Lattice Boltzmann (LB) methods are usually developed on cubic lattices that discretize the configuration space using uniform grids. For efficient computations of anisotropic and inhomogeneous flows, it would be beneficial to develop LB algorithms involving the collision-and-stream steps based on orthorhombic cuboid lattices. We present a new 3D central moment LB scheme based on a cuboid D3Q27 lattice. This scheme involves two free parameters representing the ratios of the characteristic particle speeds along the two directions with respect to those in the remaining direction, and these parameters are referred to as the grid aspect ratios. Unlike the existing LB schemes for cuboid lattices, which are based on orthogonalized raw moments, we construct the collision step based on the relaxation of central moments and avoid the orthogonalization of moment basis, which leads to a more robust formulation. Moreover, prior cuboid LB algorithms prescribe the mappings between the distribution functions and raw moments before and after collision by using a moment basis designed to separate the trace of the second order moments (related to bulk viscosity) from its other components (related to shear viscosity), which lead to cumbersome relations for the transformations. By contrast, in our approach, the bulk and shear viscosity effects associated with the viscous stress tensor are naturally segregated only within the collision step and not for such mappings, while the grid aspect ratios are introduced via simpler pre- and post-collision diagonal scaling matrices in the above mappings. These lead to a compact approach, which can be interpreted based on special matrices. It also results in a modular 3D LB scheme on the cuboid lattice, which allows the existing cubic lattice implementations to be readily extended to those based on the more general cuboid lattices. To maintain the isotropy of the viscous stress tensor of the 3D Navier–Stokes equations using the cuboid lattice, corrections for eliminating the truncation errors resulting from the grid anisotropy as well as those from the aliasing effects are derived using a Chapman–Enskog analysis. Such local corrections, which involve the diagonal components of the velocity gradient tensor and are parameterized by two grid aspect ratios, augment the second order moment equilibria in the collision step. We present a numerical study validating the accuracy of our approach for various benchmark problems at different grid aspect ratios. In addition, we show that our 3D cuboid central moment LB method is numerically more robust than its corresponding raw moment formulation. Finally, we demonstrate the effectiveness of the 3D cuboid central moment LB scheme for the simulations of anisotropic and inhomogeneous flows and show significant savings in memory storage and computational cost when used in lieu of that based on the cubic lattice.