lsmd: command not found

Maybe Your $PATH variable doesn't contain the default paths? echo $PATH should give something like:

[root@server ~]# echo $PATH
/usr/local/sbin:/usr/local/bin:/sbin:/bin:/usr/sbin:/usr/bin:/root/bin

If it's empty, You may set the PATH variable with this command

export PATH="/usr/local/sbin:/usr/local/bin:/sbin:/bin:/usr/sbin:/usr/bin:/root/bin"

On CentOS possible default full paths are:

/usr/bin/lsmd - from package: libstoragemgmt

You may install the required package with command yum install {package}

On Debian possible default full paths are:

/usr/bin/lsmd - from package: libstoragemgmtd

You may install the required package with command apt-get install {package}

Error in other languages:
lsmd: bevel nie gevind nie
lsmd: comandă negăsită
lsmd: comando não encontrado
lsmd: commande introuvable
lsmd: command not found
lsmd: käsku ei ole
lsmd: không tìm thấy lệnh
lsmd: komanda nerasta
lsmd: Kommando nicht gefunden.
lsmd: kommandot finns inte
lsmd: komut yok
lsmd: nie znaleziono polecenia
lsmd: níor aimsíodh an t-ordú
lsmd: no se encontró la orden
lsmd: no s'ha trobat l'ordre
lsmd: opdracht niet gevonden
lsmd: parancs nem található
lsmd: perintah tidak ditemukan
lsmd: príkaz nenájdený
lsmd: příkaz nenalezen
lsmd: команда не найдена
lsmd: командата не е открита
lsmd: 命令找不到
lsmd: コマンドが見つかりません