{"id":11612,"date":"2024-01-18T08:19:59","date_gmt":"2024-01-18T16:19:59","guid":{"rendered":"https:\/\/www.qad.com\/blog\/?p=11612"},"modified":"2025-03-13T08:47:21","modified_gmt":"2025-03-13T15:47:21","slug":"embracing-risk-based-thinking-a-practical-guide-to-risk-management","status":"publish","type":"post","link":"https:\/\/www.qad.com\/blog\/2024\/01\/embracing-risk-based-thinking-a-practical-guide-to-risk-management","title":{"rendered":"Embracing Risk-based Thinking: A Practical Guide to Risk Management"},"content":{"rendered":"<p>[vc_row][vc_column][vc_single_image image=&#8221;11613&#8243; img_size=&#8221;full&#8221;][vc_column_text]<span style=\"font-weight: 400;\">In the dynamic realm of the automotive industry, the importance of risk management has reached new heights, compelling us to revisit and enhance our insights. Our recently updated white paper, titled <\/span><a target=\"_blank\" href=\"https:\/\/www.qad.com\/documents\/white-papers\/qad-leveraging-risk-management-automotive.pdf?utm_term=erp&amp;utm_source=podcast&amp;utm_medium=prophet&amp;utm_campaign=gl-auto&amp;utm_content=wp\" rel=\"noopener\"><span style=\"font-weight: 400;\">Leveraging Risk Management Throughout the Automotive Supply Chain<\/span><\/a><span style=\"font-weight: 400;\">, represents an evolution of our work from six years ago when we first delved into risk-based thinking within the automotive sector.<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">The Evolution of Risk Management<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">The recent global challenges, including the profound impact of the COVID-19 pandemic and semiconductor crises, have underscored the critical nature of risk management. Businesses today face a complex web of challenges, from material shortages to supply chain disruptions and cyber attacks. Tier 1 suppliers, in particular, navigate heightened risks due to a lack of transparency and control over lower tier <\/span><a target=\"_blank\" href=\"https:\/\/www.qad.com\/blog\/2023\/05\/8-supply-chain-management-best-practices\" rel=\"noopener\"><span style=\"font-weight: 400;\">suppliers<\/span><\/a><span style=\"font-weight: 400;\">.<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">The Call for Proactive Risk Management<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">In response to these challenges, our white paper emphasizes the need for proactive risk management as a cornerstone for intelligent planning. The interconnected nature of risks demands a shift away from siloed approaches to identifying and mitigating risks. Instead, we advocate for a cross-functional approach involving voices from supply chain, purchasing, manufacturing, customer service, business strategy and other relevant internal and external functions to the organization.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Silos can lead to overlooking crucial interrelationships and interfaces, leaving organizations vulnerable to unforeseen challenges. While quality managers often initiate risk assessments, the ultimate responsibility rests with the CEO. Contingency planning should not be delegated to isolated departments; instead, it requires the involvement and oversight of top leadership.<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">Breaking Down Silos and Embracing Cross-Functional Collaboration<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Waiting for a crisis to strike is not an option in the fast-paced automotive industry. Cross-functional teams need regular risk reviews; we recommend quarterly assessments as a best practice to adapt to the industry&#8217;s rapidly changing landscape. Our e-books about <\/span><a target=\"_blank\" href=\"https:\/\/go.qad.com\/PromiseofDelivery.html\" rel=\"noopener\"><span style=\"font-weight: 400;\">Delivering on the Promise of Delivery<\/span><\/a><span style=\"font-weight: 400;\"> provide guidance on how to help your organization to accomplish this and by using our <\/span><a target=\"_blank\" href=\"https:\/\/autosupplychainprophets.com\/episode\/24-essential-processes-to-build-a-foundation-of-supply-chain-management\" rel=\"noopener\"><span style=\"font-weight: 400;\">24 Essential Supply Chain processes<\/span><\/a><span style=\"font-weight: 400;\">.