Identifying Potential Disruptions and Appropriate Responses Can Be Accomplished by Which

question 101

Multiple Choice

Identifying potential disruptions and appropriate responses can be accomplished by which risk management activity?

• A) Increasing safety stocks/forward buying
• B) Developing a formal risk management program
• C) Diversifying the supply base
• D) Utilizing a supply chain IT system

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Definitions:

Reckless Driving

Operating a vehicle in a dangerous manner that disregards the safety of others, often resulting in legal penalties.

Economically Efficient Outcome

A situation where resources are allocated in a way that maximizes the net benefit to society or minimizes wastage.

Market Demand Curve

Graphical representation of the total quantity of a good or service that all consumers in a market are willing and able to purchase at various prices.