Little's law says there is a long-term relationship among the inventory, throughput, and flow time of a production system in steady state.

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Little's law is a fundamental principle in operations management that states there is a mathematical relationship between the inventory (I), throughput (TH), and flow time (FT) of a production system. The law can be expressed as I = TH x FT, and it holds true in steady-state conditions for any type of production system, whether it is a manufacturing line, a service operation, or a hospital. In other words, if we know two of the variables (e.g., inventory and throughput), we can use Little's law to determine the third one (e.g., flow time). Thus, Little's law is a powerful tool for analyzing and improving the performance of production systems.

Little's Law Says There Is a Long-Term Relationship Among the Inventory