need an anwer with full explanation with sub-points for both parts .

Lakewood Motor Corporation (LMC) is headquartered in the City of Edmonton for over 2 decades. Tim Delaney, CEO of Lakewood Motor Corporation, just returned after visiting his latest dealership acquisition. The 5th Lakewood Motors dealership in their network serves the Edmonton metropolis of one million people. In addition, northwest of the City of Edmonton is the city of St. Albert located on the Sturgeon River with a population of 70,000 people. In the south is the city of Leduc with a population of 50,000 people. Further in the eastern boundary is Sherwood Park, a large hamlet in Strathcona County with a population of 75,000 people. Each of the dealerships in the LMC network marketed a different brand of vehicle and have traditionally operated autonomously. Tim is excited about this new dealership since it is the first Auto Super-market" in the LMC network. The Auto super-markets are different from the traditional dealership because they are set up to sell/service multiple brands of vehicles at the same location. This new dealership boats of 30,000 square foot facility selling the full line of Toyota, Honda and Nissan in the same facility. Lakewood Motor Corporation was birthed two decades ago with the purchase of a bankrupt Ford dealership and has grown steadily in size and reputation. Tim attributes the success of his business to 3 critical strategies. The first strategy is the "Customer First" strategy in everything they do. The second strategy was a "hassle-free buying experience". Each vehicle on the floor is identified with the "lowest price tag" attached to the vehicle, which allowed customers to freely browse without the pressure of a pushy salesperson. If customers had a question or wanted to drive the car they would approach the Customer Service desk located at the centre of the sales floor. The customer service desk on the sales floor was staffed with highly skilled and knowledgeable sales members with impeccable customer-first orientation. Tim thought that the third strategy for retaining customers for life was to deliver a memorable after-sales service. Tim developed a robust service department driven with a reputation of servicing, diagnosing and repairing vehicles properly on a timely basis. Sliably High-quality after-sales service depended on three essential components. First, was the presence of highly qualified and well-trained service technicians. The second was using the latest tools and technologies for appropriate diagnosis and repair activities. Third, was the availability of a full range of parts, materials and supplies necessary to complete the repairs on a timely basis. Tim had invested in the modernization of their tools and equipment for timely repairs. He subscribed to TPS lean management system for training LMC management, staff, technicians and other personnel. Tim worried about the LMC supply chain and its ability to manage inventory on a timely basis. He worried about the supplier relationship process and the management of service parts and material flows in the system. Tim was constantly worried about the continued availability of the right parts and materials for the store and service department. Tim observed that their stores had a low inventory turnover ratio and there were high levels of parts or inventory in the stores. The management of the supplier relationship process and service parts/material flows in the supply chain was not consistent. Tim had read of business cases where organizations failed since they had not prepared for growth and the growing demand of customers. Page 1 MGT 320 - Assignment 3 Due Date: March 31st, 2022 MGT 320 - Operations Management Currently, each of the 5 dealerships purchases their service parts, supplies and materials independently based on their forecast derived from historical demand data which accounted for seasonality. Batteries and alternators had a high failure rate in Winter while air-conditioner parts are in high demand during summer. Similarly, coolants were needed in the spring to service air-conditioners for the summer months whereas antifreeze was needed in the Fall to winterize automobiles. Demand forecast was adjusted for special vehicle sales and service nromotions One of the growing complexities of managing service parts and supplies was an exhaustive SKU list that had to be stocked at service centers. Some of these parts would be used for repairs while others sold over the counter. The procurements of parts varied and some of the OEM parts had to be purchased from Toyota, Honda and Nissan suppliers while others parts and materials such as oils, lubricants, filters, fan belts were procured from other suppliers. The purchasing department had to remember that the success of a dealership depended on (1) Supplying the right parts at the right time to support fast reliable after-sales service and (2) lowering the costs to support hassle-free one price - lowest price service concept As Tim thought about procuring parts, materials and supplies for his business he wondered how he would allocate space and financial resources to invest in parts and supplies. The acquisition of the 5th Lakewood Motors dealership had added additional strain on both finances and space. The need to support 3 distinct manufacturer lines in the same facility was a mammoth task. With the current pandemic and economic situation, investment dollars were scarce and space was at a premium. Tim was wondering what could be done in the area of procurement, inventory and supply chain management to address some of the concerns and alleviate some of the pressure Questions: (1) What recommendations would you provide to address the space plus financial challenges and the procurement of parts, supplies/materials for the dealership network of Lakewood Motor Corporation? (2) Identify at least 3-4 inventory management techniques that will benefit Lakewood Motor Corporation. Explain the specific benefits of each recommended technique