Question: Question 1 Explain briefly the basic elements of lean production. Question i. What do you understand by product packages? Explain how product packages make a

Question 1 Explain briefly the basic elements of lean production. Question i. What do you understand by product packages? Explain how product packages make a business organization more competitive. ii. Highlight the scenario of meeting demand during lead time when both the demand and the lead time vary. iii. What is the main distinction between PERT and CPM? Explain why they are important in project management?

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