Backup types financial definition of Backup types
contingency plan (redirected from Backup types)
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contingency plan tactics which would be adopted in the event of a firm's original plans being thwarted. It is important for a BUSINESS to establish contingency plans so that they have a fall-back position. If, for example, a key component supplier is unable to deliver on time, the firm should have alternative suppliers lined up to avoid excessive disruption to its own production process.