Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Scenario As a Food inspector you have identified a potential business issue where the inventory of raw material for production is very low and may

Scenario As a Food inspector you have identified a potential business issue where the inventory of raw material for production is very low and may not last for one working day. There is a risk that an unplanned roadblock delays the transport of raw material to the production facility, which will throw the production cycle out of gear since the organisation do not have adequate stock of material available. As per the risk management plan, this risk is likely to occur given the region the organisation operates in. The impact is identified as severe, and as per the risk rating matrix of the organisation, the risk rating is calculated as Critical. Therefore, your first course of action is obvious, and you must rectify the issue at the soonest. A sample risk rating register and matrix is shown below: 1. Based on the given scenario to rectify the issue, what actions can be determined for preferred course of action to be the higher inventory solution. Please develop one risk management plan for the issues identified. Risk management plan may include: o Identify and assess at least two risks to decision-making including, at least: Risk probability Risk impact The control measure for

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Hospitality An Introduction

Authors: Robert A Brymer, Misty M Johanson

14th Edition

0757588638, 9780757588631

More Books

Students also viewed these General Management questions

Question

In your opinion, who should define normal versus abnormal behavior?

Answered: 1 week ago