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  2. Reorder point - Wikipedia

    en.wikipedia.org/wiki/Reorder_point

    Reorder level = Average daily usage rate × Lead time in days = 50 units per day × 7 days = 350 units. When the inventory level reaches 350 units an order should be placed for material. By the time the inventory level reaches zero towards the end of the seventh day from placing the order materials will reach and there is no cause for concern.

  3. Program evaluation and review technique - Wikipedia

    en.wikipedia.org/wiki/Program_Evaluation_and...

    The duration (5.33 work days) is subtracted from the LF to get an LS of 3.84 work days. The LF for a is the minimum LS of its successor activities. Since c has an LS of 4 work days and d has an LS of 8.68 work days, the LF for a is 4 work days. The duration (4 work days) is subtracted from the LF to get an LS of 0 work days.

  4. Lead time - Wikipedia

    en.wikipedia.org/wiki/Lead_time

    The lead time shows the amount of elapsed time from a chunk of work or story entering the backlog, to the end of the iteration or release. [13] A smaller lead time means that the process is more effective and the project team is more productive. [13] Lead time is also the saved time by starting an activity before its predecessor is completed.

  5. Turnaround time - Wikipedia

    en.wikipedia.org/wiki/Turnaround_time

    Lead Time vs Turnaround Time: Lead Time is the amount of time, defined by the supplier or service provider, that is required to meet a customer request or demand. [5] Lead-time is basically the time gap between the order placed by the customer and the time when the customer get the final delivery, on the other hand the Turnaround Time is in order to get a job done and deliver the output, once ...

  6. Little's law - Wikipedia

    en.wikipedia.org/wiki/Little's_law

    In mathematical queueing theory, Little's law (also result, theorem, lemma, or formula [1] [2]) is a theorem by John Little which states that the long-term average number L of customers in a stationary system is equal to the long-term average effective arrival rate λ multiplied by the average time W that a customer spends in the system.

  7. DHL Fastest Lap Award - Wikipedia

    en.wikipedia.org/wiki/DHL_Fastest_Lap_Award

    The DHL Fastest Lap Award is given annually by the courier, Formula One global partner and logistics provider DHL "to recognise the driver who most consistently demonstrates pure speed, with the fastest lap at the highest number of races each season", [1] and to reward the winning driver for "characteristics such as excellent performance, passion, can-do attitude, reliability and precision". [2]

  8. Days in inventory - Wikipedia

    en.wikipedia.org/wiki/Days_in_inventory

    The average inventory is the average of inventory levels at the beginning and end of an accounting period, and COGS/day is calculated by dividing the total cost of goods sold per year by the number of days in the accounting period, generally 365 days. [3] This is equivalent to the 'average days to sell the inventory' which is calculated as: [4]

  9. DHL Fastest Pit Stop Award - Wikipedia

    en.wikipedia.org/wiki/DHL_Fastest_Pit_Stop_Award

    The DHL Fastest Pit Stop Award is presented annually by the courier, Formula One global partner and logistics provider DHL "to recognize outstanding teamwork and performance from the 'unsung heroes' who make a critically important contribution to the drivers' success on the track", [1] and to award the team "that demonstrates the ability to work with speed and efficiency most consistently ...