Question: A retail chain is implementing Lean principles in its inventory management. Requirements: Determine the Lead Time for restocking inventory based on recent data: Order processing

  • A retail chain is implementing Lean principles in its inventory management.
  • Requirements:
    • Determine the Lead Time for restocking inventory based on recent data: Order processing time is 1 day, shipping time is 2 days, and receiving time is 0.5 days.
    • Recommend improvements to reduce Lead Time.
    • Explain how reducing Lead Time aligns with Lean principles in retail operations.

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