Question

Written Assignemnt 250 word minimum

There are many different approaches in the development of a supply chain heat map.

Do an Internet search for different kinds of maps. Choose one and:

Provide the link to it, and List and describe all the components (explain what it is trying to illustrate).

Answer 1

A risk heat map is a tool to present the risks associated with the supply chain in effective way. Heat map can represent the likelihood of occurance of an event with potential risk associated with that event in both qualitative and quantitative terms. In this way the organisations can identify the risk sources, their potential impact and their relative criticality to the situation.

The heat map of supply chain provides a visual, holistic view of the overall picture of supply chain. It helps to improve the management of risk and its governance. By doing so, one can formulate the strategy in lines with the risks and the risk apetite of the organisation. It also helps to intgrate the risk management approach across the organisation, thereby improving the efficiency of risk management process.

Reference : https://www.cgma.org/resources/tools/essential-tools/risk-heat-maps.html