Answer:
scenario planning and scenario analysis.
Explanation:
Planning can be defined as the process of developing organizational objectives and translating them into action plans or courses of action.
This ultimately implies that, planning is a strategic technique used by organizations to make an aggregate plan for its manufacturing (production) process typically ahead of time, in order to have an idea of the level of goods that are to be produced and what resources are required so as to reduce the total cost of production to its barest minimum.
Contingency planning is also known as scenario planning and scenario analysis.
Basically, a contingency planning is a type of plan that is typically designed by a business firm to take into account a possible future circumstance or event based on a forecast.
