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

Advantage of vogel approximation method, Advantage of Vogel Approximation ...

Advantage of Vogel Approximation Method a. This method is very systematic. b. This method takes lesser time in solving transportation problem. c. Less computation a

Explain primary causes of information management, Analyze the primary cause...

Analyze the primary causes of information management / information technology project failures and recommend at least three (3) best practices that could be adopted by any organiza

Explain what is your personal entrepreneurial strategy, 1. Who was Ewing Ma...

1. Who was Ewing Marion Kauffman, what did he do, and what was his philosophy of entrepreneurial leadership? 2. What is the difference between a manager and a leader? 3. Defi

Explain internal resources and capabilities, Analyze Procter & Gamble's (Ca...

Analyze Procter & Gamble's (Case 8) resources and capabilities as well as its structures and systems. Internal resources and capabilities. How should P&G's strengths be leverage

Explain loosening the constraints, Which of the following actions would exp...

Which of the following actions would expand the feasible region of an LP model? A.Loosening the constraints. B.Tightening the constraints. C.Multiplying each constraint by

Depict a p-chart based on the questionnaire results, 1. A shirt manufacture...

1. A shirt manufacturer buys cloth by the 100-yard roll from a supplier. For setting up a control chart to manage the irregularities (e.g., loose threads and tears), the followi

Assignment, Analyze the strategic role of operations management in terms of...

Analyze the strategic role of operations management in terms of organizational and operational objectives.

Explain marketing to stakeholders and stockholders, What is the value of ma...

What is the value of marketing to the consumer, the stakeholder and stockholder and a. the value of your place on marketing b. the value of marketing to customers and consumers c.

Scheduling - production control, Scheduling Meaning and Definition ...

Scheduling Meaning and Definition Scheduling is the next technique of production control. In production control scheduling  means  the  arrangement of different operatio

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