_________________Is the Process of Reducing or Managing Risk

question 22

Short Answer

_________________is the process of reducing or managing risk.

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Definitions:

Supply Base

The network of suppliers from which a company procures its goods, services, and materials.

Competitiveness

The ability of a company, country, or product to compete effectively and successfully in the market.

Purchased Materials

Goods and components bought from external suppliers for use in manufacturing processes or for resale.

Commodity Manager

A professional responsible for procuring raw materials, goods, or services in a specific commodity area, often focusing on strategy, supplier selection, and price negotiation.