Question & Answer: Lead time is the gap between: When an order is received and when it is used. When an order is received…

Expert Answer

It may not always happen that whenever someone places order for any item, he/she may not receive same immediately. Rather it is received after a time interval caused due to inherent processing time. This time difference is called Lead time.

Lead time is thus the time difference between when an order is placed and when an order is received.

Therefore, the answer is “d. When an order is placed and when an order is received”