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| Lading
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The cargo carried in a transportation vehicle.
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| Laid-Down cost
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The sum of the product and transportation costs. The laid-down cost is useful in comparing the total cost of a product shipped from different supply sources to a customer's point of use.
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| LAN
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Please refer Local Area Network.
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| Land bridge
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The movement of containers by ship-rail-ship on Japan-to-Europe moves; ships move containers to the U.S. Pacific Coast, rails move containers to an East Coast port, and ships deliver containers to Europe.
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| Land Grants
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Grants of land given to railroads to build tracks during their development stage.
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| Landed Cost
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Cost of product plus relevant logistics costs, such as transportation, warehousing, handling, etc. Also called Total Landed Cost of Net Landed Costs.
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| Landed Cost
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Inventory costing method that includes the purchased cost plus transportation costs, import fees, duties, taxes, and other costs incurred in obtaining the inventory.
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| Laser scanner
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Device that uses a moving laser to read bar codes. Devices can be portable hand-held units, or fixed units.
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| Laser-guided
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Guidance system used with agvs that uses a rotating laser (mounted on top of the vehicle) to determine the vehicles location. Reflective targets need to be strategically placed along the vehicle's route. Must always maintain clear line-of-site to reflective targets for the system to work properly.
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| Lash Barges
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Covered barges that carriers load on board oceangoing ships for movement to foreign destinations.
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| LASH Vessel
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A ship measuring at least 820 feet long with a deck crane able to load and unload barges through a stern section that projects over the water. The acronym LASH stands for Lighter (barge) Aboard Ship.
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| Last In First Out (LIFO)
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In inventory control and financial accounting, this refers to the practice of using stock from inventory on the basis of what was received last is consumed first. This has limited use in stock keeping and is primarily a cost-accounting method.
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| Last Updated
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A date and time stamp that is recorded when a field or record was last modified by the user.
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| LCL
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Please refer Less-Than-Carload and Less-Than-Containerload.
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| Lead Logistics Provider (LLP)
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An organization that organizes other third party logistics partners for outsourcing of logistics functions.
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| Lead time
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Amount of time required for an item to be available for use from the time it is ordered. Lead time should include purchase order processing time, vendor processing time, in transit time, receiving, inspection, and any prepack times.
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| Lead Time
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The total time that elapses between an order's placement and its receipt. It includes the time required for order transmittal, order processing, order preparation, and transit.
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| Lead-time demand
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Forecasted demand during the lead-time period. For example, if your forecasted demand is 3 units per day and your lead time is 12 days, your lead-time demand would be 36 units.
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| Lean manufacturing
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Alternate term used to describe the philosophies and techniques associated with Just-in-time (JIT) manufacturing.
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| Leg
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A leg has an origin, destination, and carrier and is composed of all consecutive segments of a route booked through the same carrier. Also called Bookable Leg.
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| Legacy system
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Implies a business computer/information system that is old or outdated. Often used to describe home-grown (custom built) mainframe systems, however, software companies will use the term legacy system to define any system that is not based on the current version of a business software package.
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| Lessee
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A person or firm to whom a lessor grants a lease.
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| Lessor
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A person or firm that grants a lease.
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| Less-Than-Carload (LCL)
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Shipment that is less than a complete rail car load (lot shipment).
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| Less-Than-Containerload (LCL)
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A term used when goods do not completely occupy an entire container. When many shipper's goods occupy a single container, each shipper's shipment is considered to be LCL.
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| Less-than-truckload
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Transportation term that describes shipments that are less than a trailer load in size. Ltl also is used to describe the carriers that handle these loads. Ltl carriers generally use strategically placed hubs to sort and consolidate ltl shipments into full-truck-load shipments.
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| Less-Than-Truckload (LTL)
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Trucking companies that consolidate and transport smaller (less than truckload) shipments of freight by utilizing a network of terminals and relay points.
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| Less-Than-Truckload (LTL) Carriers
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Trucking companies that consolidate and transport smaller (less than truckload) shipments of freight utilizing a network of terminals and relay points.
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| Letter of Credit (LOC)
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A method of payment for goods in which the buyer established his credit with a local bank, clearly describing the goods to be purchased, the price, the documentation required, and a time limit for completion of the transaction. Upon receipt of documentation, the bank is either paid by the buyer or takes title to the goods themselves and proceeds to transfer funds to the seller.
