ECONOMICS

Detailed explanation-1: -Delivery lead time is the period between when an order is placed and when that order is delivered. Delivery lead time tells a company how far in advance it needs to place an order for the delivery to arrive on time. It is one of the most important metrics for managing supply chains and inventory.

Detailed explanation-2: -A lead time is the latency between the initiation and completion of a process. For example, the lead time between the placement of an order and delivery of new cars by a given manufacturer might be between 2 weeks and 6 months, depending on various particularities.

Detailed explanation-3: -Lead time in shipping is the period of time between when an order is first received and when it reaches the customer. It includes the processing of the order and then the time spent delivering a package.

Detailed explanation-4: -Lead time is the amount of time between the commencement and finishing of a process. In procurement, lead time includes the first effort to initiate acquisition of goods or services, up to the time of their arrival.