Abc analysis: a classification of items in an inventory according to importance defined in terms of criteria such as sales volume and purchase volume. Abc classification

LTL shipment: A less-than-truckload shipment, one weighing less than the minimum weight a company needs to use the lower truckload rate.
Lumping: When a driver assists with loading and unloading the trailer contents.
M
Machine Downtimes: Time during which a machine cannot be utilized. Machine downtimes may occur during breakdowns, maintenance, changeovers, etc.
Macro Environment: The environment external to a business, including technological, economic, natural, and regulatory forces that marketing efforts cannot control.
Maintenance, Repair, and Operating Supplies (MRO): Items used in support of general operations and maintenance, such as maintenance supplies, spare parts, and consumables used in the manufacturing process and supporting operations.
Major Carrier: A for-hire certificated air carrier that has annual operating revenues of $1 billion or more; the carrier usually operates between major population centers.
Make-or-Buy Decision: The act of deciding whether to produce an item internally or buy it from an outside supplier. Factors to consider in the decision include costs, capacity availability, proprietary and/or specialized knowledge, quality considerations, skill requirements, volume, and timing.
Make to Order (Manufacture to Order): A manufacturing process strategy where the trigger to begin manufacture of a product is an actual customer order or release rather than a market forecast. For make-to-order products, more than 20% of the value added takes place after the receipt of the order or release, and all necessary design and process documentation is available at the time of order receipt.
Make to Stock (Manufacture to Stock): A manufacturing process strategy where finished product is continually held in plant or warehouse inventory to fulfill expected incoming orders or releases based on a forecast.
Management of All Logistics: The effective management of all costs associated with logistics functions and activities so as to minimize their sum across the product supply chain.
Manifest: A document which describes individual orders contained within a shipment.
Manufacture Cycle Time: The average time between commencement and completion of a manufacturing process, as it applies to make-to-stock products.
Calculation: [Average # of units in WIP]/[Average daily output in units]