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| Leverage
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Taking something small and exploding it. Leverage can be financial or technological.
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| Life Cycle Cost
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In cost account, a product's life cycle is the period that starts with the initial product conceptualization and ends with the withdrawal of the product from the marketplace and final disposition. A product life cycle is characterized by certain defined stages, including research, development, introduction, maturity, decline, and abandonment. Life cycle cost is the accumulated costs incurred by a product during these stages.
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| LIFO
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Please refer Last In First Out.
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| LIFO, Last-in-first-out
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In warehousing, describes the method for using the newest inventory first (i've never seen an operation that uses this). In accounting, it's a term used to describe an inventory costing method. See FIFO
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| Lift on, Lift off (LO/LO)
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A method by which cargo is loaded onto and unloaded from an ocean vessel, which in this case is with a crane.
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| Lift truck
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Vehicles used to lift, move, stack, rack, or otherwise manipulate loads. Material handling workers use a lot of terms to describe lift trucks; some terms describe specific types of vehicles, others are slang terms or trade names that people often mistakenly use to describe trucks. Terms include, industrial truck, forklift, reach truck, motorized pallet trucks, turret trucks, counterbalanced forklift, walkie, rider, walkie rider, walkie stacker, straddle lift, side loader, order pickers, high lift, cherry picker, jeep, towmotor, yale, crown, hyster, raymond, clark, drexel. See lift truck pics and articles on lift truck basics and lift truck safety for more info.
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| Lighter
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A barge-type vessel used to carry cargo between shore and cargo ship. While the terms barge and lighter are used interchangeably, a barge usually refers to a vessel used for a long haul, while a lighter is used for a short haul.
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| Lighterage
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The cost of loading or unloading a vessel by means of barges.
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| Lights-out warehouse
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A.k.a. Lights-out facility. Describes fully-automated facilities. The idea being that if the facility requires no human operators, you can run it with no lights. Use of as/rs units, agvs, automated conveyors, robots, etc makes this possible.
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| Line Functions
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The decision-making areas companies associate with daily operations. Logistics line functions include traffic management, inventory control, order processing, warehousing, and packaging.
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| Line Item
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A specific and unique identifier assigned to a product by the responsible enterprise.
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| Line item
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A single detail record. The term line item is most commonly used to describe the detail (each line that reflects an item and a quantity) on sales orders or purchase orders. For example, if a customer orders 20 red pens, 50 black pens, and 10 green pens, this equates to an order with three line items.
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| Line-Haul Shipment
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A shipment that moves between cities and over distances more than 100 to 150 miles in length.
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| Liner Service
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International water carriers that ply fixed routes on published schedules.
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| Link
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The transportation method a company uses to connect nodes (plants, warehouses) in a logistics system.
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| Linked Distributed Systems
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Independent computer systems owned by independent organizations linked in a manner to allow direct updates to be made to one system by another. For example, a customer's computer system is linked to a supplier's system and the customer can create orders or releases directly in the supplier's system.
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| Live
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A situation in which the equipment operator stays with the trailer or boxcar while it is being loaded or unloaded.
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| LLP
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Please refer Lead Logistics Partner.
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| LO/LO
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Please refer Lift on, Lift off.
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| Load
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In manufacturing, describes the amount of production scheduled against a plant or machine. In warehousing, describes the materials being handled by a piece of equipment. In transportation, describes the materials being transported.
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| Load Factor
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A measure of operating efficiency used by air carriers to determine a plane's utilized capacity percentage or the number of passengers divided by the total number of seats.
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| Load locks
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Adjustable support bars used inside trailers to prevent movement of the load. A.k.a load bars, cargo bars
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| Load Tender (Pick-Up Request)
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An offer of cargo for transport by a shipper. Load tender terminology is primarily used in the motor industry.
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| Load Tendering
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The practice of providing a carrier with detailed information and negotiated pricing (the tender) prior to scheduling pickup. This practice can help assure contract compliance and facilitate automated payments (self billing).
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| Loading Allowance
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A reduced rate that carriers offer to shippers and/or consignees who load and/or unload LTL or Any Quantity shipments.
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| Loading Port
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The port where the cargo is loaded onto the exporting vessel. This port must be reported on the Shipper's Export Declaration, Schedule D. Schedule D is used by U.S. companies when exporting to determine which tariff is used to freight rate the cargo for carriers with more than one tariff.
