Home
Glossary of Terms
The way to find info about TNT glossary of terms
In this glossary you will find the meaning of specific terms used in the TNT website.
Index
A
- AA1000 Assurance Standard
- The AA1000 Assurance Standard is a generally-applicable standard for assessing, attesting to and strengthening the credibility and quality of organisations’ sustainability reporting and the underlying processes, systems and competencies. The standard is issued by AccountAbility, an organisation that promotes accountability for sustainable development. The AA1000 Assurance Standard principles are based on three key elements: responsiveness, completeness and materiality.
- Absenteeism
- Total days absence versus potential working days, calculated per year-end.
- AEX
- The prime index on the Amsterdam Euronext Exchange. It reflects the performance of the 25 leading Dutch equities.
- All training hours
- All training hours are the number of hours spent by the total of employees on payroll on training (including social responsibility training hours) during the reporting period (both on and off job and both internal and external programmes).
- American Depositary Receipts (ADR’s)
- Certificates issued in the USA representing the right to ownership of shares in a non-USA company.The purpose of ADRs is to give US investors a convenient way to invest in foreign companies. A bank (in TPG's case Citibank NA) will buy shares in a non-USA company and will issue receipts into the USA in respect of those shares. For TPG one ADR represents the right to one share. Although the shares are based outside the USA, the ADR will trade in US dollars. The bank will receive payment of dividends in the currency and amount the dividend was paid out, but will convert this into US dollars to pay to ADR holders. ADRs have the right to vote but are not allowed to participate in rights issues.
- Annual General Meeting (AGM)
- All companies are required to hold an annual general meeting at least once a year. For Dutch companies the shareholders have to be given at least 15 days notice of the meeting and this may only be waived if all shareholders agree.
- At least satisfied
- At least satisfied employees is the total number of employees who stated that, overall, they were satisfied or above with TNT as an employer in the employee survey.
- Average total capital
- The averaged sum of the total liabilities and group equity of two consecutive years.
B
- Bar code
- A bar code is made up of black bars and white spaces. The scanner interprets and translates the signal, then transmits the code to the computer system. In TNT, bar codes are located on the consignment notes, mother bag tags and the transhipment bags.
- Blameworthy Road Traffic Accident (BRTA)
- A blameworthy Road traffic Accident is one whereby the TNT driver is at fault. Accidents are considered to be blameworthy when TNT’s senior management judged the accident as such. BRTAs that occur in company-owned or leased vehicles during weekends, non-working days or on the way to and from the office are also to be counted.
- Blameworthy Road Traffic Accident Fatality (BRTAF)
- A Blameworthy Road Traffic Accident Fatality (BRTAF) is an accident whereby a TNT employee or third party is fatally injured, so that the employee or third party died because of the accident of any person driving a TNT company-owned or operated vehicle. BRTAFs that occur in company-owned or leased vehicles during weekends, non-working days or on the way to and from the office are also included.
A BRTAF is one whereby the TNT driver is at fault. Fatalities are considered blameworthy when TNT’s senior management judge the fatality as such. Where a court ruling is involved, this is considered a higher authority. In that case, Accident Fatalities are considered blameworthy when a judge has found TNT guilty in his final irrevocable verdict in court. - Blue chip
- Generally refers to shares of prominent companies with a high market capitalisation.
- Business-to-business (B-to-B)
- The exchange of goods, services and information between companies.
- Business-to-consumer (B-to-C)
- The exchange of goods, services and information between companies and private customers.
C
- CAA
- Civil Aviation Authority.
- Capital expenditures on investments as % of turnover
- The capital expenditures on acquisitions of new, or stake increase in existing group and/or affiliated companies as a percentage of total operating revenues.
- Capital expenditures on major fixed assets as % of turnover
- The capital expenditures on property, plant and equipment and other tangibles as a percentage of total operating revenues.
- Carbon dioxide emissions
- Carbon dioxide emissions relate to the gas formed during combustion of fossil fuel. Carbon dioxide is referred to as a greenhouse gas.
- Carrier sequence barcode sorters
- Systems that automatically sort machine-readable letters.
- Cash conversion efficiency (in %)
- Net cash provided by operating activities as a percentage of total operating revenues.
- Civil society
- As part of our stakeholder dialogues, the civil society cluster includes academic and research institutes, financial and investment service organisations, government agencies, industry associations and international organisations, NGOs and trade unions.
