Briefly Describe the Three Primary Risk Mitigation Strategies Based on the Idea

question 79

Essay

Briefly describe the three primary risk mitigation strategies based on the idea of flexibility that supply chain managers can use.

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Definitions:

Feedback Control

A management technique that involves using information about the output of a system to adjust inputs in order to achieve desired levels of performance.

Concurrent Control

refers to management activities that monitor and assess employee activities or work processes in real-time to ensure standards are being met.

Improve Things

Enhancing or making better various aspects, situations, or objects.

Manufacturing Cycle

The sequence of operations or processes involved in producing a product, from raw materials to the final product.