LBT, which stands for "Localized Bottleneck Theory," is a research area in the field of operations management and supply chain management. LBT focuses on identifying and managing bottlenecks within a supply chain or production system in order to improve efficiency and performance. By localizing and addressing bottlenecks, companies can streamline their operations, reduce delays, and enhance overall productivity. Researchers in this area develop models, tools, and strategies to identify bottlenecks, analyze their impact, and implement solutions to optimize the flow of goods and services within a supply chain.