Definition of procurement lead time

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TeachMeFinance.com - explain procurement lead time



procurement lead time

'procurement lead time' is an military term. It means '(DOD) The interval in time between the initiation of procurement action and receipt into the supply system of the production model (excludes prototypes) purchased as the result of such actions. It is composed of two elements, production lead time and administrative lead time. See also production lead time; receipt into the supply system'.

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Mark McCracken

Author: Mark McCracken is a corporate trainer and author living in Higashi Osaka, Japan. He is the author of thousands of online articles as well as the Business English textbook, "25 Business Skills in English".

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