A question I've asked before and that comes up a lot is this: when do you use Guidance Chips and when do you use Long Range Scanners? Why get Long Range Scanners at all when Guidance Chips exists? Isn't Guidance Chips just plain better?
The short answer is no.
As for the long answer:
For a two die ship, Guidance Chips gives a flat boost to your damage: zero hits becomes one, one hit becomes two. Long Range Scanners switches your target lock range from inside Range 1 to 3 to outside Range 1 to 2. This has significant mechanical ramifications for the alpha strike.
For lower PS ships, Long Range Scanners can make the difference as to if you get an ordnance shot at all. This is down to the movement order. Consider a low PS ship an a high PS ship. They end Round 1 outside of firing range of each other. In Round 2, the low PS ship moves first, is still out of range and thus can't target lock. It can focus, but that doesn't let you fire ordnance without Deadeye. The high PS ship then moves into range. This means on Round 2 (the first round of shooting in this example) the lower PS ship can't get a Target Lock, meaning it can't fire its missiles until Round 3. In that time the higher PS ship can race to close range (it it reaches Range 1 then R2-3 ordnance can't be fired at it) or maybe even PS kill the low PS ordnance boat outright.
So is LRS versus GC a choice of higher damage versus being able to get a lock at all higher Pilot Skill ships? Not quite. As Long Range Scanners leads to you taking a target lock on the round before your first round of shooting your action on the round you fire your missiles isn't spent target locking. This means you can take Focus instead. Put another way, taking LRS over GC means you get a focus token on the alpha strike that you wouldn't have with GC.
How much of a difference does that Focus Token make? See for yourself.
For a four die ordnance attack that focus token is actually slightly better than Guidance Chips. For Homing Missiles where you can also spend the Target Lock to modify that bonus is even higher. it's not much, but for a four die attack on the first round of shooting a properly used LRS is a hair better than Guidance Chips for damage.
LRS gives low PS ships a chance to get locks on high PS targets and performs a smidge better on the the alpha strike, so why would you take GC? LRS does have its setbacks: it can't lock at close range, so Guidance Chips are better for continuing to use ordnance in a dogfight, so ships packing enough ordnance for a whole fight will probably want Guidance Chips. It also telegraphs your target ahead of time, so if you're likely to be able to reliably acquire a lock you probably want the chips too: TL + GC and F + TL do very similar damage, but GC doesn't require you to telegraph your target a round in advance. Finally, if you can get the Focus Target Lock combo on the first round of shooting without LRS you're definitely better off with GC: LRS is reliant on giving you a focus token you wouldn't otherwise have to compete with GC on damage.
To summarise, Guidance Chips and LRS do similar damage on the first round (with a slight edge to LRS), so which is superior depends on the pilot skill of the ship, its payload and what the plan is after the alpha strike.
EDIT:
For three die ordnance, GC is slightly favoured.