| This paper presents an investigation into risk and its application to process industry decision making. The focus of the paper is initially aimed at measuring the perceived risk of different types of product returns in process industries, which, once begun, led to the realization that there is no "simple" measure of risk. Some of these considerations include, new product introductions, supply uncertainty, raw material variability, process yield variability, returns, and reprocessing decisions are just a few of the areas impacted. Complexity, process sequence tight-coupling, Normal Accidents Theory and High Reliability Theory will be explored for their role in enhancing or diminishing risk considerations. |
Updated 02/23/2014