The total cost of a product delivered at a given location; the production cost plus the transportation cost to the customer's location.
Lash barges
Covered barges that carriers load on board oceangoing ships for movement to foreign destinations.
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.
Letter of Credit
An instrument of payment, issued by the buyer's bank, that ensures payment to the seller.
Liner
A cargo-carrying ship which is operated between scheduled, advertised ports of loading and discharge on a regular basis.
Liner Service
Vessels operating on fixed itineraries or regular schedules and established rates available to all shippers. The freight rates which are charged are based on the shipping company's tariff or if the company is a member of a liner conference, the tariff of that conference.
Lloyd's Register Of Shipping
British classification society.
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.
