Explain Lead Time in brief.

Question

Accepted Answer

Lead time is the amount of time it takes for a process to be completed, from start to finish.

Lead time is a measure of the total time required to fulfill a request or complete a task.
It includes all the steps and activities involved in the process, from initiation to delivery.
Lead time can vary depending on the complexity of the task and the efficiency of the process.
For example, in manufacturing, lead time includes the time it takes to procure raw materials, produce the product, and ship it to the customer.
In project management, lead time encompasses the time required for planning, executing, and delivering a project.
Lead time is an important metric for businesses as it helps in managing customer expectations, optimizing processes, and identifying bottlenecks.

Accepted Answer

The amount of time that passes from the start of the process to its completion.

It can be manufacturing lead time -> the time it takes for the supplier to have goods ready for shipment.

OR It can be time from the placement of an order to delivery of that order.

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