Back in December 2019, many retailers were forced to re-evaluate their vendor relationships because many of their suppliers and manufacturers were based in China, which was, at the time, the epicenter of the COVID-19 outbreak. With a significantly reduced workforce, retailers struggled to process and get shipments out on time, and there were questions of whether certain shipments would need to undergo quarantine before they could be delivered. As a result, some retailers decided to move from a single-sourcing to a multi-sourcing model, which would provide them with a contingency plan should their primary supplier become unavailable. This is an example of which risk management strategy? Supplier monitoring Supplier selection Supplier segmentation Contracting

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The situation described where retailers faced challenges due to disruptions in the supply ch... View the full answer