I don't want to use the FMEA method because that would be another form to have to keep up with. We only manufacture 1 product which is part of a gun but we do buy the rest of the parts to fully assemble the bolt carrier according to what our customers. I know the risk since I have been working on the project for 10 years. I just can't figure the best route to take to address the risk. Any suggestions?
FMEA is definitely not necessary, and even if you use it, it wont cover the entire scope of QMS since it is mostly applicable to production and design processes and fails to cover risks arising from the external context. It is meant for companies that have complex processes and products and it is crucial for them to cover all risks emerging from the processes.
In your case, FMEA would be redundant and I would avoid using it. You can conduct SWOT analysis or arrange a brainstorming session with relevant people in the company and make a list of risks and opportunities to be addressed and then plan actions to address those risks. In the Procedure for Addressing Risks and Opportunities, you can just delete the reference to the FMEA and use only the procedure.
If you are producing parts for an IATF-certified customer, your customer may request FMEA from you. Normally, it is not a subject required by the ISO 9001 standard. You can get training support for FMEA, or you can request a deviation from your customer in this regard.