List Two Ways a Risk Adverse Person May Attempt to Reduce

question 38

Essay

List two ways a risk adverse person may attempt to reduce risks.

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Definitions:

On-Time Delivery

The process of delivering goods or services to customers at the promised or scheduled time without delays.

Supply Chain Management

The administration of the flow of goods and services, involving the movement and storage of raw materials, of work-in-process inventory, and of finished goods from point of origin to point of consumption.

Supply Chain Strategy

A plan for managing all the steps necessary to produce and deliver products or services to customers, from sourcing raw materials to the final delivery.

Distribution Channels

The chain of businesses or intermediaries through which a good or service passes until it reaches the end consumer.