Question

_____ refers to the time lag between the actual production of goods and when the goods are sold.

A) Lead Time
B) Turnaround Time
C) Cycle Time
D) Delivery Time

Answer 1

Delivery Time refers to the time lag between the actual production of goods and when the goods are sold.

Step-by-step explanation:

Delivery Time refers to the time lag between the actual production of goods and when the goods are sold. It is the amount of time it takes for the goods to reach the customer after they have been produced. For example, if a company produces a batch of smartphones and it takes 3 days for those smartphones to be delivered to the customer's doorstep, then the delivery time is 3 days. This concept is crucial for businesses to manage inventory levels and plan their production schedules efficiently.