logistical complexities

What Strategies Can Entrepreneurs Use to Manage Supply Chain Risks?

Effective supply chain risk management strategies include:
Diversifying Suppliers: Avoid relying on a single supplier to reduce risk.
Building Strong Relationships: Develop strong relationships with suppliers to ensure better collaboration and reliability.
Inventory Buffering: Maintain safety stock to cushion against supply chain disruptions.
Regular Audits: Conduct regular audits of supply chain processes to identify and mitigate risks.
Risk Assessment: Continuously assess potential risks and develop contingency plans.

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