Definition for "Lead Time" in the Quantum Dictionary

- Social Sciences -

Economics & Business Dictionary

An operations concept defining how work, materials, and information flow through an organization to deliver products or services. It specifies planning, control, and improvement methods for capacity, quality, inventory, and delivery performance. It does not guarantee service levels without accurate demand signals, stable processes, and appropriate buffers.

Engineering & Applied Technologies Dictionary

The total elapsed time from the initiation of a request or order until its completion or delivery to the customer, encompassing processing times, waits, transfers, external supplier lead times and any queues that occur along the end‑to‑end value stream for that order or request.