Labor Management System (LMS)
Definition - What does Labor Management System (LMS) mean?
Techopedia explains Labor Management System (LMS)
LMS tools can measure things like inventory, use of equipment and movement within a business facility. All of these data points are put together to allow businesses to micromanage labor.
One issue with LMS is cost. With so many other tech tools available to businesses, and so many other demands on corporate budgets, LMS tools can seem unaffordable because they may require a lot of upfront investment. However, some companies have greatly benefited from using these tools to identify productivity bottlenecks and eliminate them. As vendor services continue to evolve, the use of LMS may be one way for businesses to upgrade systems, to keep a competitive edge and to make business more efficient.