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Lead Time
The amount of time between the initiation of a process and its completion, often referring to the delivery time of materials or the production cycle.
Standard Deviation
A statistical measure that quantifies the dispersion or variability of a set of data points from their mean, used to gauge the amount of variation.
Service Level
A measure of the quality of a service provided, often defined as the percentage of customer demand that is met through immediate stock availability.
Lead Time
refers to the total time that elapses between the initiation and completion of a production process, from order to delivery.
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