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The use of effective contracts with penalties could reduce which form of supply chain risk?

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The use of effective contracts with penalties could reduce the following forms of supply chain risks:

  • Distribution
  • Logistic delays or damages
  • Supplier failure to deliver

What are supply chain risks?

Supply chain risk management is "the implementation of strategies to manage routine and non-routine risks in the supply chain to reduce vulnerability and ensure continuity based on ongoing risk assessment".

What are effective contracts?

Most contracts only need to contain two elements to be legally effective: the parties must agree (after one party has made an offer and the other has accepted it).

Something of value, such as money, services or goods (or a promise to exchange such goods) must be exchanged for something else of value.

Learn more about Effective Contracts:
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Full Question

The use of effective contracts with penalties could reduce which form of supply chain​ risk?

A. Distribution

B. Logistic delays or damages

C. Supplier failure to deliver

D. All of the above Question:

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