- Company-owned or leased vehicles
- Company-owned or leased vehicles in the TNT fleet during the reporting period include company cars, company motorcycles (excluding vans and trucks) and hired vehicles used for business expansion reasons (not replacement hired vehicles for vehicles under repair).
- Conditions of Carriage
- All goods are carried subject to our general conditions of carriage, which are available on request and are set out on the back of the consignment note.
- Consignee
- Means the person whose name appears on the consignment note as the party to whom the goods are to be delivered by the carrier.
- Consignment
- Which is equivalent to the term 'shipment', means one or more pieces of goods, accepted by the carrier from one shipper, at one time, at one address, receipted for in one lot, and moved under one consignment note to one consignee, at one destination address.
- Consignment note
- A consignment note is a document that functions as a receipt for the goods to be shipped, and as evidence of the contract of carriage by setting out the rights and obligations of the consignor and the carrier, as well as placing limitations on the carriers' liability for loss, damage or delay to the goods. It is not a document of title to the goods.
- Consignment Note Number
- All consignments are numbered in sequence. This number is used to identify a consignment at each stage of its progress through the system.
- Consignor
- Which is equivalent to the term 'shipper', means the person whose name appears on the consignment note as the party contracting with the carrier(s) for carriage of the goods.
- Corporate governance
- The OECD (see reference elsewhere in this glossary) defines corporate governance as the system by which corporations are directed and controlled. The corporate governance structure specifies the distribution of rights and responsibilities among different participants such as the board, managers, shareholders and other stakeholders, and defines the rules and procedures for making decisions. In doing so, it also provides the structure through which company objectives are set, the means of attaining those objectives and monitoring performance.
- Transhipment of goods at various points along the supply chain. It relates to the physical receipt of goods and their immediate transfer to the next onward phase without being brought into inventory - e.g. from the supplier to a customer's central warehouse, configured in the correct way to allow onward movement to regional warehouses.
- Cross-selling
- The sale of various products and services from different business segments of a company to a customer.
- Customer Relationship Management
- A single contact person serves as the interface with the customer and enables him/her access to the Group’s products and services.
D
- Direct brokerage
- Online/direct securities brokerage business.
- Disabled employees
- Disabled employees are employees on payroll whose medical condition is recognised by the authorities as a disability.
- Dividend Yield
- A ratio that can be defined as the gross dividend per share divided by the share price.
- Dividends
- Amounts paid to shareholders, usually annually or semi-annually, representing a return on their investment in a company. Dividends can be paid either in cash, stock or a combination thereof. TPG pays dividend in the form of cash. Preference shares receive a fixed dividend while for ordinary shares the level of dividend depends on the profitability of the company.
- Dow Jones
- The prime index on the New York stock exchange. It reflects the performance of the leading US equities that are quoted on the NYSE.
- Dow Jones Sustainability Indexes
- Launched in 1999, the Dow Jones Sustainability Indexes are the first global indexes tracking the financial performance of the leading sustainability-driven companies worldwide. They provide asset managers with reliable and objective benchmarks to manage sustainability portfolios. For more information, see www.sustainability-indexes.com.
E
- Earnings Per Share (EPS)
- A measure of a company's profitability. It is defined as earnings attributable to holders of ordinary shares divided by the number of ordinary shares in issue over the year.
- EBIT
- Earnings before Interest and Taxes.
- EBITA
- Earnings before Interest, Taxes and (goodwill) Amortisation.
- EBITDA
- Earnings before Interest, Taxes, Depreciation and (goodwill) Amortisation.
- E-business
- Electronic business: business via the Internet.
- Environmental incident
- An environmental incident is an incident that has led to pollution of soil, water or air. This includes failures, breakdowns, floods, spillages, leaks, leakages and so forth.
- Euro 5
- Euro 5 is the most recent set in a series of mandatory European emission standards applicable to new road vehicles sold in the European Union. It requires Heavy Goods Vehicles (HGVs) to emit no more than 2.0 g/kWh (Euro 4: 3.5 g/kWh) of NOx and 0.02 g/kWh (Euro 4: 0.02 g/kWh) of Particular Matter (PM). As yet, there is no Euro 5 standard applicable for passenger cars, but a recent proposal suggests limiting diesel car emissions to 0.200 g/km of NOx and 0.005 g/km of PM, petrol cars to 0.060 g/km NOx and 0.005 g/km PM.
