Operation management

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Scenario: Supply Chain Optimization You are a supply chain manager at a global manufacturing company, tasked with optimizing the company's supply chain operations. The company produces a wide range of products and has multiple manufacturing facilities, distribution centers, and retail outlets worldwide. Recently, you have noticed some inefficiencies in the supply chain, leading to delays in product delivery, excess inventory, and increased transportation costs. To address these issues, you have decided to implement various operational management strategies. One of the strategies you consider is vendor-managed inventory (VMI). VMI is a collaborative approach where the supplier manages the inventory at the customer's location. By implementing VMI, you aim to improve demand forecasting accuracy, reduce stockouts, and decrease inventory holding costs. Another strategy you contemplate is the adoption of lean manufacturing principles. Lean manufacturing focuses on eliminating waste, improving quality, and increasing efficiency. By implementing lean principles, you expect to reduce production lead times, enhance product quality, and streamline production processes. Additionally, you plan to implement a transportation management system (TMS) to optimize the movement of goods across the supply chain. A TMS will help you plan, execute, and monitor transportation activities, allowing you to optimize routes, consolidate shipments, and reduce transportation costs. Lastly, you consider implementing a just-in-time (JIT) inventory management approach. JIT aims to minimize inventory levels by delivering materials and components exactly when they are needed in the production process. By adopting JIT, you anticipate reducing inventory holding costs, improving cash flow, and increasing overall operational As the supply chain manager, you must decide which operational management strategies to implement to address the inefficiencies in the supply chain. Question: Which operational management strategy can help reduce production lead times, improve product quality, and streamline production processes? A) Vendor-Managed Inventory (VMI) B) Lean Manufacturing Principles C) Transportation Management System (TMS) D) Just-in-Time (JIT) Inventory Management