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Anticipating, smoothing, and rationing are strategies used to manage variability in supply chains, focusing on ensuring consistent performance. Anticipating involves predicting future demand to prepare resources accordingly, while smoothing aims to level out fluctuations in production or supply. Rationing, on the other hand, is used to allocate limited resources effectively during shortages. Buffering serves as a complementary strategy by maintaining excess inventory or capacity, providing a cushion against uncertainties and enabling smoother operations despite potential disruptions in supply or demand.

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