Laboratory Information Management Systems

(LIMS)

LIMS are computer systems which help manage activity in laboratory, including the flow of samples, connectivity to automated instruments, the data related to samples, and results reporting. LIMS can be used both in laboratories closely connected to production, for example regular sample testing in food production, and also in more independent laboratory environments.

Landing Gear

In aviation, the landing gear or undercarriage is the structure (usually including wheels equipped with shock absorbers) that supports an aircraft on the ground and allows it to taxi.

Last In First Out

(LIFO)

LIFO is a strategy used in material handling and storage. In the LIFO model, the most recently stored items in a location are the first taken out. LIFO can be efficient and practical in transportation (trucks, rail cars, containers), and can be used in storage if goods do not deteriorate over time, and it saves time or cost to store and retrieve an item from one side of a storage location. LIFO is the opposite of First In First Out (FIFO).

Launch Systems

A launch system is a vehicle designed to carry a payload into space. The vehicle typically consists of several rocket stages, discarded one by one as the vehicle gains altitude and speed. The earliest launch systems were treated as expendable, but from the time of the space shuttle (first launched in 1981), there has been interest and some development of launch systems which can be reused.

Lead Logistics Provider

(LLP)

LLP (sometimes also referred to as a 4PL or Fourth Party Logistics Provider) is an integrator that assembles the resources, capabilities, and technology of its own organization and other organizations to design and deliver supply chain solutions. A typical LLP uses a 3PL to supply service to customers, owning only computer systems and intellectual capital.

Lead time

Lead time is the period between a customer’s order and delivery of the final product. A small order of a pre-existing item may only have a few hours lead time, but a larger order of custom-made parts may have a lead time of weeks, months or even longer. Lead time may change according to seasons or holidays or overall demand for the product.

Lean Manufacturing

Lean Manufacturing is a technology and business process-driven strategy for reducing unnecessary activity in the manufacturing environment. The concept involves deliberate, continuous and if possible systematic identification and elimination of unnecessary activities and inefficiencies. These are referred to as ‘wastes’ and include: poor job scheduling (leaving staff waiting around between job), performing too much work on components (more than the customer needs) and unnecessary movement of inventory around the facility (wasting time and resources).

Less than Truck Load

(LTL)

Less than Truck Load, also known as Less-Than-Load, is a type of shipping service for small to medium quantities of freight. LTL providers fill the gap between parcel services and large-scale transportation providers. LTL companies combine loads from several different companies onto one truck, and often operate a hub-and-spoke model to reduce shipping costs.

Light Commercial Vehicle

Although the exact definition may vary slightly from region to region, light commercial vehicles are those trucks, vans and pickups which have a gross vehicle weight (GVW) below a certain weight. For example, to meet this description in Europe the maximum total weight of the vehicle and its load must not exceed 3.5 tonnes.

Liquefied Natural Gas

(LNG)

LNG is a clear, colorless liquid made by cooling natural gas to about -163 degrees centigrade. Natural gas is composed mainly of methane and ethane, and can be used as a fuel. It is extracted from oil and gas wells, and is also found in wetlands and from anthropogenic sources that include landfills and agricultural operations. When cooled and liquefied, it takes up only a tiny fraction of the volume of the gaseous form, so can be transported efficiently.

Logistics

Logistics is the management of the flow of resources from source to destination to meet the needs of in-house operations, customers, and consumers. Logistics is usually seen as part of supply chain management, and is often separated into inbound logistics (obtaining supplies) and outbound logistics (distribution of products).

Logistics Providers

Logistics providers are third parties who provide a range of services to manufacturers, wholesalers and retailers that includes transport, storage and distribution.

Logistics Service Providers

Logistics Service Providers are companies that provide transportation and/or storage capabilities and sometimes associated services such as freight forwarding. When Logistics Service Providers expand their offer to include broader supply chain responsibility, they become known as 3PL or 4PL providers.

Lost Time Incident Rate (LTIR)

A lost time accident is an incident that has resulted in an employee needing to miss work due to sustaining an injury while working.

The formula for calculating LTIR is:

(LTI / Total # of Hours in Measured Period) x 200,000

Divide the total amount of lost time injuries in a specific period by the total number of hours worked in that same period. Then multiple by 200,000 – this represents 100 employees working a 40 hour week for 50 weeks per year (this is the generally accepted baseline of LTI established by OSHA).