The laboratory information system (LIS) is a system used in a laboratory to track everything that happens in a lab. Most companies use a combination of paper and electronic logs to track everything from specimen arrival to machine maintenance. Storing the information of what happened to a specimen as it goes through the lab is not only essential, but are required by most laboratory accreditation organizations.
While I worked for Caris Lifesciences, every single thing we did in the lab was tracked via LIS, MS Sharepoint, or by pen and paper logs. This was key to being able to find cases if there were problems at any point during the process. Dutiful use of these systems provide many audit points to make sure nothing is lost in the process, and if something does go missing, this provides a great starting point to finding it. There are also many points during the process that mistakes in labeling or specimen handling can be caught before they become a problem.
Another product of using a system that tracks everything is that you get to run statistics on how the process is working. This can allow further refinements to streamline efficiency. With all that data at your disposal significant findings can be found by data mining.