In a Lean Production system the Takt Time is the time interval between consecutive items in a production system that must be achieved to to meet customer demand.
If the daily customer demand is 40 items and there are 400 minutes of production time then the takt time is 10 minutes.
The takt time is the 'heartbeat' for a Just In Time production system ('takt' is the German word for a conductor's baton). The idea is that production should be paced to produce one item every ten minutes rather than in periodic batches.
Associated terms are Cycle Time, Throughput, Touch Time, Work in Progress and Work in Queue.