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Vanshaj, has to bear the losses in his business as he could not achieve the target of completing his order of supplying 500 goods to his customer because his raw material supplier did not supply the Raw material on time. Which of the following factor is responsible for the loss borne by Vanshaj?
- a)Technological factors
- b)Physical factors
- c)Human factors
- d)External factors
Correct answer is option 'C'. Can you explain this answer?
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Vanshaj, has to bear the losses in his business as he could not achiev...
Factors responsible for the loss borne by Vanshaj in his business are:
c) Human factors
Human factors refer to the actions or decisions made by individuals that can impact the outcome of a situation. In this case, Vanshaj's inability to achieve the target of completing his order of supplying 500 goods can be attributed to the actions of his raw material supplier, who did not supply the raw material on time. Let's discuss how human factors contribute to the loss borne by Vanshaj in more detail.
1. Dependence on the raw material supplier:
- Vanshaj relied on the raw material supplier to provide the necessary materials to complete the order.
- The supplier's failure to deliver the raw material on time disrupted Vanshaj's production process, leading to a delay in fulfilling the order.
2. Lack of communication or coordination:
- There may have been a breakdown in communication or coordination between Vanshaj and the raw material supplier.
- If Vanshaj did not communicate his requirements clearly or the supplier failed to understand the urgency of the situation, it could have resulted in a delay in the delivery of the raw materials.
3. Inadequate contingency planning:
- Vanshaj may not have had a backup plan in place to deal with such situations.
- A lack of alternative suppliers or contingency measures to ensure a continuous flow of raw materials can leave a business vulnerable to disruptions and losses.
4. Failure to monitor or evaluate supplier performance:
- Vanshaj might not have monitored or evaluated the performance of his raw material supplier regularly.
- Regular assessment of supplier performance can help identify potential issues or red flags early on and take corrective actions to prevent disruptions in the supply chain.
5. Impact on customer satisfaction and reputation:
- The failure to complete the order on time can lead to dissatisfied customers and damage Vanshaj's reputation.
- Customers may lose trust in Vanshaj's ability to deliver as promised, which can result in the loss of future business opportunities.
In conclusion, human factors, such as dependence on a supplier, lack of communication, inadequate contingency planning, failure to monitor supplier performance, and the subsequent impact on customer satisfaction, are responsible for the loss borne by Vanshaj in his business. It is crucial for businesses to effectively manage and mitigate human factors to minimize the risks associated with disruptions in the supply chain.
c) Human factors
Human factors refer to the actions or decisions made by individuals that can impact the outcome of a situation. In this case, Vanshaj's inability to achieve the target of completing his order of supplying 500 goods can be attributed to the actions of his raw material supplier, who did not supply the raw material on time. Let's discuss how human factors contribute to the loss borne by Vanshaj in more detail.
1. Dependence on the raw material supplier:
- Vanshaj relied on the raw material supplier to provide the necessary materials to complete the order.
- The supplier's failure to deliver the raw material on time disrupted Vanshaj's production process, leading to a delay in fulfilling the order.
2. Lack of communication or coordination:
- There may have been a breakdown in communication or coordination between Vanshaj and the raw material supplier.
- If Vanshaj did not communicate his requirements clearly or the supplier failed to understand the urgency of the situation, it could have resulted in a delay in the delivery of the raw materials.
3. Inadequate contingency planning:
- Vanshaj may not have had a backup plan in place to deal with such situations.
- A lack of alternative suppliers or contingency measures to ensure a continuous flow of raw materials can leave a business vulnerable to disruptions and losses.
4. Failure to monitor or evaluate supplier performance:
- Vanshaj might not have monitored or evaluated the performance of his raw material supplier regularly.
- Regular assessment of supplier performance can help identify potential issues or red flags early on and take corrective actions to prevent disruptions in the supply chain.
5. Impact on customer satisfaction and reputation:
- The failure to complete the order on time can lead to dissatisfied customers and damage Vanshaj's reputation.
- Customers may lose trust in Vanshaj's ability to deliver as promised, which can result in the loss of future business opportunities.
In conclusion, human factors, such as dependence on a supplier, lack of communication, inadequate contingency planning, failure to monitor supplier performance, and the subsequent impact on customer satisfaction, are responsible for the loss borne by Vanshaj in his business. It is crucial for businesses to effectively manage and mitigate human factors to minimize the risks associated with disruptions in the supply chain.
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Vanshaj, has to bear the losses in his business as he could not achieve the target of completing his order of supplying 500 goods to his customer because his raw material supplier did not supply the Raw material on time. Which of the following factor is responsible for the loss borne by Vanshaj?a)Technological factorsb)Physical factorsc)Human factorsd)External factorsCorrect answer is option 'C'. Can you explain this answer?
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Vanshaj, has to bear the losses in his business as he could not achieve the target of completing his order of supplying 500 goods to his customer because his raw material supplier did not supply the Raw material on time. Which of the following factor is responsible for the loss borne by Vanshaj?a)Technological factorsb)Physical factorsc)Human factorsd)External factorsCorrect answer is option 'C'. Can you explain this answer? for Commerce 2024 is part of Commerce preparation. The Question and answers have been prepared according to the Commerce exam syllabus. Information about Vanshaj, has to bear the losses in his business as he could not achieve the target of completing his order of supplying 500 goods to his customer because his raw material supplier did not supply the Raw material on time. Which of the following factor is responsible for the loss borne by Vanshaj?a)Technological factorsb)Physical factorsc)Human factorsd)External factorsCorrect answer is option 'C'. Can you explain this answer? covers all topics & solutions for Commerce 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Vanshaj, has to bear the losses in his business as he could not achieve the target of completing his order of supplying 500 goods to his customer because his raw material supplier did not supply the Raw material on time. Which of the following factor is responsible for the loss borne by Vanshaj?a)Technological factorsb)Physical factorsc)Human factorsd)External factorsCorrect answer is option 'C'. Can you explain this answer?.
Vanshaj, has to bear the losses in his business as he could not achieve the target of completing his order of supplying 500 goods to his customer because his raw material supplier did not supply the Raw material on time. Which of the following factor is responsible for the loss borne by Vanshaj?a)Technological factorsb)Physical factorsc)Human factorsd)External factorsCorrect answer is option 'C'. Can you explain this answer? for Commerce 2024 is part of Commerce preparation. The Question and answers have been prepared according to the Commerce exam syllabus. Information about Vanshaj, has to bear the losses in his business as he could not achieve the target of completing his order of supplying 500 goods to his customer because his raw material supplier did not supply the Raw material on time. Which of the following factor is responsible for the loss borne by Vanshaj?a)Technological factorsb)Physical factorsc)Human factorsd)External factorsCorrect answer is option 'C'. Can you explain this answer? covers all topics & solutions for Commerce 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Vanshaj, has to bear the losses in his business as he could not achieve the target of completing his order of supplying 500 goods to his customer because his raw material supplier did not supply the Raw material on time. Which of the following factor is responsible for the loss borne by Vanshaj?a)Technological factorsb)Physical factorsc)Human factorsd)External factorsCorrect answer is option 'C'. Can you explain this answer?.
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