<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">Why Read Our Risk Management White Paper?<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Our white paper offers a comprehensive guide to risk management requirements, contingency planning, risk appetite considerations and solutions for automation. Aligned with industry standards IATF 16949 and <\/span><a target=\"_blank\" href=\"https:\/\/www.qad.com\/blog\/2023\/05\/what-is-new-in-mmogle-version-6\" rel=\"noopener\"><span style=\"font-weight: 400;\">MMOG\/LE<\/span><\/a><span style=\"font-weight: 400;\"> risk requirements, the document provides practical insights and steps for organizations aiming to enhance their risk management strategies and contingency planning.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The white paper caters not only to seasoned managers in quality and supply chain but also to employees who may be new to managing risk. The tangible value of proactive risk management and contingency planning was also discussed in a recent episode on our Auto Supply Chain Prophets <\/span><a target=\"_blank\" href=\"https:\/\/autosupplychainprophets.com\/episode\/the-crucial-role-of-risk-management-in-future-supply-chains\" rel=\"noopener\"><span style=\"font-weight: 400;\">podcast<\/span><\/a><span style=\"font-weight: 400;\">.<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">Avoiding the &#8220;It Will Never Happen to Me&#8221; Mindset<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">One such example highlighted on the podcast demonstrates the tangible value of being prepared for unforeseen events. By completing their MMOG\/LE assessment, a supplier uncovered their vulnerability to power outages and put a contingency plan in place. Two weeks after being awarded Q1 by Ford, they faced a power outage but were ready with backup generation, avoiding customer shutdown and associated penalties.<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">Embracing Risk for Innovation<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Embracing risk management empowers organizations to effectively plan and take action with a clear understanding of potential impacts. As the industry continues to evolve, adopting a proactive approach to risk management is key to ensuring resilience and sustained success.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Don\u2019t forget to download our updated <\/span><a target=\"_blank\" href=\"https:\/\/www.qad.com\/documents\/white-papers\/qad-leveraging-risk-management-automotive.pdf?utm_term=erp&amp;utm_source=podcast&amp;utm_medium=prophet&amp;utm_campaign=gl-auto&amp;utm_content=wp\" rel=\"noopener\"><span style=\"font-weight: 400;\">whitepaper<\/span><\/a><span style=\"font-weight: 400;\"> and listen to our <\/span><a target=\"_blank\" href=\"https:\/\/autosupplychainprophets.com\/episode\/the-crucial-role-of-risk-management-in-future-supply-chains\" rel=\"noopener\"><span style=\"font-weight: 400;\">podcast<\/span><\/a><span style=\"font-weight: 400;\"> episode about managing risk in the automotive supply chain. We also encourage you to watch our <\/span><a target=\"_blank\" href=\"https:\/\/autosupplychainprophets.com\/\" rel=\"noopener\"><span style=\"font-weight: 400;\">Auto Supply Chain Prophets<\/span><\/a><span style=\"font-weight: 400;\"> with bi-monthly podcasts with insightful guests that help you navigate through tomorrow&#8217;s murky waters.<\/span><\/p>\n<p><i><span style=\"font-weight: 400;\">This article was co-written by Cathy Fisher, founder and president of <\/span><\/i><a target=\"_blank\" href=\"https:\/\/quistem.com\/\" rel=\"noopener\"><i><span style=\"font-weight: 400;\">Quistem, LLC.