If you are trying to reduce costs, become more competitive and increase productivity, then you should consider the impact of lead time on your business. Lead time can be defined as the elapsed time between the acceptance of the order and the invoicing. To reduce lead time, you should consider the 5 following steps:

Define what constitutes your lead time, identify the steps that add value and those that don’t, remove non-value added time from your lead time, re-measure your lead time, and then return to the start again, and try to continually improve it.

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