GK
BUSINESS MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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How long it will take to receive the raw materials from when an order is placed
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how long the product is expected to last for
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How long it takes to manufacture a product
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how long it takes for all of the stock to be used up
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Detailed explanation-1: -The purchase order lead time is how long it takes for an order to be fulfilled-from the time the order is placed until the estimated date of receipt. So if a company places an order for supplies on May 1 and it’s expected to be delivered on May 10, the POLT for the supplies is nine days.
Detailed explanation-2: -Material lead time is the time it takes for raw materials to be delivered to the factory. Production lead time is how long it takes the factory to get an order through production and deliver the finished goods. Customer lead time is the time when a customer makes an order to when they receive that order.
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: -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.