Vehicle On Wheel

Amount of a carrier’s liability expressed by a dollar value placed on a shipment by the shipper that specifies the carrier’s maximum liability in the event of a covered claim for losses or damages.

The exchange worth rate for goods and services on the open market.

Assessing the relative value of activities according to how they contribute to customer value or to meeting an organization's needs. The degree of contribution reflects the influence of an activity's cost driver(s) .

A measure of the creation of value. It is the difference between economic profit and capital charge.

A series of activities, when combined, define a business process; the series of activities from manufacturers to the retail stores that define the industry supply chain.

‘The total dollar value (for the calendar year) associated with movement of inventory from one ”bucket” into another, such as raw material to work-in-process, work-in-process to finished goods, plant finished goods to field finished goods or customers, and field finished goods to customers. Value of Transfers is based on the value of inventory withdrawn from a certain category and is often approached from a costing perspective, using cost accounts. For example, Raw Materials Value of Transfers is the value of transfers out of the raw material cost accounts (you may have cost centers associated with inventory locations, but all ”raw ingredients” usually share common cost accounts or can be rolled up into one financial view). The same goes for WIP. Take the manufacturing cost centers and look at the total value of withdrawals from those cost centers. While Average Gross Inventory represents the value of the inventory in the cost center at any given time, the Value of Transfers is the total value of inventory leaving the cost center during the year. The value of transfers for Finished Goods is, in theory, equivalent to COGS.’

All activities, both value added and nonvalue added, required to bring a product from raw material state into the hands of the customer, bring a customer requirement from order to delivery and bring a design from concept to launch.

Entities that transforms inputs to outputs that are of value to the customer, f.e. they are willing to pay for and that involve no correction or rework.

Contribution made by employees to total product revenue minus the material purchases divided by total employment. Total employment is total employment for the entity being surveyed. This is the average full-time equivalent employee in all functions, including sales and marketing, distribution, manufacturing, engineering, customer service, finance, general and administrative, and other. Total employment should include contract and temporary employees on a full-time equivalent (FTE) basis.Calculation: Total Product Revenue-External Direct Material/[FTEs]

Assessing the relative value of activities according to how they contribute to customer value or to meeting an organization’s needs. The degree of contribution reflects the influence of an activity’s cost driver(s).

Pricing according to the value of the product the company is transporting; third-degree price discrimination; demand-oriented pricing; charging what the traffic will bear.

The individual(s) responsible for the operation of a tractor and for the loading, transportation and unloading of shipments. Also referred to as a driver.

Monitoiring processes and detecting problems at an early stage so that corrective action can be taken to avoid quality - and time related waste.

Value Added Tax

see Value-Based Management

St. Vincent & The Grenadines (Flag)

Volume Correction Factor

Vinyl Chloride Monomer. Gas occasionaly carried by LPG tankers. Highly cancerogen, heard that the German allows a crew to carry the gas only once in their carreer. Classified as flamable, toxic and polymerizable.

Voyage Data Recorder

SAID [sic] of the wind when it changes. Also, to slack a cable and let it run out. (See PAY.) To veer and haul, is to haul and slack alternately on a rope, as in warping, until the vessel or boat gets headway.

Rate of product movement through a warehouse.

a unique identifier, usually a number and sometimes the company's DUNS number, assigned by a customer for the vendor it buys from. Example: a grocery store chain buys Oreo cookies from Nabisco. For accounting purposes, the grocery store chain identifies Nabisco as Vendor #76091. One company can have multiple vendor codes. Example: Welch's Foods sells many different products - frozen grape juice concentrate, chilled grape juice, bottled grape juice, and grape jelly. Because each of these items is a different type of product (frozen food, chilled food, beverages, dry food) , they may also have a different buyer at the grocery store chain, requiring a different vendor code for each product line.

See Consignment Inventory

The practice of retailers making suppliers responsible for determining order size and timing, usually based on receipt of retail POS and inventory data. Its goal is to increase retail inventory turns and reduce stock outs. Its goal is to increase retail inventory turns and reduce stock outs. It may or may not involve consignment of inventory (supplier ownership of the inventory located at the customer).

The degree to which a firm has decided to directly produce multiple value-adding stages, from raw material to the sale of the product to the ultimate consumer. The more steps in the sequence, the greater the vertical integration. A manufacturer that decides to begin producing parts, components, and materials that it normally purchases is said to be backward integrated. Likewise, a manufacturer that decides to take over distribution and perhaps sale to the ultimate consumer is said to be forward integrated.

Space consumed by unit clearance between columns, stacks, posts, walls or other warehousing elements.

A floating structure designed for transport.

Vehicles Ferry.

Very High Frequency

Vessel Identification System.

Vietnam Register

A changed transformation process most frequently found under the virtual corporation. It's a transformation process that involves merging the capabilities and capacities of the firm with those of its suppliers. Typically, the components provided by the suppliers are hose that are not related to a core competency of the firm, while the components managed by the firm are related to core competencies. One advantage found in the virtual factory is that it can be restructured quickly in response to changing customer demands and needs.

The shared perception of the organization's future - what the organization will achieve and a supporting philosophy. This shared vision must be supported by strategic objectives, strategies, and action plans to move in in the desired direction.Synonym: Vision Statement.

Very Large Crude Carrier

Vietnam (Flag)

Vessel Operating Carrier

Systems which guide users such as warehouse personnel via voice commands.

The expressed requirements and expectations of customers relative to products or services, as documented and disseminated to the members of the providing organization.

Honeycomb in a unitized load caused by failure to utilize the loading area at 100 percent efficiency.

The retail industry standards body responsible for the CPFR standard, among other things.

Vessel of Opportunity Skimming System

The trip designation (trade route and origin/destination) identifier, usually numerically sequential.

Vessel Pays Dues

Virtual Private Network

Vessel Particulars Questionnaire

Vapor Recovery System

Vessel

Vessel Safety and Operations Audit

Vessel Traffic Information System

Vessel Traffic Management Services