BUISENESS MANAGEMENT
INVENTORY MANAGEMENT
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
|
|
it takes to produce and supply a product.
|
|
|
customers are prepared to wait for the delivery of their order.
|
|
|
Either A or B
|
|
|
None of the above
|
Detailed explanation-1: -In manufacturing, lead time often represents the time it takes to create a product and deliver it to a consumer. Lead time is calculated by adding any combination of the number of days to procure materials, manufacture goods, and deliver finished products.
Detailed explanation-2: -Production lead time is how long it takes from the point of getting materials to producing a finished product. Customer lead time is the period of moving the finished products from the manufacturer to the customer.
Detailed explanation-3: -What does lead time mean? Simply put, lead time refers to the ‘latency’ (time interval) between the start and completion of a certain task. It is most often used in supply chain circles and is an important measure for all product-based businesses.
Detailed explanation-4: -What is Marketing Lead Time? Lead time is the amount of time it takes to process a task or work item internally. It represents the difference between the moment a particular piece of work was requested by the customer and the time it’s delivered to the customer.