A risk management framework for new product development: A case study

• Main Authors: Kasemset C., Wannagoat J., Wattanutchariya W., Tippayawong K.
• Format: Article
• Published: 2015
• Online Access: http://www.scopus.com/inward/record.url?partnerID=HzOxMe3b&scp=84923306129&origin=inward; http://cmuir.cmu.ac.th/handle/6653943832/39107
• Institution: Chiang Mai University

© 2014 KIIE. This research designed and implemented a supply chain risk management platform and applied it to a case study of reduced-fat Lanna pork sausage as a new product development project. The proposed framework has three stages: risk identification, risk assessment, and risk mitigation. Seventeen risk agents with 17 risk events were identified based on SWOT analysis and the Porter Five Forces concept through the process of planning, sourcing, making and delivering, partially captured from the supply chain operations reference model in the first stage. In the second stage, an house of risk (HOR) framework was applied to present the impacts of each risk agent. In the third stage, eight risk agents with high impact were selected to design 21 preventive actions. Finally, three preventive actions with the highest effectiveness to difficulty ratio scores-'sales evaluation of familiar products', 'increasing distribution channels and promotions to improve sales', and 'work flow improvement for work safety'-were then recommended for this new product development.