The strategy that can be used to help manage global risks is D. Flexibility.
Explanation:
Flexibility in a supply chain allows companies to adapt to changing market conditions, disruptions, and unforeseen events. This includes the ability to adjust production volumes, sourcing locations, or product designs quickly. It also means having the capacity to shift resources between different products or markets as needed. This adaptability is crucial for mitigating risks associated with global uncertainties, such as geopolitical instability, natural disasters, or economic fluctuations.
Mass customization can be used to help manage global risks:
Reduced variability:
Mass customization allows for a base product to be used globally with minimal customizations, which can help manage risks associated with changing market demands or local regulations.
Flexibility:
By allowing for some degree of customization, mass customization can provide greater flexibility in adapting to unforeseen circumstances.
Mass customization allows companies to produce goods tailored to individual customer preferences. While this can offer advantages in terms of customer satisfaction and reducing waste, it doesn't necessarily enhance flexibility in the face of external risks. For instance, if there's a sudden shift in consumer preferences, a company with a highly customized production line might struggle to adapt quickly.
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