New Αpplication of FMEA Αnalysis in the Ηeavy Ιndustry Supply Chain

Purpose: The purpose of the publication is to indicate the validity of building industry supply chains and to present a modified FMEA analysis for the heavy industry supply chain. Approach/Methodology/Design: The research was carried out with reference to companies operating in the heavy metal industry between 2016 and 2020 on a European scale. The presented results concern one aspect of the conducted research related to the identification of key areas and determinants shaping industry supply chains. Findings: The results obtained determine the specificity of the heavy industry supply chain, where social and societal aspects had the greatest impact on industry supply chains, mainly related to the lack of qualified staff, the increase in labour costs and social benefits and the need to meet staffing needs with foreign human resources. Practical Implications: The relationships of companies operating in the heavy industry sector, the specifics of the supply chain and the risk factors affecting the companies in question are examined, as well as relating the risk elements to the heavy industry sector. Originality/Value: The article contains important determinants for the development of the heavy industry explained along with the presentation of an innovative method combining FMEA analysis with the emergence of determinants shaping the industry.