On time means, good are delivered at committed time. To understand lead time please read this www.scmdojo.com/lead-time-definition-what-it-is-how-to-calculate-reduce-it/#:~:text=Lead%20time%2C%20with%20varied%20definitions,date%20minus%20the%20start%20date.
Cost and Quality understood.
What is the difference between delivery on time and lead time? Kindly briefly describe
On time means, good are delivered at committed time. To understand lead time please read this www.scmdojo.com/lead-time-definition-what-it-is-how-to-calculate-reduce-it/#:~:text=Lead%20time%2C%20with%20varied%20definitions,date%20minus%20the%20start%20date.