A logistics manager is developing a supply chain risk management plan incorporating contingency plans for alternatives to transport failures. Which of the following factors best represents this approach?
A logistics manager is developing a supply chain risk management plan incorporating contingency plans for alternatives to transport failures. Which of the following factors best represents this approach?
Mitigation is the correct approach for a logistics manager developing a supply chain risk management plan incorporating contingency plans for alternatives to transport failures. Mitigation involves taking steps to reduce the severity or likelihood of a risk. In this context, it encompasses creating backup plans or alternative routes, which directly addresses the risk of transport failures.
D. Redundancy
Avoid. The Dictionary defines risk avoidance as “changing a plan to eliminate a risk or to protect plan objectives from its impact.” For an opportunity, this step is called “exploit” (i.e., go all in)
Can't open a comment on question 87. Do you agree with the answer?
Agree C
The answer is C. One risk mitigation technique is to incorporate redundant suppliers/carriers.