Supply Chain Glossary – L Letter

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Description

  • Lean Manufacturing: Lean manufacturing focuses on minimizing waste and maximizing efficiency in production processes.
  • Lead Time: Lead time is the time it takes to complete a process or deliver a product, including order processing and production.
  • Logistics Management: Logistics management involves planning, implementing, and controlling the efficient movement and storage of goods.
  • Lifecycle Analysis: Lifecycle analysis assesses the environmental impact of a product or process from production to disposal.
  • Leverage: Leverage refers to using resources or strategies to achieve more significant results or competitive advantages.
  • Labor Productivity: Labor productivity measures the output or value generated by labor input in manufacturing or service operations.
  • Load Balancing: Load balancing optimizes resource allocation to ensure even distribution of work in a system.
  • Last Mile Delivery: Last mile delivery focuses on the final stage of delivering products to the end customer, often involving challenges in urban areas.
  • Lead Logistics Provider (LLP): An LLP manages and coordinates various logistics services within a supply chain network.
  • Lifecycle Cost: Lifecycle cost considers all costs associated with a product or asset over its entire lifespan, including maintenance and disposal.
  • Lean Six Sigma: Lean Six Sigma combines Lean principles and Six Sigma methodologies to improve quality and efficiency.
  • Lot Size: Lot size determines the quantity of a product or material ordered or produced in a single batch.
  • Line Balancing: Line balancing optimizes the allocation of tasks or workstations in a production line for even work distribution.
  • Logistics Network: A logistics network consists of suppliers, warehouses, distribution centers, and transportation routes used to move goods.
  • Logistics Outsourcing: Logistics outsourcing involves contracting third-party providers to manage supply chain and distribution activities.
  • Lowest Cost Sourcing: Lowest cost sourcing seeks suppliers offering the most cost-effective materials or components.
  • Lead Logistics Provider (4PL): A 4PL is a higher-level logistics provider that manages multiple 3PLs (third-party logistics providers).
  • Lifecycle Management: Lifecycle management encompasses planning and monitoring a product’s entire lifecycle, from development to retirement.
  • Lean Principles: Lean principles emphasize reducing waste, improving efficiency, and enhancing value in manufacturing and services.
  • Logistics Performance Metrics: Logistics performance metrics measure the effectiveness and efficiency of supply chain and logistics operations.
  • Logistics Technology: Logistics technology includes software and tools that enhance visibility, efficiency, and decision-making in logistics.
  • Loss Prevention: Loss prevention strategies aim to reduce theft, damage, or loss of products within supply chain and retail operations.
  • Lead Time Variability: Lead time variability measures the inconsistency or unpredictability in the time it takes to fulfill orders or tasks.
  • Logistics Cost Analysis: Logistics cost analysis evaluates expenses associated with transportation, warehousing, and distribution.
  • Load Planning: Load planning optimizes the arrangement of products or cargo within transport vehicles for efficient delivery.
  • Long-Term Supplier Relationships: Long-term supplier relationships build trust and collaboration with key suppliers to ensure reliability.
  • Logistics Performance Improvement: Logistics performance improvement focuses on enhancing supply chain efficiency, reducing costs, and meeting customer demands.
  • Local Sourcing: Local sourcing involves procuring materials or products from nearby suppliers to reduce transportation costs and support local economies.
  • Lead Time Reduction: Lead time reduction strategies aim to decrease the time it takes to deliver products or services to customers.
  • Lean Inventory Management: Lean inventory management minimizes excess inventory levels while maintaining product availability.
  • Logistics Optimization: Logistics optimization uses data and technology to improve supply chain processes, reducing costs and enhancing performance.
  • Logistics Collaboration: Logistics collaboration involves working closely with partners and stakeholders to achieve supply chain goals.