A - B | C | D | E - G | H - K | L - R | S - Z
L
L&D - Loss and damage.
Lane analysis - The study of traffic between two points.
LCL - Less than railcar load or less than container load.
Line haul - A movement between major terminals over 100 to 150 mile in distance.
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 - Managing the flow of inbound, interplant, and outbound materials.
LTL - Less than truckload, a shipment weighing less than the minimum weight needed to use the lower truckload rate.
Lumping - A term applied to a person who assists a motor carrier owner-operator in the loading and unloading of property; quite commonly used in the food industry.
M
Materials handling - The managing of the flow of materials in a specific area (for example, an assembly plant or a warehouse).
Materials management - The managing of the flow of material over a wide geographic area.
Material requirements planning (MRP) - A computer-assisted method of managing production inventory.
O
Operating ratio - An accounting performance measure in which a firm’s operating costs are divided by its operating revenues and then multiplied by 100.
Order bill of lading - A negotiable document that must be properly endorsed before the carrier will surrender freight.
Order cycle - The elapsed time between placing and receiving an order to shipping it and billing the customer.
Order processing - The steps from receiving an order to shipping it and billing the customer.
Outsourcing - Going outside a firm to buy services or materials, sometimes from nonunion suppliers.
Over-the-road - A motor carrier operation that reflects long distance, intercity moves; the opposite of local operations.
Owner-operator - Truckers who own and drive they own rigs.
P
Pallet - A small platform, usually forty inches by forty-eight inches and made of wood, on which goods are placed for handling in warehouses and storerooms.
Per diem - The rate of payment for use by the railroad of the cars of another.
Physical distribution management - Controlling the flow of a product from the end of the assembly line to the retail flatcar.
Piggyback - A trailer carried on a rail flatcar.
Pilferage - The stealing of cargo on a casual basis.
R
Reefer - Slang for a refrigerated railcar, trailer, or container.
Released value - A shipper agrees to limit a carrier’s liability on a per-pound basis in return for a lower rate.