<\/span><\/i><\/a>[\/vc_column_text][\/vc_column][\/vc_row]<\/p>\n","protected":false},"excerpt":{"rendered":"<p>[vc_row][vc_column][vc_single_image image=&#8221;11613&#8243; img_size=&#8221;full&#8221;][vc_column_text]In the dynamic realm of the automotive industry, the importance of risk management has reached new heights, compelling us to revisit and enhance our insights. Our recently updated white paper, titled Leveraging Risk Management Throughout the Automotive Supply Chain, represents an evolution of our work from six years ago when we first delved [&hellip;]<\/p>\n","protected":false},"author":22,"featured_media":11613,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[182,2045],"tags":[1202,1815,2857,2858,412,2103],"class_list":["post-11612","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-featured","category-supply-chain-trends","tag-automotive-supply-chain","tag-contingency-planning","tag-global-challenges","tag-proactive-risk-management","tag-supply-chain-disruptions","tag-supply-chain-processes"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.7 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Embracing Risk-based Thinking: A Practical Guide to Risk Management | QAD Blog<\/title>\n<meta name=\"description\" content=\"In the dynamic realm of the auto industry, the importance of risk management has reached new heights, compelling us to revisit and enhance our insights.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.qad.com\/blog\/2024\/01\/embracing-risk-based-thinking-a-practical-guide-to-risk-management\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Embracing Risk-based Thinking: A Practical Guide to Risk Management | QAD Blog\" \/>\n<meta property=\"og:description\" content=\"In the dynamic realm of the auto industry, the importance of risk management has reached new heights, compelling us to revisit and enhance our insights.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.qad.com\/blog\/2024\/01\/embracing-risk-based-thinking-a-practical-guide-to-risk-management\" \/>\n<meta property=\"og:site_name\" content=\"QAD Blog\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/QADerp\" \/>\n<meta property=\"article:published_time\" content=\"2024-01-18T16:19:59+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-03-13T15:47:21+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.qad.com\/blog\/wp-content\/uploads\/2024\/01\/18_01_2024_B.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"900\" \/>\n\t<meta property=\"og:image:height\" content=\"450\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Terry Onica\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@QAD_Community\" \/>\n<meta name=\"twitter:site\" content=\"@QAD_Community\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Terry Onica\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.qad.com\\\/blog\\\/2024\\\/01\\\/embracing-risk-based-thinking-a-practical-guide-to-risk-management#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.qad.com\\\/blog\\\/2024\\\/01\\\/embracing-risk-based-thinking-a-practical-guide-to-risk-management\"},\"author\":{\"name\":\"Terry Onica\",\"@id\":\"https:\\\/\\\/www.qad.com\\\/blog\\\/#\\\/schema\\\/person\\\/d7e76b2720eec596c0800bf547ada88d\"},\"headline\":\"Embracing Risk-based Thinking: A Practical Guide to Risk Management\",\"datePublished\":\"2024-01-18T16:19:59+00:00\",\"dateModified\":\"2025-03-13T15:47:21+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.qad.com\\\/blog\\\/2024\\\/01\\\/embracing-risk-based-thinking-a-practical-guide-to-risk-management\"},\"wordCount\":627,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\\\/\\\/www.qad.com\\\/blog\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/www.qad.com\\\/blog\\\/2024\\\/01\\\/embracing-risk-based-thinking-a-practical-guide-to-risk-management#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.qad.com\\\/blog\\\/wp-content\\\/uploads\\\/2024\\\/01\\\/18_01_2024_B.jpg\",\"keywords\":[\"automotive supply chain\",\"Contingency planning\",\"Global challenges\",\"Proactive risk management\",\"Supply chain disruptions\",\"Supply chain processes\"],\"articleSection\":[\"Featured\",\"Supply