ENTREPRENEURIAL OPERATIONS
INVENTORY MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Delivery time
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Lead time
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Wait time
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Dispatch time
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Detailed explanation-1: -The term purchase order lead time (POLT) refers to the number of days it takes between the time that a company orders production inputs and the time those items arrive at the manufacturing plant. Put simply, a purchase order lead time is the estimated time it takes to receive an order after it is placed.
Detailed explanation-2: -Customer lead time: the amount of time it takes to fulfil a customer’s order. Material lead time: the amount of time it takes to receive materials from a supplier after the initial order has been placed.
Detailed explanation-3: -What is order lead time? Order lead time measures how long it takes for a vendor or retailer to fulfill customer orders. In other words, order lead time is the number of days from when an order is placed until fulfillment is finalized and delivery is complete.