_____ is the process of identifying potential negative events, assessing the likelihood of their occurrence, heading off these events before they occur or reducing the probability that they will occur, and making contingency plans to mitigate the consequences if they do occur.
A)Supplier selection
B)Supplier evaluation
C)Supplier categorization
D)Global sourcing
E)Risk management

Question

Quizplus · Accepted Answer

The process described in the question is known as risk management. It involves identifying potential negative events, assessing the likelihood of their occurrence, taking steps to prevent or reduce the likelihood of their occurrence, and developing contingency plans to mitigate the impact if they do occur. This is an essential activity for any organization that wants to minimize the impact of potential risks on their operations, finances, and reputation.

_____ Is the Process of Identifying Potential Negative Events, Assessing