Lead time for ordering is the official term used to describe the amount of time that passes between a customer placing an order and receiving their product. It also refers to the average amount of time it takes for a company to receive goods or services that they placed an order for. Lead time is important because it gives customers an idea of how long they will have to wait to receive their items, and it helps companies plan their operations accordingly. When customers know their lead time, they can make informed decisions about when to place their orders, and companies can plan in advance to make sure they have enough stock on hand to fill those orders. By managing lead times effectively, businesses can ensure a smooth operation and happy customers.