The Effects of Application of Lean Concept in Retail

Radojko Lukic ()
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Radojko Lukic: Faculty of Economics, University of Belgrade, Serbia

Economia. Seria Management, 2012, vol. 15, issue 1, 88-98

Abstract: Lean principles and techniques can be successfully applied in the retail sector. In the retail sector, lean approach improves operational flows. Lean retail encourages manufacturers to produce standard products in accordance with the created (placed) orders from retailers pursuant to the demand of their consumers. Characteristics of the retail market are: strong competition, shorter product life cycle, longer product development time and high sensitivity of demand. In order to be more competitive and profitable today's retailers operate strategically oriented to lower prices and gain exemption from holding unnecessary stocks. Lean retail is an example of best practices of successful operational strategies which management need to accept - to maximize the operating efficiency of the retail process.

Keywords: Toyota production system; the transformation of retail operations; waste; consumption; distribution; agile supply; efficient consumer response. (search for similar items in EconPapers)
JEL-codes: D40 L11 L25 L81 M30 M40 M41 (search for similar items in EconPapers)
Date: 2012
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Citations: View citations in EconPapers (2)

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Persistent link: https://EconPapers.repec.org/RePEc:rom:econmn:v:15:y:2012:i:1:p:88-98

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