Based on the attached financial statements, assess CVS's performance relative to its competitors, Walgreen's and Rite Aid (at minimum, use cash-to-cash cycle time). If CVS adopts a lean philosophy and is able to reduce its inventory levels, with other values remaining relatively stable, how would you expect the performance metrics to change? Do you believe that a lean philosophy will work for CVS (based on the company, the industry, etc.)? Make at least one recommendation to help make the lean initiative successful at CVS. Be as specific and detailed as possible. Show any math on the financial statement pages or the blank final page.

The responses will be graded on thoroughness (4 pts), logical recommendation (4 pts), and clear and persuasive writing style (2 pts) for 10 points total per question. Responses should be 250 words in length.