Explain lead time, Operation Management

Assignment Help:

Explain Lead Time.

Lead Time: Lead Time is the time that takes the stock to reach from Re-order point to minimum stock level. This may be also defined as the time as elapses among the voicing of a requirement for anything and the time taken to satisfy the requirement. If one order is placed today and after 40 days this is fulfilled, then 40 days duration is the lead time.

Therefore it shows that order must be placed 40 days earlier. Lead time finds out the amount of material to be reserved in reserve. As the lead time reduces, the reserve stock also reduces and vice-versa.

Hence, the lead time analysis is very essential and the attempt should be made to reduce this period.


Related Discussions:- Explain lead time

Explain attacking personal computers to instill fear, 1. In _______________...

1. In ________________, the court ruled that: 1) a search is not unreasonable if items sought are not in the possession of the suspected criminal, and 2) the search should not inte

Describe what is customer relationship management, What is Customer Relatio...

What is Customer Relationship Management? Describe the four-step framework for one-to-one marketing that can be adapted to CUSTOMER RELATIONSHIP MANAGEMENT marketing?

Explain how was your performance compared to the standards, Think of a clas...

Think of a class you've taken in the past. What standards of performance did your professor establish? How was your actual performance measured? How was your performance compared t

Capacity planning, why is capacity planning important in production and op...

why is capacity planning important in production and operations management?

Explain repetition of new product, You are a consultant called in to estima...

You are a consultant called in to estimate the costs after the employees learn how to do a job more efficiently by repetition of new product. You find a company can produce a produ

Explain corresponding system attributes, Utilizing techniques of QFD, list ...

Utilizing techniques of QFD, list 3-5 stakeholder expectations and corresponding system attributes for a business laptop. Provide metrics for measuring these system attributes.

Explain operating cost & labour cost, A location analysis for Temponi Contr...

A location analysis for Temponi Controls, a small manufacturer of parts for high-technology cable systems, has been narrowed down to 4 locations. Temponi will need to train assembl

What are the advantages as well disadvantages of financing, What are the ad...

What are the advantages and disadvantages of financing via the internet?

Define manufacturers should feel free to sell private labels, Should Nation...

Should National-Brand Manufacturers Also Supply Private Label Brands? Take a position: Manufacturers should feel free to sell private labels as a source of revenue versus nation

Explain level of bookings influences, Please give a detailed explanation fo...

Please give a detailed explanation for the following scenario: Your industry practices reporting "bookings" for contracted business. The level of bookings influences your company's

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd