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Logistic Glossary – Letter V
Valuation Charges
Transportation charges to shippers who declare a value of goods higher than the value of the carriers' limits of liability.
Value Added Increased or improved value, worth, functionality, or usefulness.
Value Adding/Non-Value Adding 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).
Value Analysis A method to determine how features of a product or service relate to cost, functionality, appeal and utility to a customer (i.e., engineering value analysis). Also see Target Costing.
Value Based Return (VPB) A measure of the creation of value. It's the difference between economic profit and capital charge.
Value Chain Analysis A method of identifying all the elements in the linkage of activities a firm relies on the secure the necessary materials and services starting from their point of origin to manufacture, and to distribution of their products and services to an end user.
Value Chain 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.
Value Proposition What the hub offers to members. To be truly effective, the value proposition has to be two-sided - a benefit to both buyers and sellers.
Value-of-Service Pricing
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. A cost that fluctuates with the volume or activity level of business.
VBR See Value-Based Return (VBR).
Velocity Rate of product movement through a warehouse.
Vendor Code a unique identifier, usually a number and sometimes the company's DUNS number, assigned by a customer for the vendor it buys from.
Vendor The manufacturer or distributor of an item or product line. Also see Supplier.
Vendor-Managed Inventory (VMI) 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.
Vendor-Owned Inventory (VOI) See Consignment Inventory.
Vertical Hub/Vertical Portal Serving one specific industry. Vertical portal web sites are ones that cater to customers within a particular industry. Similar to the term "vertical industry," these web sites are industry specific, and, like a portal, they make use of Internet technology by using the same kind of personalization technology. In addition to industry-specific vertical portals that cater to consumers, another definition of a vertical portal is one that caters solely to other businesses.
Vertical Integration 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.
Vessel Manifest A list of all cargoes on a vessel.
Vessel A floating structure designed for transport.
Viral Marketing The concept of embedding advertising into web portals and pop ups, and as e-mail attachments to spread the word about products or services that the target audience may not otherwise have been interested in.
Virtual Corporation The logical extension of outpartnering. With the virtual corporation, the capabilities and systems of the firm are managed with those of the suppliers, resulting in a new type of corporation where the boundaries between the suppliers' systems and those of the firm seem to disappear. The virtual corporation is dynamic in that the relationships and structures formed change according to the changing needs of the customer.
Virtual Factory 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.
Visibility The ability to access or view pertinent data or information as it relates to logistics and the supply chain, regardless of the point in the chain where the data exists.
VMI
Vendor-Managed Inventory (VMI)
VOI
Vendor-Owned Inventory (VOI)
Voice Activated Systems which guide users such as warehouse personnel via voice commands.
von Thunen's Belts A series of concentric rings around a city to identify where agricultural products would be produced according to von Thunen's theory.
Voyage The trip designation (trade route and origin/destination) identifier, usually numerically sequential.
VSA Vessel Sharing Agreement.
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