The standards do not mandate the application of specific technologies, but it is widely expected that diesel particulate filters will need to be fitted in diesel vehicles to comply with the PM standard. - European Foundation for Quality Management (EFQM)
- The EFQM is a not-for-profit membership foundation that directs the European Quality Awards and runs training courses, workshops and special projects on business improvement. The EFQM Excellence Model was introduced in 1991 as the framework for organisational self-assessment and the basis for judging entrants to the European Quality Award. For further information see www.efqm.org.
F
- Free cash flow
- Cash flow from operations minus net capital expenditure on plant, property and equipment and other intangible assets.
- Free float
- The number (or percentage) of shares that are not held by strategic investors and can thus be traded on the financial markets.
- Fuel efficiency ratio
- The fuel efficiency ratios reflect how efficiently the various energy resources are used for the performance required, such as producing electricity, heating and accommodating transportation.
G
- Gateway
- Collection center for the transshipment and consolidation of international flows of goods in a certain direction.
- Gearing (in %)
- The net debt as percentage of total group equity plus net debt.
- Gearing at year end
- The net debt as percentage of total group equity plus net debt.
- Gearing Ratio
- A ratio which measures the level of debt finance a company has raised relative to its level of shareholders' funds, also known as the debt to equity ratio. It is usually defined as debt divided by shareholders' funds, expressed as a percentage. The precise definition will vary, however, from situation to situation. The higher the percentage from the calculation, the more highly geared a company is. It is possible to calculate the net gearing ratio, where cash balances are deducted from debt in the calculation.
- Global Reporting Initiative (GRI)
- The GRI is a multi-stakeholder process and independent institution whose mission is to develop and disseminate globally applicable sustainability reporting guidelines for voluntary use by organisations reporting on the economic, environmental and social dimensions of their business. The GRI incorporates participation of business, accountancy, investment, environmental, human rights, research and labour organisations from around the world. Started in 1997, the GRI became independent in 2002, and is an official collaborating centre of the United Nations Environment Programme, and works with the United Nations Global Compact. For more information, see www.globalreporting.org.
- Goodwill
- The difference between the total value of a business and the value of its net assets in its balance sheet. It represents the ability of a business to generate profits and cash in the future.
- Greenhouse Gas Protocol
- The Greenhouse Gas Protocol Initiative (GHG Protocol) was established in 1998 to develop internationally-accepted accounting and reporting standards for greenhouse gas emissions from companies.
H
- Hazardous waste
- Hazardous waste is waste that could prove harmful to human health or the natural environment.
- Headcount
- Headcount is the number of own employees on the payroll in active duty working for fully-consolidated companies.
- Home Page
- The starting page on a Web server, the "door" to the rest of the site. It is the page that is retrieved and displayed by default when a user visits the Web server
- HTML
- HyperText Markup Language. The standard language for describing the contents and structure of pages on the World Wide Web. The Intranet Content Manager reads and writes HTML files.
- HTTP
- HyperText Transport Protocol. The Internet protocol that allows World Wide Web browsers to retrieve information from servers.
- Hub
- A sortation centre serving a number of countries. It is cost effective to consolidate document shipments at one Hub station, so that they can be forwarded on a single flight to a Hub in another region of the world.
- Hybrid mail
- Mail is received electronically as a file, printed and delivered as a letter.
I
- IASs
- International Accounting Standards issued by the International Accounting Standards Board.
- IATA
- International Air Transport Association.
- IATA Codes
- Each airport in the world has been allocated an IATA three letter code for ease of reference, e.g. LHR London Heathrow, LGW London Gatwick. These codes are used to designate origins and destinations on the air waybill.
- Igloo
- A bottomless shell made out of fibreglass, metal or other suitable material, its shape conforms to aircraft cargo compartment contours. It covers the maximum usable area of an aircraft pallet to which it is secured during flight.
- In-night services
- Delivering consignments during the night, before a specified time.
- Interest cover (times)
- Total operating income divided by net financial (expenses)/income.
- Interest Cover
- An accounting ratio, measuring the level of a company's profits relative to its interest charge in the profit and loss account. It is usually defined as profits before interest and tax divided by interest charges, but the precise definition will vary depending on the circumstances. The higher the ratio, the less 'gearing' a company has.
- International Monetary Fund (IMF)
- The international organization that acts as lender to countries facing trade payments difficulties, among other things.
- International Organization for Standardization (ISO)
- The ISO is a network of national standards institutes from 146 countries working in partnership with international organisations, governments, industry, business and consumer representatives. The ISO is the source of ISO 9000 standards for quality management, ISO 14000 standards for environmental management, and other international standards for business, government and society. For more information, see www.iso.org.
- Internet
- The global computer network, composed of thousands of Wide Area Networks (WANs) and Local Area Networks (LANs), that uses TCP\IP to provide world-wide communications to homes, schools, businesses and governments. The World Wide Web runs on the Internet.
- Investors in People
- Developed in 1990 by a partnership of leading businesses and national organisations, Investors in People helps organisations to improve performance and realise objectives through the management and development of their people. For more information, see www.iipuk.co.uk.
- ISO 14001 (environmental management)
- The ISO 14001 standard is an international standard for the control of environmental aspects and the improvement of environmental performance. Minimising harmful effects on the environment and achieving continual improvements in environmental performance.
- ISO 9001 (quality management)
- The ISO 9000 standards cover an organisation’s practices in fulfilling the customer’s quality requirements and applicable regulatory requirements while aiming to enhance customer satisfaction and achieve continual improvement of its performance in pursuit of these objectives.
- IT
- Information technology
j
- Just In Time
- An integrated system of scheduling, manufacture and transportation which supplies parts exactly in line with the progress of the reproduction line.
- Joint venture
- A company that is formed and managed jointly by two or more parties.
K
- Key Performance Indicators (KPIs)
- KPIs are measures that focus on the achievement of outcomes critical to the current and future success of an organisation. These indicators should deal with matters that are linked to the organisation’s mission and vision, and are quantified and influenced where possible.
- kWh electricity from sustainable sources
- kWh electricity from sustainable sources is the total amount of kWh electricity generated from ‘green’ or ‘renewable’ sources such as solar, wind, geothermal, biomass, hydroelectric and ocean energy purchased during the reporting period for power and lighting of all company locations (where this can be established from utility supplier invoices or other means). It does not include nuclear energy.
L
- Linehauls
- The movement of consignments for one gateway city or hub to another.
- Logistics
- Logistics is that part of the supply chain process that plans, implements, and controls the efficient, effective flow and storage of goods, services, and related information from the point of origin to the point of consumption in order to meet customers' requirements.
- Lost time accident
- A lost time accident is any accident at work that caused an employee to be absent for at least one day in the reporting period, excluding the day that the accident occurred.
M
- Management positions
- Management positions are defined as the number of females/males employed at management positions or above (i.e. with res-ponsibilities for other employees or with budget responsibility).
- Mandatory Services
The domestic Mandatory Postal Services mainly consist of the conduct against payment of standard single rates of the following postal items:
- items of correspondence and printed matter with a maximum weight of 2 kilograms; and
- postal parcels (containing goods) with a maximum individual weight of 10 kilograms.
In addition, bulk mail of items of correspondence up to an individual weight of 100 grams, which are conveyed against separately agreed rates, are part of the Mandatory Postal Services.
Mandatory Postal Services also cover value-added services for registered and insured items and rental of post office boxes.
For international inbound and outbound mail, Mandatory Postal Services comprise conveyance against payment of both postal items at standard single rates and of bulk mail items at separately agreed rates with a maximum individual weight of 2 kilograms and of postal parcels with a maximum individual weight of 20 kilograms. In addition, Mandatory Postal Services cover the value-added postal services regulated by UPU.
N
- Net return on equity (%)
- The net income as percentage of the total group equity.
- Noise complaints
- Noise complaints are the number of written or documented verbal expression of grievance and/or dissatisfaction from external parties received during the reporting period relating to noise caused by an operation on or off site.
- Non-OECD countries
- Please refer to the definition below for OECD countries. Non-OECD counties in which TNT (Mail and Express) has operations include Argentina, Bahrain, Brazil, Bulgaria, Cambodia, Chile, China, Egypt, Estonia, Fiji, Hong Kong, India, Indonesia, Israel, Jordan, Kuwait, Latvia, Lithuania, Malaysia, Namibia, Philippines, Romania, Russia, Saudi Arabia, Singapore, Slovenia, South Africa, Sudan, Taiwan, Thailand, United Arab Emirates and Vietnam.
