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BT_GRABER_Caroline_2024.pdf
Bachelor thesis

Integration of ISO 9001 and internal control systems for commodity trading companies

  • Genève : Haute école de gestion de Genève

47 p.

Bachelor of Science HES-SO in International Business Management: Haute école de gestion de Genève, 2024

English Commodity trading companies operate in a sector heavily regulated by many standards and laws. To respond to these requirements, companies often implement various systems. Maintaining and updating them is not an easy task. Most commodity trading companies must have an internal control system in place and many of them are ISO 9001 certified. To date, most companies manage these systems separately while they have a lot in common.
This research explores the potential areas of integration between an ISO 9001 quality management system and an internal control system for commodity trading companies. It describes the elements that companies implement to respond to the different requirements of ISO 9001 and internal control. A comparative analysis is presented to outline the tasks that are common for both systems. Even though many aspects are common, significant differences have been discovered on whether or not to integrate the systems, depending on each company’s specific activities, size, and goal.
The primary focus of large commodity trading companies is not inherently tied to quality management systems. Their focus is more related to ensuring robust internal controls and integrity of financial flows. Given the complex systems involved in this kind of firm, keeping systems partially integrated but well-coordinated would be more effective than full integration. The research describes which aspects should be managed on a common approach. Different examples of the industry are presented to support the findings, making this research as practical as possible.
As for companies where quality and compliance are tightly linked, an ISO 9001 and internal control integrated management system could streamline operations, improve efficiency, and reduce management costs. It mainly concerns smaller commodity trading companies, where full integration should be considered. In that case, using specific tools to support the integration could be even more beneficial.
Finally, it explores the costs associated with such an integration compared to the benefits and increase in efficiency it would provide. Many hours could be saved yearly on specific tasks. The study details the different challenges associated with non-integration as well.
Overall, this report provides practical insights and recommendations for commodity trading companies aiming to optimize their management systems and enhance their operational efficiency.
Language
  • English
Classification
Economics
Notes
  • Haute école de gestion Genève
  • International Business Management
  • hesso:hegge
Persistent URL
https://sonar.ch/hesso/documents/330830
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