Firms Often Use Multiple Suppliers for Important Components to Mitigate

question 45

True/False

Firms often use multiple suppliers for important components to mitigate the risks of total supply disruption.

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Definitions:

Corrective Tool Checklist

A list of items or actions used to address problems or errors found in a product, system, or process.

Generic Business Strategy

A strategy that can be adopted by any firm, regardless of the product or industry involved, to achieve a competitive advantage.

Competitive Advantage

The edge a business has over its competitors, allowing it to generate greater sales or margins and/or retain more customers.

Marketing Efficiencies

Strategies or actions that maximize the effectiveness of marketing efforts with the least amount of waste in resources.