|
Lading
The cargo carried in a transportation vehicle
Laid-down cost
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.
Landed Cost
Cost of product plus relevant logistics costs such as
transportation, warehousing, handling, etc. Also called Total
Landed Cost or Net Landed Costs
Last In, First Out (LIFO)
Accounting method of valuing inventory that assumes latest
goods purchased are first goods used during accounting period
Lead Logistics Partner (LLP)
An organization that organizes other 3rd party logistics
partners for outsourcing of logistics functions. Also see:
Fourth Party Logistics
Lead Time
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.
Less-Than-Carload (LCL)
Shipment that is less than a complete rail car load (lot
shipment).
Less-Than-Truckload (LTL) Carriers
Trucking companies that consolidate and transport smaller
(less than truckload) shipments of freight by utilizing a
network of terminals and relay points.
Letter of credit
An international business document that assures the seller
that payment will be made by the bank issuing the letter of
credit upon fulfillment of the sales agreement
Life Cycle Cost
In cost accounting, 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.
Logistics Channel
The network of supply chain participants engaged in storage,
handling, transfer, transportation, and communications
functions that contribute to the efficient flow of goods.
Logistics data interchange (LDI)
A computerized system to electronically transmit logistics
information.
Logistics Management
As defined by the Council of Supply Chain Management
Professionals (CSCMP): “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, |
