Question: 1. Explain the term value added and how it applies within the world of operations management? 2. From a managerial perspective, lowest cost might not

1. Explain the term value added and how it applies within the world of operations management?

2. From a managerial perspective, lowest cost might not always be the best option. From a strategic perspective, discuss both modes of transportation for a shipment such as this (air only versus the ocean and road option). Your response should be based on a comprehensive risk analysis of both of these alternatives (consider all factors that might be critical to making a decision).

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