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| LOC
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Please refer Letter of Credit.
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| Local Area Network (LAN)
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A data communications network spanning a limited geographical area, usually a few miles at most, providing communications between computers and peripheral devices.
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| Local Rate
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A rate published between two points served by one carrier.
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| Local Service Carriers
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A classification of air carriers that operate between less-populated areas and major population centers. These carriers feed passengers into the major cities to connect with major carriers. Local service carriers are now classified as national carriers.
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| Localized Raw Material
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A raw material found only in certain locations.
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| Locational Determinant
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The factors that determine a facility's location. For industrial facilities, the determinants include logistics.
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| Locator system
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Locator systems are inventory-tracking systems that allow you to assign locations to your inventory to facilitate greater tracking and the ability to store product randomly. Prior to locator systems, warehouses needed to store product in some logical manner in order to be able to find it (stored in item number sequence, by vendor, by product description, etc.) By using locator systems you can increase space utilization by slotting your product by matching the physical characteristics of the product to a location whose physical characteristics match that of the product. You can also increase productivity by locating fast moving product to closer, more accessible locations, and increase accuracy by separating similar items. Location functionality in software can range from a simple text field attached to an item that notes a single location, to systems that allow multiple locations per item and track inventory quantities by location. Warehouse management systems (wms) take locator systems to the next level by adding functionality to direct the movement between locations. See article on warehouse management systems, also check out my book on inventory accuracy which covers locator systems in more detail. . A.k.a. Location system, bin locations
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| Lockout / Tagout
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The process of disabling (lockout) and identifying (tagout) equipment and energy sources during maintenance or service to prevent injury of personnel from an unexpected startup or power up.
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| Logbook
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A daily record of the hours an interstate driver spends driving, off duty, sleeping in the berth, or on duty but not driving.
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| Logistics
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The process of planning, implementing, and controlling procedures for the efficient and effective storage of goods, services, and related information from the point of origin to the point of consumption for the purpose of conforming to customer requirements. This definition includes inbound, outbound, internal, and external movements.
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| Logistics Channel
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The network of supply chain participants engaged in storage, handling, transfer, transportation, and communications functions that contribute to the efficient flow of goods.
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| Logistics Costs
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The factors associated with the acquisition, storage, movement, and disposition of goods.
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| Logistics Data Interchange (LDI)
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A computerized system that electronically transmits logistics information.
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| Logistics Management as defined by the Council of Supply Chain Management Professionals (CSCMP)
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Logistics management is that part of supply chain management that plans, implements, and controls the efficient, effective forward and reverse flow and storage of goods, services, and related information between the point of origin and the point of consumption in order to meet customers' requirements. Logistics management activities typically include inbound and outbound transportation management, fleet management, warehousing, materials handling, order fulfillment, logistics network design, inventory management, supply/demand planning and management of third party logistics services providers. To varying degrees, the logistics function also includes sourcing and procurement, production planning and scheduling, packaging and assembly, and customer service. It is involved in all levels of planning and execution - strategic, operational, and tactical. Logistics management is an integrating function which coordinates and optimizes all logistics activities with other functions, including marketing, sales, manufacturing, finance, and information technology.
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| Long Ton
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2,240 pounds.
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| Longitudinal flue space
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Term used by fire codes to describe the space between the rows of back-to-back racking. Flue spaces allow the water from an overhead sprinkler system to reach lower levels of the rack. Normally a longitudinal flue space of at least 6 inches is required. It is important to note that the flue space is measured as the distance between the loads, not the distance between the racks. Also see transverse flue space see article warehouse fire safety,
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| Lot Control
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A set of procedures (e.g., assigning unique batch numbers and tracing each batch) used to maintain lot integrity from raw materials, from the supplier through manufacturing to consumers.
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| Lot for lot
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An order method that is driven by forecast periods. Order quantities will match demand in each specific forecast period.
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| Lot Size
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The quantity of goods a company purchases or produces in anticipation of use or sale in the future.
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| LTL
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Less-than-truckload (see separate listing)
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| LTL
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Please refer Less-Than-Truckload Carriers.
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| LTL shipment
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A less-than-truckload shipment, one weighing less than the minimum weight a company needs to use the lower truckload rate.
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| Lumping
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When a driver assists with loading and unloading the trailer contents.
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