Chain\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.qad.com\\\/blog\\\/2024\\\/01\\\/embracing-risk-based-thinking-a-practical-guide-to-risk-management#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.qad.com\\\/blog\\\/2024\\\/01\\\/embracing-risk-based-thinking-a-practical-guide-to-risk-management\",\"url\":\"https:\\\/\\\/www.qad.com\\\/blog\\\/2024\\\/01\\\/embracing-risk-based-thinking-a-practical-guide-to-risk-management\",\"name\":\"Embracing Risk-based Thinking: A Practical Guide to Risk Management | QAD Blog\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.qad.com\\\/blog\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/www.qad.com\\\/blog\\\/2024\\\/01\\\/embracing-risk-based-thinking-a-practical-guide-to-risk-management#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/www.qad.com\\\/blog\\\/2024\\\/01\\\/embracing-risk-based-thinking-a-practical-guide-to-risk-management#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.qad.com\\\/blog\\\/wp-content\\\/uploads\\\/2024\\\/01\\\/18_01_2024_B.jpg\",\"datePublished\":\"2024-01-18T16:19:59+00:00\",\"dateModified\":\"2025-03-13T15:47:21+00:00\",\"description\":\"In the dynamic realm of the auto industry, the importance of risk management has reached new heights, compelling us to revisit and enhance our insights.\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.qad.com\\\/blog\\\/2024\\\/01\\\/embracing-risk-based-thinking-a-practical-guide-to-risk-management#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.qad.com\\\/blog\\\/2024\\\/01\\\/embracing-risk-based-thinking-a-practical-guide-to-risk-management\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.qad.com\\\/blog\\\/2024\\\/01\\\/embracing-risk-based-thinking-a-practical-guide-to-risk-management#primaryimage\",\"url\":\"https:\\\/\\\/www.qad.com\\\/blog\\\/wp-content\\\/uploads\\\/2024\\\/01\\\/18_01_2024_B.jpg\",\"contentUrl\":\"https:\\\/\\\/www.qad.com\\\/blog\\\/wp-content\\\/uploads\\\/2024\\\/01\\\/18_01_2024_B.jpg\",\"width\":900,\"height\":450,\"caption\":\"risk management, automotive supply chain\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.qad.com\\\/blog\\\/2024\\\/01\\\/embracing-risk-based-thinking-a-practical-guide-to-risk-management#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/www.qad.com\\\/blog\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Embracing Risk-based Thinking: A Practical Guide to Risk Management\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.qad.com\\\/blog\\\/#website\",\"url\":\"https:\\\/\\\/www.qad.com\\\/blog\\\/\",\"name\":\"QAD Blog\",\"description\":\"Next-Generation Manufacturing &amp; Supply Chain Solutions in the Cloud\",\"publisher\":{\"@id\":\"https:\\\/\\\/www.qad.com\\\/blog\\\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/www.qad.com\\\/blog\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\\\/\\\/www.qad.com\\\/blog\\\/#organization\",\"name\":\"QAD\",\"url\":\"https:\\\/\\\/www.qad.com\\\/blog\\\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.qad.com\\\/blog\\\/#\\\/schema\\\/logo\\\/image\\\/\",\"url\":\"\",\"contentUrl\":\"\",\"caption\":\"QAD\"},\"image\":{\"@id\":\"https:\\\/\\\/www.qad.com\\\/blog\\\/#\\\/schema\\\/logo\\\/image\\\/\"},\"sameAs\":[\"https:\\\/\\\/www.facebook.com\\\/QADerp\",\"https:\\\/\\\/x.com\\\/QAD_Community\",\"https:\\\/\\\/instagram.com\\\/qad_erp\\\/\",\"https:\\\/\\\/www.linkedin.com\\\/company\\\/qad\",\"https:\\\/\\\/www.pinterest.com\\\/QADInc\\\/\",\"https:\\\/\\\/www.youtube.com\\\/user\\\/QADIncorporated\\\/\",\"https:\\\/\\\/en.wikipedia.org\\\/wiki\\\/QAD_Inc.\"]},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/www.qad.com\\\/blog\\\/#\\\/schema\\\/person\\\/d7e76b2720eec596c0800bf547ada88d\",\"name\":\"Terry Onica\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.qad.com\\\/blog\\\/wp-content\\\/uploads\\\/2021\\\/08\\\/Terry-Onica_avatar-96x96.jpg\",\"url\":\"https:\\\/\\\/www.qad.com\\\/blog\\\/wp-content\\\/uploads\\\/2021\\\/08\\\/Terry-Onica_avatar-96x96.jpg\",\"contentUrl\":\"https:\\\/\\\/www.qad.com\\\/blog\\\/wp-content\\\/uploads\\\/2021\\\/08\\\/Terry-Onica_avatar-96x96.jpg\",\"caption\":\"Terry Onica\"},\"description\":\"Terry Onica is QAD's automotive vertical director. She lives in the metropolitan Detroit, Michigan area, which is one of the best places in the world you would expect to find someone who is passionate for her industry! In her spare time, she enjoys getting her friends and family to run with her in 5K\\\/10Ks across the USA.