Cost of an Accident II: Shut Down of the Auto Industry?
A chemical factory explosion in Germany has the auto industry on edge. The Wall Street Journal reported that a critical component in auto brake and fuel lines, Nylon 12, was only produced by a single plant … the one that blew up. See the story here:
In this age of “Just-In-Time” inventory control, an unexpected production outage caused by a serious accident can not only be a serious event to the company involved, but also to the companies they supply.
This, the cost of this accident could be devastating to the auto industry and even the global economy.
Add this accident to the list of reasons why your company needs advanced root cause analysis (TapRooT®) both for reactive and proactive improvement of performance. Companies just can’t afford fires, explosions, and unexpected outages.