Lead Time

Lead time refers to the period between when an order is placed or a task is initiated and when it is completed or delivered. It’s a measure of how long it takes to get something done or reach a final result. For example, if you order a product online, the lead time is the time from when you place the order to when it arrives at your door. In business, managing lead time helps ensure products are available when needed and operations run smoothly, balancing supply with demand efficiently.