Lead time is the time, it takes to produce and supply a product., Procurement is, the purchasing of goods (materials, parts, supplies, equipment) required to run an enterprise., A retailer is a business, that buys products from wholesalers or manufacturers and resells them to the ultimate customer., Customer order cycle time is the time, customers are prepared to wait for the delivery of their order., A wholesaler is, an intermediary between manufacturers and retailers which buys in large quantities and resells in smaller ones., JIT - just in time is a concept, of reducing inventories by co-ordinating the delivery of materials just before they are needed.

Logistics. Inventory procurement 2

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