio Santoboni, Davide Tremoglie

Pandemic risks, such as Covid-19, are difficult to insure because they are characterized by multiple risks and losses that can affect a variety of enterprises and people at the same time. Insurers are unable to generate accurate pricing due to a lack of time series and granular statistical data. To address the pandemic risk posed by the spread of Covid-19, we present a model of Catastrophe Risk with Non-Damage Business Interruption Policies (NDBI). The model entails a Monte Carlo simulation of various shutdown situations, as well as the frequency and severity of losses suffered by Italian SMEs. The research emphasizes the relevance of NDBI policies for both the firms - which can cover their losses - and insurance companies - that can achieve a profit margin thanks to the reinsurance.

Muluken Mekuyie

This study was conducted in rural communities of Lokka Abaya district, Sidama zone, southern Ethiopia to assess vulnerability status of men and women households to climate-induced shocks and stress. This article is based on household survey, focus group discussion and key informant interviews. A total of 258 smallholder farmers were selected from three villages using stratified random sampling. A combination of social, economic and environmental indicators was employed to develop the vulnerability index of each household head and estimate quantitatively that is vulnerability is estimated as a function of adaptive capacity, exposure and sensitivity of households. The results indicated that farmers had poor access to public services including access to affordable credit, market, health services and climate information. The survey revealed that droughts, floods, soil erosion, pests and diseases were climate-related challenges in the study area. Regarding vulnerability of households to climate variability, results indicated that around 8.5% and 18.2% of male- and female-headed households, respectively, were highly vulnerable whilst 41% and 45.5% of male- and female-headed households, respectively, were moderately vulnerable. The results confirmed that 37.7% and 27.3% of male- and female-headed households, respectively, were less vulnerable. The rest 12.8% men and 9% women were not vulnerable. Therefore, there is a need to enhance access to affordable credit, market, climate information, health, income diversification of farmers, soil and water conservation and afforestation of hilly areas if farmers need to be climate resilient.

Sabtain Fida, Muhammad Naveed

The present study brings new insights to investigate the empirical estimation of banking risk behavior through advanced mechanisms. Consistent with the need to comply with the new age of finance, this study uniquely banks its case by employing nested tested modeling through a nexus of bank-specific parameters, governance mechanism, and industry dynamics. The panel estimation based on the data set of all listed Pakistani banks from 2004 to 2018 substantiates the relative significance of customized advanced econometric models to understand the banking risk structure in an integrative methodical manner. The findings manifest exacerbation of banking risk from bank-level parameters of equity investments and advances' maturity, whereas investments driving sovereign support abbreviate bank risk parametrically. The governance mechanism mainly stipulates the efficacious role of governance structures to abbreviate banking risk. Moreover, the multifarious influence of industry dynamics of concentration and munificence abridges standalone and asset return risk, whereas accelerating total risk. Industrial dynamism also adversely affects total bank risk. The applied perspective of study offers advanced working knowledge to risk managers, policymakers, and financial institutions to comprehend the risk management framework.

E. Alexandrova, M. Poddubnaya

Peter Hanlon, Elaine Butterly, Jim Lewsey et al.

Abstract Background Frailty is common in clinical practice, but trials rarely report on participant frailty. Consequently, clinicians and guideline-developers assume frailty is largely absent from trials and have questioned the relevance of trial findings to frail people. Therefore, we examined frailty in phase 3/4 industry-sponsored clinical trials of pharmacological interventions for three exemplar conditions: type 2 diabetes mellitus (T2DM), rheumatoid arthritis (RA), and chronic obstructive pulmonary disease (COPD). Methods We constructed a 40-item frailty index (FI) in 19 clinical trials (7 T2DM, 8 RA, 4 COPD, mean age 42–65 years) using individual-level participant data. Participants with a FI > 0.24 were considered ‘frail’. Baseline disease severity was assessed using HbA1c for T2DM, Disease Activity Score-28 (DAS28) for RA, and % predicted FEV1 for COPD. Using generalised gamma regression, we modelled FI on age, sex, and disease severity. In negative binomial regression, we modelled serious adverse event rates on FI and combined results for each index condition in a random-effects meta-analysis. Results All trials included frail participants: prevalence 7–21% in T2DM trials, 33–73% in RA trials, and 15–22% in COPD trials. The 99th centile of the FI ranged between 0.35 and 0.45. Female sex was associated with higher FI in all trials. Increased disease severity was associated with higher FI in RA and COPD, but not T2DM. Frailty was associated with age in T2DM and RA trials, but not in COPD. Across all trials, and after adjusting for age, sex, and disease severity, higher FI predicted increased risk of serious adverse events; the pooled incidence rate ratios (per 0.1-point increase in FI scale) were 1.46 (95% CI 1.21–1.75), 1.45 (1.13–1.87), and 1.99 (1.43–2.76) for T2DM, RA, and COPD, respectively. Conclusion The upper limit of frailty in trials is lower than has been described in the general population. However, mild to moderate frailty was common, suggesting trial data may be harnessed to inform disease management in people living with frailty. Participants with higher FI experienced more serious adverse events, suggesting screening for frailty in trial participants would enable identification of those that merit closer monitoring. Frailty is identifiable and prevalent among middle-aged and older participants in phase 3/4 drug trials and has clinically important safety implications.

