Which of these phrases is correct?
"I will run it on scheduled time."
or "I will run it in scheduled time."

I think I have encountered with both of them, however I guess only one is correct.
Many thanks!

That a good one, not too sure either. I have seen both being used as well. Anyone have any idea's?

Both can be used according to the context of speech in which they occur.

The difference between them is that "On time" means at the planned time; neither late nor early
e.g The students are advised to get in the examination hall on scheduled time.

While

"In time" refers to a situation when one has enough time to spare before the last moment.
e.g He would have got in the train if he had reached the station in scheduled time.

Does that clear up anything?

It does clear up everything. Thanks Setris