MANAGEMENT

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: -Manufacturing. In the manufacturing environment, lead time has the same definition as that of Supply Chain Management, but it includes the time required to ship the parts from the supplier.

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: -b) The length of time between ordering and receiving an inventory order.

Detailed explanation-5: -Lead time is the period between the start of a process and its conclusion. That is, it’s the amount of time it takes to make a product or service so it’s usable for the customer. Lead time is used in various industries from manufacturing to supply chain management and project management.