THE RELATIONSHIP OF ORGANIZATIONAL QUALITY MANAGEMENT PRACTICE WITH SUPPLY CHAIN RISK MANAGEMENT PROGRAM MATURITY

Abstract

Various companies covering a wide variety of industries are ISO certified. Because ISO is intended to unify and improve business practices as a whole, the question raises itself: Are companies who are ISO certified better equipped to handle risk? Companies using ISO 9000 and ISO 31000, specifically, are the top candidates to potentially be best equipped to handle any issues pertaining to risk. Researching companies who have ISO certifications and how their business has improved since implementing ISO standards can help us to better understand if these standardizations actually assist in protecting a company’s assets, operations, and its structure. Companies who do not use standards of quality certifications will also be assessed to see how they efficiently there business runs and how they handle risk. This research will assist in verifying the following statement: A company's use of standardized quality certifications, specifically International Standard of Organization certifications, ensure a high level of risk aversion and correction through more efficient business standards and practices when implemented compared to the level of risk management of companies who do not implement these certifications.