Explanation:
supply chain types: efficient, fast, continuous-flow, agile, custom-configured, and flexible
Answer:
Whether the demand for their product is elastic or inelsatic AND whether they have close competitors
Explanation:
*DEMAND ELASTIC OR INELASTIC*
If the product A&B is selling has close substitutes, the product is likely to be more elastic. This means that even a slight rise in price will shift consumers to the substitutes ( competitor's product) which have lower prices. Moreover if the product takes a larger proportion of people's income, and is a luxury, the price is likey to be elastic. However if the product is inelastic ( the product doesn't have close substitutes), an increase in price will not cause much fall in sales, resulting in the prevention of losses in revenue. By using this knowledge A&B can determine whether or not they can use price skimming or promotional pricing.
*CLOSE COMPETITORS*
If the product that A&B is selling has close competitors, raising the price greater than competitor's prices will result in losses of A&B and it will loose customers to rival businesses. A&B can also decide by observing the quality of rival's products and examine whether they should further increase the quality and set higher prices for their product to create a 'higher quality image'.
Through these observations A&B can decide if competitive pricing or penetration pricing will be suitable for it or not.
your company has developed and implemented countermeasures for the greatest risks to their assets. however, there is still some risk left. The remaining risk is called residual risk
<h3>What is residual risk?</h3>
The residual risk is the risk left for an individual or organization to face after the main danger have been removed.
The effects is usually not as high as the main risk associated to the work.
Learn more on residual risk below
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