Glossary

Now what exactly was …? The world of logistics is full of technical terms, and new terms are constantly being added. Our glossary explains them all in a nutshell. If a term you are looking for is not listed here, please don't hesitate to contact us. We'll be happy to add your technical term to our list.



Entries beginning with «l»

Label

Slip of e.g. paper or metal attached to an object to indicate the nature, ownership, destination, contents and/or other particulars of the object.

Liability

Legal responsibility for the consequences of certain acts or omissions.

LIFO
Last in / first out

Method of which the assumption is that the most recently received (last in) is the first to be used or sold (first out).

LLP
Lead Logistics Provider

› cf. 4PL Provider (Fourth-Party Logistics Provider)

Load unit

Load units are the basis of transport chains and are used to refer to batches of goods, usually of a similar kind, which have been consolidated, ideally on a standardized load carrier (e.g. a Europallet), for the purpose of transportation, transshipment or warehousing.

Logistics

Logistics is the process of planning, implementing and managing the transportation and storage of goods in the most efficient and cost-effective way. It applies to raw materials, semifinished and finished products, and also to related information. Transportation from the point of origin to the point of consumption is carried out at the customer's request. Logistics is, in essence, the art and the science of getting the right goods in the right condition and quantity to the right place at the right time, and all this at the lowest possible expense. Traditionally, the term logistics referred mainly to warehousing and transport, but now also encompasses added-value/pre-retailing services and IT solutions for domestic, international, inbound, outbound and reverse product flows.

LSP
Logistics service provider

An organization that offers 3PL or 4PL services.

› cf. 4PL (Fourth Party Logistics Provider)

› cf. 3PL (Third party logistics provider)

LTL
Less than truckload

A shipment that does not fill a standard truck.

› cf. Full truck load (FTL)