Chapter 26, Problem 26.2EX

To determine

Lean Manufacturing: Lean manufacturing aims at reducing the cost and minimizing the waste involved in the production, in order to optimize the value for the product or the service.

Situation:

A textile company moved most of the operations offshore to reduce labor cost. However the import common stock has risen ever since from 2% to 70% in the recent years. This is adding up to the cost and due to the import there is a delay as well in supplying the goods. Thus the situation demands for an accurate forecast of the market demand adding up to the cost.

To Recommend: The solution to meet the situation and reduce cost.