Studies from University of Wisconsin Add New Findings in the Area of Risk Management (Import Security: Assessing the Risks of Imported Food)

By a News Reporter-Staff News Editor at Insurance Weekly News -- New research on Risk Management is the subject of a report. According to news reporting originating in Madison, Wisconsin, by VerticalNews journalists, research stated, "We use data on food import violations from the FDA Operational and Administrative System for Import Support (OASIS) to address rising concerns associated with imported food, quantify import risks by product and by country of origin, and explore the usefulness of OASIS data for risk assessment."

Financial support for this research came from National Science Foundation.

The news reporters obtained a quote from the research from the University of Wisconsin, "In particular, we assess whether there are significant trends in violations, whether import violations can be used to quantify risks by country and by product, and how import risks depend on economic factors of the country of origin. The results show that normalizing import violations by volume of imports provides a meaningful indicator of risk."

According to the news reporters, the research concluded: "We then use regression analysis to characterize import risks.? Using this model, we analyze import risks by product type, violation type, and economic factors of the country of origin.? We find that OASIS data are useful in quantifying food import risks, and that the rate of refusals provides a useful decision tool for risk management. ?Furthermore, we find that some economic factors are significant indicators of food import risk by country."

For more information on this research see: Import Security: Assessing the Risks of Imported Food. Risk Analysis, 2016;36(11):2047-2064. (Wiley-Blackwell - www.wiley.com/; Risk Analysis - onlinelibrary.wiley.com/journal/10.1111/(ISSN)1539-6924)

Our news correspondents report that additional information may be obtained by contacting J. Welburn, Dept. of Industrial & Systems Engineering, University of Wisconsin-Madison, Madison, WI, United States. Additional authors for this research include V. Bier and S. Hoerning.

Keywords for this news article include: Madison, Wisconsin, United States, Risk Management, North and Central America.

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