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Risk mitigation in the implementation of AMTs: A guiding framework for future

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Author(s): Bhaskar Nagar | Tilak Raj

Journal: International Journal of Industrial Engineering Computations
ISSN 1923-2926

Volume: 3;
Issue: 3;
Start page: 485;
Date: 2012;
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Keywords: AMTs | ISM | Implementation

ABSTRACT
The fast industrial development increases different types of risks for the industries. Many risk factors are inherent in the implementation of advanced manufacturing technologies (AMTs). Industries are developing methodologies for risk prevention and protection. The present research focuses to identify various risks that could influence the implementation of AMTs, and develop a framework to mitigate them. For this framework, interpretive structural modeling(ISM) has been used to depict the relationship and priority among the various risks. This research provides a path for managers and indicates the dominant risks on the basis of higher driving power. Also, this research classifies the relationship among various risks in AMTs implementation according to their driving power and dependence. The risks have been categorized into four categories as autonomous risks, linkage risks, dependent risks and independent risks. The proposed hierarchal model would help the management to effectively handle and develop strategies against the risks and hence new and latest technologies can be adopted with ease and effectiveness.

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