A potential backup supplier who can make up an emergency shortfall in materials is needed. Having this supplier in place before the shortage occurs is known as _____ planning.

Question

Quizplus · Accepted Answer

Contingency planning involves creating a plan of action to address unexpected events or circumstances that may disrupt a business operation. Identifying and establishing backup suppliers in case of emergency material shortfall is an example of contingency planning.

A Potential Backup Supplier Who Can Make Up an Emergency