Supply Chain Glossary / Letter L

Glossary — Letter L

4 supply chain, inventory, and fulfillment terms starting with L. Plain-English definitions for e-commerce merchants.

Landed Cost
The total cost of a product including purchase price, shipping, customs duties, insurance, and all other charges to deliver it to your warehouse.
Last In, First Out (LIFO)
An inventory accounting method where the most recently received inventory is recorded as sold first, affecting cost of goods sold calculations.
Last-Mile Delivery
Last-Mile Delivery: a key concept in supply chain and ecommerce fulfillment for Shopify brands.
Lead Time
The total time between placing a purchase order with a supplier and receiving the goods at your warehouse.
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