A risk matrix, also called frequency-severity table is used to analyse risks.a. Describe how this matrix is utilised in the analysis of risks.

1) Describe a scenario that you have encountered recently as a consumer where a business has either under forecast or iver forecast demand for a product that you were planning to purchase. You will generally notice under forecasting if the product is out of stock or over forecasting if there is excess inventory for the item. Describe the imolications to the retailer,manufacturer, and broader supply chain. You can present your response through thr lens of your own discpline (accounting,mafketing,etc.) if you wish. 2) Give three examples from your life in which you may forecast the future. Highlight the importance of accurate forecasting in the three examples you provide.

1. Create a risk profile for a particular area of interest. 2. Choose a commodity for which you want to create a risk profile. 3. List five possible risks that could have an impact on the commodity's production capacity. 4. Use a Venn diagram to perform a qualitative risk assessment, indicating the likelihood percentage, category, frequency, severity, and RHC score for each risk identified. 5. Create a risk heat map or chart using the risks from the Venn diagram. 6. Summarize the prioritized areas briefly and offer some recommendations for risk reduction.

What is active and reactive monitoring?

The Hartono Corporation manufactures and sells industrial grinders. The following table presents financial information pertaining to quality in 19-6 and 19-7 (in thousands): 19-7 19-6Sales     $12,500            $10,000    Line inspection     85         110    Scrap                    200         250    Design engineering     240     100    Cost of returned goods     145     60    Product-testing equipment     50     50    Customer support     30     40    Rework costs     135     160    Preventive equipment maintenance     90     35    Product liability claims     100     200    Incoming materials inspection     40     20    Breakdown maintenance     40     90    Product-testing labour     75     220    Training     120     45    Warranty repair     200     300    Supplier evaluation     50     20    REQUIRED:1.      Classify the cost items in the table into prevention, appraisal, internal failure, orexternal failure categories.2.     Calculate the ratio of each COQ category to sales…

CASE STUDYFrom Holiday Inns to the InterContinental Hotels GroupThe history of the Holiday Inn motel chain is one of the great success stories in United States business. Its founder, Kemmons Wilson, while vacationing in the early-1950s, found the motels he stayed in to be small, expensive, and of unpredictable quality. This discovery, along with an unprecedented amount of highway travel due to the new, integrated interstate highway program, triggered a realization: there was an unmet customer need—a gap in the market for quality accommodations. Holiday Inn was founded to meet that need. From the beginning, Holiday Inn set the standard for offering motel features such as air-conditioning and icemakers while keeping room rates reasonable. These amenities enhanced the motels’ popularity, and motel franchising, which was Wilson’s own invention, made rapid expansion possible. By 1960, Holiday Inn hotels could be found in virtually every major city and on every major highway. Before the…

What is it to say that it can lead to better contact between managers for successful variance analysis?

Business Intelligence and Analytics Q : List down the steps in building and using a risk analysis model

What is the role of the POS system in forecasting at HardRock?

What kind of danger is addressed by sensitivity analysis?