Lead time
also: component lead time · factory lead time
The time between placing an order and receiving it; for some parts, tooling and production slots it runs to months and dictates the schedule.
Lead time applies at every level: components (from days for stocked parts to many months for constrained ones), PCB fabrication, injection-mold tooling, contract-manufacturer production slots, certification lab bookings and ocean freight. The longest item on your critical path sets the earliest date you can ship.
Lead times move with the market. During shortages, ordinary parts have gone from in-stock to many months out, and distributors allocate scarce supply to their largest customers.
Where it bites: discovering a long-lead part after design freeze. Mitigations include checking availability during design, ordering long-lead items before the design is final (accepting some risk), holding buffer stock, and qualifying alternates.
Founder takeaway
Build the schedule around your longest lead-time items, and place early orders for them while the design is still being finished.
sources
engineer review pending