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This is the time gap between placement of an order and the time of actual supply. The determination of lead time is a complicated matter.
It is of core significance in determining the stock level.
Lead time + servicing Time + Delivery Time + Receiving Time.
The minimum maximum and average lead times differ from unit to unit and time to time. It is a procurement cycle.
This coursework uses a data set from Stock and Watson's 'Introduction to Econometrics' textbook. The two variables are a three-month interest rate (R90t) and a one-year interest ra
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