These Are Supply Chains That Utilize Strategies Aimed at Creating

question 28

Multiple Choice

These are supply chains that utilize strategies aimed at creating the lowest cost.

• A) Efficient supply chains
• B) Risk-hedging supply chains
• C) Responsive supply chains
• D) Agile supply chains
• E) Vendor-managed supply chains

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Definitions:

Doctrine of Mistake

A principle in contract law that allows a contract to be nullified if both parties entered into the agreement with a mutual understanding that was fundamentally flawed or incorrect.

Willful Blindness

The deliberate act of avoiding acquiring certain knowledge of a fact, particularly to circumvent legal liability.

Illegal

Illegal refers to actions or activities that are prohibited by law and subject to penalties.

Breach of Contract

Occurs when one party to a contractual agreement fails to fulfill their obligations under the contract, leading to possible legal action.