“Bullet-proof” and lean: Is it possible?
In managing the business relationships that flow downstream to the customer, companies are honing their risk management practices to reduce vulnerability and bolster continuity. Battling risk, however, often leads to built-in redundancies and other measures that run counter to lean principles. How, then, can an organization with a legacy of lean, robust processes reduce its risk profile without turning back the clock on progress?
Join the Center for Operational Excellence next Thursday, March 12, in Pfahl Hall for an all-day forum, Running the Risk: The Future of Supply Chain Excellence, that features leaders from two global organizations. Kicking off the event is Patrick Sample (pictured, right), manager of SCD planning, supply chain – materials, at GE Aviation. Sample will be co-presenting with award-winning supply chain researcher and professor Tom Goldsby on their progress in balancing these two crucial priorities at the $22 billion-a-year company.
GE Aviation is the second-largest subsidiary of conglomerate General Electric, a $22 billion-a-year business that is one of the world’s leading makers of jet engines and related services. The company has operations on four continents around the world, which link to a massive supply chain network.
GE Aviation has proven progressive in tracing its supply chains all the way back to raw material extraction. In doing so, it uncovered a dependency on rare-earth minerals sourced almost entirely in China and has since sought to “engineer out” these materials in their engine components. The division also leads the way in the adoption of additive manufacturing techniques using 3-D printers for critical engine parts. By the year 2020, GE Aviation expects to produce more than 100,000 parts through these innovative manufacturing techniques. The company has taken these measures against the backdrop of their operational excellence heritage, rich in lean and six sigma practices.
Also featured is Elizabeth VanBodegraven, director of global procurement for the Logistics North America organization of chemical maker Momentive. VanBodegraven, drawing upon her two decades in procurement and supply chain roles, will be examining a crucial question companies face today: Whether the cost of risk management truly exceeds running the risk.
In addition to the dual keynotes, Running the Risk will feature a networking lunch; an interactive, group-based scenario that explores balancing risk management in operations; and a wrap-up panel discussion.
This members-only event, registration for which is available now, is a “must” for any individual or team interested in what place risk management has in the future of operational excellence.
- 8:30 a.m. – Registration opens
- 9 a.m. – Presentation: Patrick Sample, GE Aviation; and Tom Goldsby, Fisher College of Business
- 10:15 a.m. – Networking break
- 10:30 a.m. – Presentation: Risk Management’s Cost: More Than Running the Risk?, Elizabeth VanBodegraven, Momentive
- 11:45 a.m. – Lunch
- 1 p.m. – Interactive, group-based risk management scenarios
- 2:30 p.m. – Panel discussion
- 3:30 p.m. – Event concludes