- Forecast by SKU, cost, item, currencies, margin, country, channel, customer location, etc.
- Drive inventory and safety stock levels according to customer requirements using the Service Level Optimizer
Supply Chain Glossary - L
Supply Chain Glossary - L
- labor cost
- labor efficiency variance
- labor efficiency
- labor grade
- labor ticket also labor claim
- labor usage variance also labor efficiency variance
- labor voucher also labor claim
- laboratory order also experimental order
- laid-down cost
- LAN
- lap phasing also overlapped schedule
- late finish date (LF) or LF
- late order also past due order
- late start date (LS) or LS
- lateness
- law of diminishing marginal returns
- layout
- LBO
- LCL
- lead-time inventory
- lead time
- leading indicator
- lean also lean production
- lean manufacturing also lean production
- lease
- level loading also load leveling
- level production schedule also level schedule
- level strategy also level production method
- leveling also resource leveling
- leverage-capital structure ratio
- leveraged buyout (LBO) or LBO
- LF
- licensing
- life cycle analysis
- life-cycle costing
- life testing
- LIFO
- lightless plant also dark factory
- LIMIT
- limited liability company
- limited life material
- limited partnership
- line item
- line loading
- line manager
- line manufacturing
- line of credit
- linear decision rules
- linear layout
- linear production
- linearity
- liquidity ratio
- liquidity
- listserve also listserver
- listserver
- live load also available work
- load center also work center
- load profile
- load projection also load profile
- local area network (LAN) or LAN
- local measures
- location audit
- locator file
- locator system
- log normal distribution
- logistics system
- long-term planning
- loose standard
- loss leader pricing
- lot control
- lot cost
- lot number traceability
- lot number
- lot operation cycle time
- lot-size code
- lot-size inventory management interpolation technique (LIMIT) or LIMIT
- lot-size inventory
- lot-size system also fixed reorder quantity inventory model
- lot size
- lot sizing
- lot splitting
- lot tolerance percent defective (LTPD) or LTPD
- lot traceability
- lot
- lower control limit (LCL) or LCL
- lower specification limit (LSL) or LSL
- LS
- LSL
- LTL
- LTPD
- lumpy demand also discontinuous demand
labor efficiency variance
Labor efficiency variance is (actual number of hours worked minus standard number of hours worked) times standard labor wage rate. The variance is unfavorable if the actual hours exceed the standard hours. Syn: labor usage variance.
Labor rate variance is (actual wage rate minus standard wage rate) times actual number of labor hours. The variance is unfavorable if the actual rate is greater than the standard rate.
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