\",\"url\":\"https:\\\/\\\/www.qad.com\\\/blog\\\/author\\\/terry\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Embracing Risk-based Thinking: A Practical Guide to Risk Management | QAD Blog","description":"In the dynamic realm of the auto industry, the importance of risk management has reached new heights, compelling us to revisit and enhance our insights.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.qad.com\/blog\/2024\/01\/embracing-risk-based-thinking-a-practical-guide-to-risk-management","og_locale":"en_US","og_type":"article","og_title":"Embracing Risk-based Thinking: A Practical Guide to Risk Management | QAD Blog","og_description":"In the dynamic realm of the auto industry, the importance of risk management has reached new heights, compelling us to revisit and enhance our insights.","og_url":"https:\/\/www.qad.com\/blog\/2024\/01\/embracing-risk-based-thinking-a-practical-guide-to-risk-management","og_site_name":"QAD Blog","article_publisher":"https:\/\/www.facebook.com\/QADerp","article_published_time":"2024-01-18T16:19:59+00:00","article_modified_time":"2025-03-13T15:47:21+00:00","og_image":[{"width":900,"height":450,"url":"https:\/\/www.qad.com\/blog\/wp-content\/uploads\/2024\/01\/18_01_2024_B.jpg","type":"image\/jpeg"}],"author":"Terry Onica","twitter_card":"summary_large_image","twitter_creator":"@QAD_Community","twitter_site":"@QAD_Community","twitter_misc":{"Written by":"Terry Onica","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.qad.com\/blog\/2024\/01\/embracing-risk-based-thinking-a-practical-guide-to-risk-management#article","isPartOf":{"@id":"https:\/\/www.qad.com\/blog\/2024\/01\/embracing-risk-based-thinking-a-practical-guide-to-risk-management"},"author":{"name":"Terry Onica","@id":"https:\/\/www.qad.com\/blog\/#\/schema\/person\/d7e76b2720eec596c0800bf547ada88d"},"headline":"Embracing Risk-based Thinking: A Practical Guide to Risk Management","datePublished":"2024-01-18T16:19:59+00:00","dateModified":"2025-03-13T15:47:21+00:00","mainEntityOfPage":{"@id":"https:\/\/www.qad.com\/blog\/2024\/01\/embracing-risk-based-thinking-a-practical-guide-to-risk-management"},"wordCount":627,"commentCount":0,"publisher":{"@id":"https:\/\/www.qad.com\/blog\/#organization"},"image":{"@id":"https:\/\/www.qad.com\/blog\/2024\/01\/embracing-risk-based-thinking-a-practical-guide-to-risk-management#primaryimage"},"thumbnailUrl":"https:\/\/www.qad.com\/blog\/wp-content\/uploads\/2024\/01\/18_01_2024_B.jpg","keywords":["automotive supply chain","Contingency planning","Global challenges","Proactive risk management","Supply chain disruptions","Supply chain processes"],"articleSection":["Featured","Supply Chain"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.qad.com\/blog\/2024\/01\/embracing-risk-based-thinking-a-practical-guide-to-risk-management#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.qad.com\/blog\/2024\/01\/embracing-risk-based-thinking-a-practical-guide-to-risk-management","url":"https:\/\/www.qad.com\/blog\/2024\/01\/embracing-risk-based-thinking-a-practical-guide-to-risk-management","name":"Embracing Risk-based Thinking: A Practical Guide to Risk Management | QAD Blog","isPartOf":{"@id":"https:\/\/www.qad.com\/blog\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.qad.com\/blog\/2024\/01\/embracing-risk-based-thinking-a-practical-guide-to-risk-management#primaryimage"},"image":{"@id":"https:\/\/www.qad.com\/blog\/2024\/01\/embracing-risk-based-thinking-a-practical-guide-to-risk-management#primaryimage"},"thumbnailUrl":"https:\/\/www.qad.com\/blog\/wp-content\/uploads\/2024\/01\/18_01_2024_B.jpg","datePublished":"2024-01-18T16:19:59+00:00","dateModified":"2025-03-13T15:47:21+00:00","description":"In the dynamic