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In an attempt to stop declining profitability,ICI,a British chemical company,deleted petrochemical products from its production and concentrated on specialty chemicals,a less capital intensive,less cyclical business.Which type of strategy will ICI more than likely implement if it is successful in making the needed changes?
Distance Reductions
A strategy aimed at minimizing the distance traveled during manufacturing or supply chain operations to enhance efficiency and reduce costs.
Safety Stock
Additional inventory kept on hand to mitigate the risk of stockouts due to unpredictable demand.
Lead Time
The amount of time it takes for an order to be fulfilled from the moment it is placed until it is received by the customer.
Kanban Size
The quantity of work or materials specified by a Kanban card, used in a pull system to control inventory and workflow.
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