The Supply Chain Refers to the Sequence of Business Functions

question 102

True/False

The supply chain refers to the sequence of business functions in which customer usefulness is added to products or services.

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Definitions:

Mitigate Damages

A legal principle requiring a party suffering loss to take reasonable action to minimize the extent of the damage resulting from a breach of contract or tort.

Consequential Damages

Refers to damages that are not directly caused by a breach of contract but result from the particular circumstances of the plaintiff.

Breach of Contract

Occurs when one party in a contract fails to fulfill their obligations as per the agreement, thus violating the contract.

Consequential Damages

Indirect losses or damages that result from a breach of contract, not directly caused by the breach but a consequence of it.