LOGISTICS CHAIN

In a particular environment or industry, these are all successive steps comprising a logistic process.

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LOGISTICS CHANNEL

Receiving, handling, storage, transportation, and communications functions as the focus of all networked participants in a supply chain.

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LOGISTICS MANAGEMENT

Efficient, cost-effective movement of goods and personnel by applying management principles to logistics operations.

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LOGISTICS SUPPORT

Equipment, facilities, spares, technical information, and trained personnel procurement and distribution for a campaign, plan, or project as essential actions for their proper operation.

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LOG-ROLLING

A mischievous legislative practice, of embracing in one bill several distinct matters, uone of which, perhaps, could singly obtaiu the assent of the legis- lature, aud then procuring its passage by a combination of the minorities in favor of each of the measures into a majority that will adopt them all. Walker v. Griilith, 00 Ala. 369; Com. v. Rarnet, 199 Pa. 101, 48 Atl. 970, 55 L. R. A. 882; O’Leary v. Cook County, 28 111. 534; St. Louis v. Tiefel, 42 Mo. 590.

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LOGIUM

In old records. A lodge, hovel, or outhouse.

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LOGARITHM (LOG)

Inverse of an exponential. Raising the base to a power to give another number. Base 10 logarithm is known as common logarithm.

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LOGNORMAL DISTRIBUTION

A report where asset prices distribution is calculated using a random variable to show how the market can change. Refer to normal distribution.

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LOGARITHMIC SCALE

Measure of unit increase or decrease that is actually a tenfold increase or decrease in the quantity measured. For example, a pH reading of 5 pH indicates 10 times the acidity of 4 pH, and 100 times the acidity of 3 pH; 1/10th the acidity of 6 pH, and 1/100th the acidity of 7 pH. (Refer to pH scale.)

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LOGO

Consumer identifier, recognizable and distinctive. Solely for identifying an organization, not a product, it is a graphic design, stylized name, unique symbol, or other device. Also known as logotype. Appearing on all advertising, buildings, communications, literature, products, stationery, and vehicles, it is obvious, affixed, included, or printed. Contrast to a brand, which identifies a product or family of products.

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