Risk and Uncertainty Consideration in the Practice of Lean Production

Abstract

The purpose of the study is to consider the concepts of "risk" and "uncertainty" in the innovative processes of the enterprise in the practic e of lean production. The objectives of the study are to identify the essence of innovation risks, to consider the conceptual apparatus of risks and decision-making in conditions of uncertainty, to consider the components of uncertainty, to give an example of uncertainty and the behavior of the company in this context. Methodology. In this study the following research methods were used: analysis of theoretical materials, synthesis and generalization of literature, as well as classification, description and comparison. Results. The classification of innovation risks is developed, the differences between such concepts as "risk" and "uncertainty" are considered, the types of uncertainty and the algorithm for assessing innovation risks and uncertainties are studied, the experience of using lean production tools, accompanied by risks and uncertainty, is considered. Conclusions. Implementing lean production in an industrial enterprise can be a challenging task. However, if risks are taken into account and adequately managed, lean production can bring significant benefits in the form of increased efficiency, reduced costs and improved quality of products or services. Uncertainty is an integral part of the innovation sphere of the economy. Companies that competently manage uncertainty and are ready to adapt to changes have a better chance of success in innovation business.