Final answer:
Tapered Integration, also known as Concurrent Sourcing, is a business strategy that involves gradually reducing dependence on a single supplier.
Step-by-step explanation:
Tapered Integration, also known as Concurrent Sourcing, is a business strategy that involves gradually reducing dependence on a single supplier or country for the procurement of goods and services. Instead, multiple suppliers or countries are utilized simultaneously to mitigate risks and ensure a stable supply chain.
For example, if a company heavily relies on a single supplier from a specific country and that supplier experiences a disruption in their operations, the company's supply chain could be severely affected. However, with tapered integration.
The company would already have alternative suppliers from different countries in place, reducing the impact of such disruptions. Overall, tapered integration is a strategic approach that enables businesses to enhance supply chain resilience and optimize sourcing activities.