BUISENESS MANAGEMENT
INVENTORY MANAGEMENT
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
|
|
time between placing an order and its delivery
|
|
|
time between receiving a customer order and producing the products
|
|
|
) time between receiving a customer order and delivering the items
|
|
|
time required to correct errors in the defective products
|
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: -What is the Difference Between Lead and Delivery Time? While lead time pertains to the overall duration or interval of processing the order until the customer receives it, delivery time is the time it takes for the product or service to be transported to the customer.
Detailed explanation-3: -Purchase Order vs Delivery Order The Purchase Order is your first contact with the supplier and the Delivery Order is proof that there is a contract between the buyer and the warehouse where the goods are kept/stored. A Purchase Order is a binding legal contract and a Delivery Order is not.
Detailed explanation-4: -The Actual Order Lead Time (OLTActual) The order lead-time, refers to the time which elapses between the receipt of the customer’s order (Order Entry Date) and the delivery of the goods."