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The employment of many suppliers sourcing strategy can be thought of as: 1. risk prioritisation 2. risk mitigation 3. reducing nature risk 4. all of the above reducing nature risk risk prioritisation risk mitigation all of the above - Previous

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The employment of many suppliers sourcing strategy can be thought of as:
1. risk prioritisation
2. risk mitigation
3. reducing nature risk
4. all of the above
reducing nature risk
risk prioritisation
risk mitigation
all of the above
- Previous

The employment of many suppliers sourcing strategy can be thought of as: 1. risk prioritisation 2. risk mitigation 3. reducing nature risk 4. all of the above reducing nature risk risk prioritisation risk mitigation all of the above - Previous

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ZaraMaster · Tutor for 5 years

Answer

'Risk Mitigation'

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## Step1: Understand the question<br />The question is asking us to select the benefits or how the "many suppliers strategy" can be thought of in terms of supply chain management. Let's explain each option individually .<br /><br />## Step2: Evaluate each option <br />1. According to some experts, risk prioritization is making sure most critical risks are addressed first. Having many suppliers could help in this, but the term itself is not that usually associated with the choice of many suppliers.<br />2. Risk mitigation: This strategy of multiple suppliers most commonly recognized for being a strategy to mitigate–limit or control–the amount of risk to which the company is exposed, particularly supply chain risks. If one supplier is unable to deliver, other suppliers can make up for the shortfall.<br />3. Reducing natural risk: Natural risks are unexpected happenings that aren’t dependent on human actions. While having multiple suppliers could help in some natural risks scenarios–like if one producer’s output is hit by a natural disaster another might remain–it certainly doesn’t cover all. What's more the terms isn't one usually associated with employing multiple suppliers<br />4. All of the above: In this question, as we have seen above, the term many suppliers strategy doesn’t relate to‘*risk prioritization*' and 'Reducing Nature Risk' as strongly as it does to ‘Risk Mitigation’.
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