Warehouse Dictionary
Lading thru LTL shipment
L
- Lading
- The cargo carried in a transportation vehicle.
- Land bridge
- 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.
- Landed Cost
- Cost of product plus relevant logistics costs, such as transportation, warehousing, handling, etc. Also called Total Landed Cost of Net Landed Costs.
- Lash Barges
- Covered barges that carriers load on board oceangoing ships for movement to foreign destinations.
- LASH Vessel
- 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.
- Last In First Out (LIFO)
- 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.
- Last Mile
- Description for the final leg of home delivery, where the carrier, courier (or delivery agent) is responsible for final handover to the customer.
- Last Updated
- A date and time stamp that is recorded when a field or record was last modified by the user.
- Lead Logistics Provider (LLP)
- An organization that organizes other third party logistics partners for outsourcing of logistics functions.
- 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.
- Lead time demand
- demand for an item during its lead time
- Lean strategy
- a business strategy that aims at doing every operation using the least possible resource – people, space, stock, equipment, time, etc.
- Leg
- A leg has an origin, destination, and carrier and is composed of all consecutive segments of a route booked through the same carrier
- Less-Than-Carload (LCL)
- Shipment that is less than a complete rail car load (lot shipment).
- Less-Than-Containerload (LCL)
- A term used when goods do not completely occupy an entire container. When many shippers’ goods occupy a single container, each shipper’s shipment is considered to be LCL.
- Less-Than-Truckload (LTL) Carriers
- Trucking companies that consolidate and transport smaller (less than truckload) shipments of freight utilizing a network of terminals and relay points.
- Less-Than-Truckload (LTL)
- Trucking companies that consolidate and transport smaller (less than truckload) shipments of freight by utilizing a network of terminals and relay points.
- Lessee
- A person or firm to whom a lessor grants a lease.
- Lessor
- A person or firm that grants a lease.
- Letter of Credit (LOC)
- 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.
- License Plate Number (LPN)
- A document, tag, or label used to identify a unitized load.
- Life Cycle Cost
- 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.
- Lighter
- 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.
- Lighterage
- The cost of loading or unloading a vessel by means of barges.
- Line Functions
- The decision-making areas companies associate with daily operations. Logistics line functions include traffic management, inventory control, order processing, warehousing, and packaging.
- Line Item
- A specific and unique identifier assigned to a product by the responsible enterprise.
- Liner Service
- International water carriers that ply fixed routes on published schedules.
- Link
- The transportation method a company uses to connect nodes (plants, warehouses) in a logistics system.
- Local Area Network (LAN)
- A data communications network spanning a limited geographical area, usually a few miles at most, providing communications between computers and peripheral devices.
- Loading Allowance
- A reduced rate that carriers offer to shippers and/or consignees who load and/or unload LTL or Any Quantity shipments.
- Loading Port
- 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.
- Locational Determinant
- The factors that determine a facility’s location. For industrial facilities, the determinants include logistics.
- Location master file
- File maintained by a WMS that contains the quantity of the item available at each storage location in the warehouse. Used together with the inventory master file to control material transport operations.
- Locator System
- 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.)
- Logbook
- A daily record of the hours an interstate driver spends driving, off duty, sleeping in the berth, or on duty but not driving.
- Logistics
- 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.
- Logistics Center
- locations in the supply chain for performing logistic activities, often including stocks and warehousing
- 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 Costs
- The factors associated with the acquisition, storage, movement, and disposition of goods.
- Logistics Data Interchange (LDI)
- A computerized system that electronically transmits 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, 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.
- Long Ton
- 2,240 pounds.
- Lost sales
- when customer demand cannot be met, and the customer withdraws their demand (perhaps moving to another supplier)
- Lot
- A production run or batch that can be isolated from other runs and identified with a specific set of material, production facility and process characteristics.
- Lot Control
- 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.
- Lot sizing
- combining several small orders into larger ones for MRP
- Lot Tracking
- The process of tracking a given material lot up (into upper level items and customer/interplant orders) or down (into the lower level lots it consumed when produced, or the lot received from a vendor). Physical and system controls are required to provide the true source and destination of a given lot in a product recall or similar situation.
- Lot-for-lot
- a very basic lot sizing method that uses demand during the specified planning time period (time bucket) as the lot size. In most cases the planning periods would be your forecast periods, therefore your lot would be equal to the net demand in the forecast period in which the order is planned on being received.
- LTL shipment
- A less-than-truckload shipment, one weighing less than the minimum weight a company needs to use the lower truckload rate.