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 managerial motivation, Explain managerial motivation. Manageri...

Explain managerial motivation. Managerial Motivation: It is the means or inducements, which impel or inspire a person to intensify his willingness to use his abilities and po

Describe you can conduct outside research to locate info, In a 1-2 page pap...

In a 1-2 page paper discuss the following case study by applying the knowledge you gained through this week's studies. If necessary, you can conduct outside research to locate info

Explain intangible assets and human capital, Companies are now more and mor...

Companies are now more and more interested in using intangible assets and human capital as a way to gain an advantage over competitors. True False

Compute sample size to confirm or not the findings, If a pilot test reveale...

If a pilot test revealed 45% perceived poor service quality, and we decide the interval range is + 10 percent with a 95% confidence level, what is the calculated sample size to con

Explain importantance to study the internal resources, Why is it important ...

Why is it important to study the internal resources, capabilities, and activities of firms? What insights can be gained?

Compute the service to club members and casual flyers, Evaluate the service...

Evaluate the service to club members and casual flyers by completing a table similar to table 3.1

What are generally accepted accounting principles, Yvon, an accountant, is ...

Yvon, an accountant, is charged with negligence by Zesty Sauce, Inc., a client. Yvon may successfully defend against the claim if she can show that (Points : 2) scienter was lackin

Do you think that there is too much advertising out there, Do you believe t...

Do you believe that there is too much advertising out there? Do you think there should be a limit to advertising? Explain.

Access - customer satisfaction and service quality, Access - Customer Satis...

Access - Customer Satisfaction and Service Quality Involves approachability and ease of contact. It means: the service is easily accessible by telephone (lines are not busy an

View of the cell used by jobs - process design, View of the Cell Used By Jo...

View of the Cell Used By Jobs - Process Design This figure gives a close-up view of the cell used by Jobs 1 and 2. Notice that neither of the jobs uses all of the processes in

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