What Is Lead Time

question 53

Multiple Choice

What is lead time?

• A) The time it takes for a new product to progress through the life cycle
• B) The amount of time it takes for a vendor to negotiate price with buyers
• C) The time it takes retailers to gain customer loyalty
• D) The amount of time it takes to develop product assortment in the assortment planning process
• E) The time from recognizing that an order needs to be placed and the point it arrives in the store ready for sale

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Definitions:

International Operations

Business activities and engagements that a company conducts beyond its domestic borders, involving trade, manufacturing, or services in foreign countries.

Regiocentric

An approach in international business that involves focusing on and tailoring strategies to specific geographic regions rather than individual countries or the global market.

Ethnocentric

Characterized by or based on the attitude that one's own group is superior to others in culture or nationality.

Polycentric

In the context of international business, polycentric refers to a strategy or approach where a company adapts its products, practices, and policies to fit the local cultures and conditions of the countries in which it operates.