• Analyze different cost reduction strategies for LMN Corporation using the following data:

  Strategy	Description
  Lean Manufacturing	Eliminate waste and improve efficiency
  Outsourcing	Transfer non-core functions to external vendors
  Value Analysis	Identify and eliminate unnecessary costs

  Requirements:

  • Analyze the advantages and disadvantages of each cost reduction strategy.
  • Present the analysis in a detailed table format.
  • Discuss the implementation challenges and potential outcomes of each strategy.