realm of the auto industry, the importance of risk management has reached new heights, compelling us to revisit and enhance our insights.","breadcrumb":{"@id":"https:\/\/www.qad.com\/blog\/2024\/01\/embracing-risk-based-thinking-a-practical-guide-to-risk-management#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.qad.com\/blog\/2024\/01\/embracing-risk-based-thinking-a-practical-guide-to-risk-management"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.qad.com\/blog\/2024\/01\/embracing-risk-based-thinking-a-practical-guide-to-risk-management#primaryimage","url":"https:\/\/www.qad.com\/blog\/wp-content\/uploads\/2024\/01\/18_01_2024_B.jpg","contentUrl":"https:\/\/www.qad.com\/blog\/wp-content\/uploads\/2024\/01\/18_01_2024_B.jpg","width":900,"height":450,"caption":"risk management, automotive supply chain"},{"@type":"BreadcrumbList","@id":"https:\/\/www.qad.com\/blog\/2024\/01\/embracing-risk-based-thinking-a-practical-guide-to-risk-management#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.qad.com\/blog\/"},{"@type":"ListItem","position":2,"name":"Embracing Risk-based Thinking: A Practical Guide to Risk Management"}]},{"@type":"WebSite","@id":"https:\/\/www.qad.com\/blog\/#website","url":"https:\/\/www.qad.com\/blog\/","name":"QAD Blog","description":"Next-Generation Manufacturing &amp; Supply Chain Solutions in the Cloud","publisher":{"@id":"https:\/\/www.qad.com\/blog\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.qad.com\/blog\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/www.qad.com\/blog\/#organization","name":"QAD","url":"https:\/\/www.qad.com\/blog\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.qad.com\/blog\/#\/schema\/logo\/image\/","url":"","contentUrl":"","caption":"QAD"},"image":{"@id":"https:\/\/www.qad.com\/blog\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/QADerp","https:\/\/x.com\/QAD_Community","https:\/\/instagram.com\/qad_erp\/","https:\/\/www.linkedin.com\/company\/qad","https:\/\/www.pinterest.com\/QADInc\/","https:\/\/www.youtube.com\/user\/QADIncorporated\/","https:\/\/en.wikipedia.org\/wiki\/QAD_Inc."]},{"@type":"Person","@id":"https:\/\/www.qad.com\/blog\/#\/schema\/person\/d7e76b2720eec596c0800bf547ada88d","name":"Terry Onica","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.qad.com\/blog\/wp-content\/uploads\/2021\/08\/Terry-Onica_avatar-96x96.jpg","url":"https:\/\/www.qad.com\/blog\/wp-content\/uploads\/2021\/08\/Terry-Onica_avatar-96x96.jpg","contentUrl":"https:\/\/www.qad.com\/blog\/wp-content\/uploads\/2021\/08\/Terry-Onica_avatar-96x96.jpg","caption":"Terry Onica"},"description":"Terry Onica is QAD's automotive vertical director. She lives in the metropolitan Detroit, Michigan area, which is one of the best places in the world you would expect to find someone who is passionate for her industry! In her spare time, she enjoys getting her friends and family to run with her in 5K\/10Ks across the USA.","url":"https:\/\/www.qad.com\/blog\/author\/terry"}]}},"_links":{"self":[{"href":"https:\/\/www.qad.com\/blog\/wp-json\/wp\/v2\/posts\/11612","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.qad.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.qad.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.qad.com\/blog\/wp-json\/wp\/v2\/users\/22"}],"replies":[{"embeddable":true,"href":"https:\/\/www.qad.com\/blog\/wp-json\/wp\/v2\/comments?post=11612"}],"version-history":[{"count":5,"href":"https:\/\/www.qad.com\/blog\/wp-json\/wp\/v2\/posts\/11612\/revisions"}],"predecessor-version":[{"id":12488,"href":"https:\/\/www.qad.com\/blog\/wp-json\/wp\/v2\/posts\/11612\/revisions\/12488"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.qad.com\/blog\/wp-json\/wp\/v2\/media\/11613"}],"wp:attachment":[{"href":"https:\/\/www.qad.com\/blog\/wp-json\/wp\/v2\/media?parent=11612"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.qad.com\/blog\/wp-json\/wp\/v2\/categories?post=11612"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.qad.com\/blog\/wp-json\/wp\/v2\/tags?post=11612"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}