Question: A retail chain is implementing Lean principles to optimize inventory management. Requirements: Calculate the Inventory Turnover Ratio for a store that had $2,000,000 in sales

  • A retail chain is implementing Lean principles to optimize inventory management.
  • Requirements:
    • Calculate the Inventory Turnover Ratio for a store that had $2,000,000 in sales and an average inventory of $400,000.
    • Recommend measures to reduce excess inventory.
    • Explain how optimizing inventory turnover supports Lean principles.

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