lead time

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lead time

The factory manager reviews the lead time for the new product.

Definition

Noun: 1. The period of time between the start of a process and its completion, or between placing an order and receiving the goods. This term is primarily used in business, manufacturing, and project management to describe the total time required for a specific operation or cycle.

Usage

"Lead time" is used to quantify the duration needed to accomplish a task from beginning to end. It is a critical factor in planning, inventory management, and setting customer expectations. - It is typically modified by adjectives describing the process (e.g., production lead time, shipping lead time, development lead time). - It is often discussed in terms of being long, short, reduced, or increased.

Examples
  • Noun:
    • The lead time for custom furniture is approximately eight weeks.
    • We need to factor in a two-week lead time for component delivery.
    • Reducing manufacturing lead time is a key goal for improving efficiency.
Advanced Usage
  • "To have a lead time of [duration]": A common construction to specify the length of the interval.
    • This model has a lead time of six months due to high demand.
  • "Lead time reduction": A business strategy focused on shortening the time interval to gain a competitive advantage.
    • The company invested in new software for lead time reduction.
Variants and Related Words
  • Cycle Time (n): The time it takes to complete one specific operation or cycle, often a component of the total lead time.
  • Turnaround Time (n): Similar to lead time, often used for services, referring to the time taken to complete a process and return the result.
Synonyms
  • Processing time
  • Gestation period (for projects or developments)
  • Time to completion
Related Phrases
  • "To build/buffer in lead time": To intentionally include extra time in a schedule to account for potential delays.
    • Always build in some extra lead time for international shipments.
  • "Lead time analysis": The examination of the components of lead time to identify areas for improvement.
    • The lead time analysis revealed bottlenecks in the approval process.
lead time

The factory manager reviews the lead time for the new product.

Noun
  1. the time interval between the initiation and the completion of a production process
    • the lead times for many publications can vary tremendously
    • planning is an area where lead time can be reduced