What is a Part Load / LTL or Groupage?

A Part Load or otherwise known in the industry as groupage or a Less than load (LTL) freight is the transportation of products or goods that doesn't require a full truckload (FTL) due to the volume of the transported goods required being smaller than the carrier's transporter vehicle and/or where the nature of the goods is such that it can be transported in a relatively small amount of euro-pallets alongside other goods i.e. it's not time-critical, multi-point deliveries won't compromise the security of the goods.