Emmanuel Raju, Dewald van Niekerk

No abstract available.

Guoxin LI, Kai LUO, Deqin SHI

The Duvernay project in Canada was taken as an example to summarize the advanced technology and engineering management model of shale oil and gas development in North America. Preliminary suggestions were put forward to accelerate the commercial development of domestic continental shale oil and gas. The advanced technologies, valuable knowledge and rich experience were introduced, including the evaluation of geological target area of the project, rapid long horizontal drilling and completion, high-intensity fracturing, and well spacing optimization. In particular, the concept and connotation of the full-life cycle management of North American unconventional resource projects were analyzed. Its emphasis on early evaluation and risk management, and a highly competitive market environment have played an important role in promoting technological innovation and management innovation. In addition, the low-cost sharing system of industry-wide knowledge and experience and the management mode were applied. These management approaches are of great significance for reference in accelerating the exploration and development of unconventional resources in China. China possesses abundant shale oil and gas resources, which are an important replacement to guarantee the national oil and gas energy supply. However, due to the late start and special geological characteristics and engineering difficulties in China, there is a large gap in technology level and management mode compared with North America. According to the advanced experience and enlightenment of the shale oil and gas development in North America, a preliminary proposal to accelerate the development of shale oil and gas in China was made.

Faluk Shair, Na Sun, Sun Shaorong et al.

The purpose of this paper is to investigate the impact of risk and competition on the profitability of the Pakistani banking industry. Data are retrieved from the annual statements of banks, the Ministry of finance Pakistan and the World Bank covering the period of (2007-2017). Two steps Generalized Method of Moments (GMM) with the collapse command is used as an estimation technique to overcome endogeneity, unobserved heterogeneity and autocorrelation problems. The results of the study showed that the liquidity risk has positive while credit risk, insolvency risk and competition hurt negatively the profitability of Pakistani banks. The results of the study also revealed that capitalization, size, taxation and GDP growth rate positively affect the Banks' profits while banking sector development and infrastructure negatively affect banking profitability in Pakistan. The operational cost management positively affects net interest margins but negatively affects ROA and PBT in the Pakistani banking industry.

T. Raz, E. Michael

Lei Chen, Luan Hu

Chemical industry is one of important cornerstone industries in China. Along with the irresistible development of China's economy, the speculative risks of China's chemical companies have been coming up as a major impediment to development of China's chemical industry to a certain extent. In this sense, it is of great significance to explore investment risks and preventive measures for chemical companies. Based on the Analytic Hierarchy Process (AHP), this paper builds a chemical investment risk analysis indicator system that involves four major ones, i.e. profitability, operation capacity, solvency, and development capacity. We take the chemical company M as a study case to analyze their investment risks herein. According to the results from analysis, M’s investment risk in 2017 made a composite score of 64.32; the risk exposure was relatively high; these figures show that there are huge problems on many indicators. Hence, aiming at huge stakes in business investment, M should take specific preventive measures against risks to constantly facilitate the rationalization of the investment risk management process, examine and assess the implementation effect of investment projects in a timely manner, in conjunction with potential investment risks.

Seyed Mohammad Mahdi Heydari, Davood Mohammaditabar, Sadigh Raissi

The FMEA method is one of the safety and reliability management techniques, which is very effective in identifying and eliminating potential problems in the product design and production process. Despite the extensive use of the Risk Priority Number (RPN) in FMEA, it is criticized due to shortcomings such as the inability to analyze crashes with a common cause, high duplicate RPN values ​​and the lack of direct and indirect relationships among failures and the causes. Considering the importance of safety in marine industry, this paper describes the implementation of an aggregating method of TOPSIS and DEMATEL which is able to overcome common shortcoming of traditional RPN method in a marine propulsion system.  The implementation of the method in prioritizing the main root causes led to more desirable results compared to the traditional RPN and DEMATEL base methods.