The Final Step in Crisis Management Is

question 38

Multiple Choice

The final step in crisis management is:

• A) seeking support from family and friends.
• B) resolving the crisis.
• C) examining your emotions.
• D) redefining the situation.

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Definitions:

Order Lead Time

The time duration from placing an order to receiving the order, crucial in inventory management and customer satisfaction.

Stockout Risks

The potential for inventory shortages that can result in lost sales, customer dissatisfaction, and negative impacts on a business's reputation and income.

EOQ

Economic Order Quantity, a formula used in inventory management to determine the optimal order size that minimizes total inventory costs.

Safety Stock

Additional inventory kept in reserve to protect against stockouts due to variability in demand or supply.