Manufacturing and Transportation

Manufacturing

Manufacturing companies are faced with a range of challenges including numerous regulatory requirements, IT and operational risks, policy violations, product quality issues, environment, health, and safety concerns, and complex supply chains. Isolated initiatives to manage these challenges have often proven to be ineffective, are unable to scale and costly.

The global economic crisis proved that many businesses did not take a strategic and coordinated approach to risk management. Coming out of the crisis, organizations are pressured to be more proactive and rigorous in how they manage risks and to provide assurance to internal and external stakeholders about their risk management effectiveness. Companies that can clearly articulate and quantify the risks they face and their likely impact on performance will ultimately make better business decisions. A comprehensive Governance, Risk, and Compliance (GRC) approach, enabled by technology, can drive new compliance and performance capabilities, and new organizational resilience.

Governance, Risk, and Compliance (GRC) services help clients develop a wide-ranging vision and approach for their organizations’ multiple governance, risk, and compliance processes. The key focus is to help improve the sustainability, effectiveness, efficiency, and transparency for GRC processes; align the processes with the organization’s strategic goals and objectives, and drive both competitive advantage and shareholder value.

The Challenges

Nearly every type of manufacturer faces increasing regulations aimed at everything from ensuring product safety to managing disposal and reclamation procedures. While many regulations may be beneficial to consumers, each regulation adds an additional burden to the companies that must comply with the requirements, which often differ from country to country.
Manufacturers must ensure they have complete visibility into global supply chains so they can prove not only their own compliance but also that of their suppliers. Regulations often require the ability to track where specific items have been used or to trace materials from an end-item at a customer site back to specific materials used in its manufacture.
Keeping abreast of regulations and managing compliance reporting is often a full-time activity for multiple people or teams at many manufacturing companies.

Our Solution

Predict360 software enables organizations to track changing regulatory requirements and update all compliance-related activities and documents accordingly. With its unique mapping abilities and use of artificial intelligence, Predict360 automates the process of determining the effects of the changed requirements. Predict360 is a cloud-based application offering regulations and requirements fully integrated with audits and inspections, incident and case management, policies and procedures, qualifications and learning management solution.

Key Features

Protects and enhances business value by fostering a risk-aware culture, supporting informed decision making, and addressing multiple compliance and assurance layers
Enhances operational efficiency by rationalizing risk management, controls, and assurance structures and processes, and intelligent use of IT and data management structures
Enables the organization to quickly, consistently, and efficiently respond to challenges provided by evolving risk profiles and rapidly changing regulatory requirements
Enables a company to meet compliance objectives while improving performance by using an integrated framework in support of its strategic objectives

Transportation

The transportation industry will face new and emerging challenges in the future, which may dramatically reshape transportation priorities and needs. These challenges may derive from the impacts of major global trends, such as climate change, varying regulations based on transportation method and country, changes in the cost of fuels, and new technology, and from domestic trends, such as changing demographics and lifestyle expectations, changes in land use patterns, and limitations in current transportation finance methods.

The Challenges

Newer proposed regulatory changes could constrain capacity more. For example, the EPA (Environmental Protection Agency) and the NHTSA (National Highway Traffic Safety Administration) released new standards. The standards aim to reduce greenhouse gas emissions and fuel consumption for Class 8 trucks by ~29%. This drives the need for tighter compliance and reporting and improved operational efficiency.
The greatest threat to freight transportation safety is operator fatigue. This human factor is a prevalent risk across most major modes. The problem is so significant that the National Transportation Safety Board has identified the need to reduce accidents and incidents caused by marine, aviation, and pipeline operator fatigue.
Ports of entry (airports, seaports) and border crossings are vulnerable points in the transportation network where heightened security is essential. This has led the Transportation Security Administration (TSA) to inspect all cargo traveling on passenger planes and use a risk-based screening process for inspecting commodities moving on air cargo carriers.

Our Solution

Key Features

Protects and enhances business value by fostering a risk-aware culture, supporting informed decision making, and addressing multiple compliance and assurance layers
Enhances operational efficiency by rationalizing risk management, controls, and assurance structures and processes, and intelligent use of IT and data management structures
Enables the organization to quickly, consistently, and efficiently respond to challenges provided by evolving risk profiles and rapidly changing regulatory requirements
Enables a company to meet compliance objectives while improving performance by using an integrated framework in support of its strategic objectives