This paper investigates a centralized one-warehouse multiple-retailer (OWMR) distribution system with quantity-restricted deliveries from the warehouse to downstream retailers. Demand at each retailer follows a compound Poisson process, and inventory is managed through continuous-review (R,Q) policies. Shortages are completely backordered, with customer orders fulfilled according to a first-come-first-served (FCFS) rule. The model explicitly incorporates stochastic retailer lead times. To analyze the proposed system, several theoretical results are established regarding the convexity of the total cost function. An algorithm-based optimization procedure is developed to jointly determine base quantity, retailer, and warehouse reorder points that minimize the total cost. The numerical study reveals that the combined effect of stochastic retailer lead times and restricted deliveries substantially influences inventory decisions, which results in higher reorder points to maintain service levels. The results further reveal that retailer backordering costs are a key driver of the optimal policy, higher shortage penalties lead to increased reorder points across the supply chain as a precaution against stockouts under stochastic lead times and restricted delivery operations