Supply Chain Management
A more conventional definition of lead time in the supply chain management realm is the time from the moment the customer places an order (the moment you learn of the requirement) to the moment it is received by the customer. In the absence of finished goods or intermediate (work in progress) inventory, it is the time it takes to actually manufacture the order without any inventory other than raw materials.
Read more about this topic: Lead Time
Famous quotes containing the words supply, chain and/or management:
“Municipal laws are a supply to the wisdom of each individual; and, at the same time, by restraining the natural liberty of men, make private interest submit to the interest of the public.”
—David Hume (1711–1776)
“Loyalty to petrified opinions never yet broke a chain or freed a human soul in this world—and never will.”
—Mark Twain [Samuel Langhorne Clemens] (1835–1910)
“The Management Area of Cherokee
National Forest, interested in fish,
Has mapped Tellico and Bald Rivers
And North River, with the tributaries
Brookshire Branch and Sugar Cove Creed:
A fishy map for facile fishery....”
—Allen Tate (1899–1979)