Operations
Lead Time
How long it takes from placing an order to actually receiving it. Longer lead times force you to hold more stock.
Example
If your supplier has a 45-day lead time, you must order November’s stock in September.
Related terms
Supply Chain
Everything it takes to get a product from raw material to your customer’s hands — suppliers, manufacturing, storage and delivery.
Turnaround Time
How long you take to finish a task from the moment it arrives — a support ticket, a repair, an order.
Inventory
The goods you are holding and have not sold yet. It is cash sitting on a shelf — too little and you miss sales, too much and you are broke but full of stock.
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