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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