• Summary
  • Contents
  • Subject index

This text provides informative, short introductions to the core concepts of Operations Management. This text contains more than 50 concept entries and is fully cross-referenced.An outstanding reference for Operations Management students at all levels. 

Risk
Risk
Risk Management

Industrial engineering has always included in its subject matter the subject of product reliability and of product liability. At the moment risk management has become a ‘hot’ topic in business studies, a topic which has grown quickly especially in the field of finance. Simply put, modern risk management is concerned with organisational exposure to volatility. For example, a manufacturer may suffer from fluctuating raw materials prices, or a banker may suffer from fluctuating default rates on loans.

Operations management, quite surprisingly, has never been overly concerned with risk, at least from a theoretical perspective. ...

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