STEP 0: Pre-Calculation Summary
Formula Used
Time to Receive = Time for Stock Validation+Time to Add Stock to Records+Time to Prep Stock for Storage
TTR = TSV+TASR+TPSS
This formula uses 4 Variables
Variables Used
Time to Receive - Time to Receive is a measuring tool to detect the efficiency of the stock-receiving process in an organization.
Time for Stock Validation - Time for Stock Validation refers to the period allocated for verifying the accuracy and completeness of inventory records.
Time to Add Stock to Records - Time to Add Stock to Records refers to the duration it takes for a company to update its inventory records after receiving new stock or inventory items.
Time to Prep Stock for Storage - Time to Prep Stock for Storage refers to the duration it takes for a company to update its inventory records after receiving new stock or inventory items.
STEP 1: Convert Input(s) to Base Unit
Time for Stock Validation: 6 --> No Conversion Required
Time to Add Stock to Records: 5 --> No Conversion Required
Time to Prep Stock for Storage: 4 --> No Conversion Required
STEP 2: Evaluate Formula
Substituting Input Values in Formula
TTR = TSV+TASR+TPSS --> 6+5+4
Evaluating ... ...
TTR = 15
STEP 3: Convert Result to Output's Unit
15 --> No Conversion Required
(Calculation completed in 00.004 seconds)
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## Credits

Created by Aashna
IGNOU (IGNOU), India
Aashna has created this Calculator and 100+ more calculators!
Verified by Surjojoti Som
Rashtreeya Vidyalaya College of Engineering (RVCE), Bangalore
Surjojoti Som has verified this Calculator and 10+ more calculators!

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Labour Cost Variance
Labour Cost Variance = (Standard Hours for Actual Output*Standard Rate)-(Actual Hours*Actual Rate)
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Revised Standard Quantity = (Standard Quantity of each Material/Total Standard Quantity)*Total Actual Quantity
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Learning Curve = (Time Taken to Produce Initial Quantity*Cumulative Number of Batches)^(-Learning Coefficient)
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Labour Efficiency Variance = Standard Rate*(Standard Time-Actual Time)*Variance
Time to Receive = Time for Stock Validation+Time to Add Stock to Records+Time to Prep Stock for Storage
Labour Rate Variance
Labour Rate Variance = Actual Time*(Standard Rate-Actual Rate)*Variance
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Cycle Time = Process Time+Inspection Time+Move Time+Queue Time
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Revised Standard Hours of Labours = (Actual Mix/Standard Mix)*(Standard Hours of Labour)
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Time to Receive = Time for Stock Validation+Time to Add Stock to Records+Time to Prep Stock for Storage
TTR = TSV+TASR+TPSS

## What is Time to Receive ?

Time to Receive refers to the duration it takes for a business or organization to receive goods or materials that have been ordered from suppliers. This process is a crucial step in the supply chain and production cycle, impacting inventory management, cost accounting, and overall operational efficiency. The process begins when a purchase order or procurement request is initiated by the purchasing department or relevant personnel. This document specifies the details of the goods or materials to be acquired, including quantities, specifications, pricing, delivery terms, and supplier information. By effectively managing the "Time to Receive" and optimizing the receiving process, companies can reduce costs, improve inventory accuracy, enhance supply chain visibility, and better meet customer demand. Timely receipt of goods is critical for maintaining production schedules, fulfilling customer orders, and sustaining competitive advantage in today's fast-paced business environment.

## How to Calculate Time to Receive?

Time to Receive calculator uses Time to Receive = Time for Stock Validation+Time to Add Stock to Records+Time to Prep Stock for Storage to calculate the Time to Receive, Time to Receive refers to the duration required for a company to receive goods or materials that have been ordered or acquired. Time to Receive is denoted by TTR symbol.

How to calculate Time to Receive using this online calculator? To use this online calculator for Time to Receive, enter Time for Stock Validation (TSV), Time to Add Stock to Records (TASR) & Time to Prep Stock for Storage (TPSS) and hit the calculate button. Here is how the Time to Receive calculation can be explained with given input values -> 15 = 6+5+4.