LPI meaning in Business ?

Answer:

What is Logistics Performance Index mean?

The Logistics Performance Index (LPI) is an interactive benchmarking tool created by the World Bank to help countries identify the challenges and opportunities they face in their performance on trade logistics and what they can do to improve their performance. It is the weighted average of the country scores on six key dimensions: customs performance, infrastructure quality, ease of arranging shipments, logistics services quality, consignments tracking and tracing and timeliness of shipments. This measure indicates the relative ease and efficiency with which products can be moved into and inside a country. Germany and Sweden are the most efficient and highest ranked LPI countries as per the 2018 LPI.

The Logistics Performance Index is reported by the World Bank in every two years. The LPI is based on a worldwide survey of stakeholders on the ground providing feedback on the logistics "friendliness" of the countries in which they operate and those with which they trade. They combine in-depth knowledge of the countries in which they operate with informed qualitative assessments of other countries where they trade and have experience of global logistics environment.

LPI results have been used in many policy reports and documents prepared by multilateral organizations and findings from the index provide a worldwide general benchmark for thelogistics industry and for logistics users. LPI results have also been embraced by the academic community.

reference

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