O
- OHSAS 18001 (occupational health and safety)
- OHSAS 18001 is a standard for occupational health and safety management systems. It is intended to help organizations control occupational health and safety risks, and was developed in response to widespread demand for a recognised standard for certification and assessment. OHSAS 18001 was created through collaboration of several of the world’s leading national standards bodies, certification organisations and consultancies. For more information, see www.ohsas-18001-occupational-health-and-safety.com.
- One-stop shopping
- The supply of all products and services from a single source.
- On-time delivery
- Delivery of a consignment within the timeframe set for the service in question.
- Operating revenues
- Net sales and other revenues.
- Ordinary Shares
- Shares which represent the right to participate in the residual assets of a business and which usually have voting rights as well as that these are usually entitled to receive a dividend, the level of which depends on how successful the company is. Ordinary shareholders will have limited liability, which means that their liability to contribute money to the company is limited to the nominal value of the share which they hold. If a share is fully paid as to its nominal value, then the holder of the share has no further liability to pay money to the company in any circumstances.
- Organisation for Economic Co-Operation and Development (OECD)
- The Organisation for Economic Co-Operation and Development (OECD) comprises 30 member countries that share a commitment to democratic government and the market economy. Member countries – sometimes referred to as OECD countries – represent the world’s key developed countries. For more information, see www.oecd.org.
- Outsourcing
- Where a third-party provider is engaged to perform functions which are/were performed in-house. Ideally carried out when specialist providers can provide the same or an enhanced level of service more efficiently than an in-house equivalent.
P
- Pick-up & delivery (network)
- In addition to delivering mail from their vehicles, parcel deliverers pick up mail from customers in their delivery area.
- Preference Shares
- Shares in a company which usually receive a fixed dividend each year and which, if redeemed, are redeemed at par value. Although the dividend is fixed, it is not guaranteed. Where the preference shares are cumulative, any arrears of preference dividend will also have to be paid prior to the ordinary dividend being paid in any year. Preference shares may be redeemable, when they will be redeemed at a set date. They may also be convertible. Finally, they may be participating, which means that in addition to the fixed dividend, they will receive a variable dividend dependent on the performance of the company.
- Price to Earnings Ratio (P/E Ratio)
- A ratio defined as the share price at a certain moment in time divided by the (estimated) earnings per share.
- Promotion from within
- Promotion from within is defined as the number of TNT employees appointed to vacancies in management positions at the end of a reporting period. This refers to the number of actual appointments, not the number of FTE positions.
- Prosecutions and fines related to environmental performance
- Prosecutions and fines related to environmental performance are prosecutions and fines by authorities for any incidents or non-compliance with any environmental law or regulation.
- Postal Concession
- The Postal Act requires TPG to perform the Mandatory Postal Services in the Netherlands, and it confers to us exclusive rights for some of these services.
The parliament also enacted a new Postal Decree, which specifies the services that are part of the Mandatory Postal Services and defines the scope of the Reserved Postal Services.
The combination of these mandates and exclusive rights are commonly called the “Postal Concession”.
Q
R
- REIMS II
- An agreement reached in 1999 between 17 European countries on remuneration for the cost of cross-border mail delivery in the destination country.
- Reserved services
- The 1997 Postal Directive also defines the maximum scope of postal services the European Union member states are permitted to reserve for the national public postal operators. Member states are permitted to reserve postal services for domestic and cross-border mail.
In 2002, the European Parliament (EP) has voted on the further opening of the postal market to competition. The following decision was made:- weight and price limit brought down to 100 g and three times the basic tariff as of 1 January 2003;
- weight and price limit brought down to 50 g and two and a half times the basic tariff as of 1 January 2006;
- the weight and price limit to continue to apply to outgoing cross-border mail (only in exceptional cases) and to express services;
- Return on assets
- The total operating income as a percentage of the total assets.
- Return on average total capital
- The total operating income as percentage of the average total capital.
- Reverse Logistics
- The requirement to plan the flow of surplus or unwanted material or equipment back through the supply chain after meeting customer demand (also Returns Logistics).
- Revenue quality yield
- The percentage change year-on-year in revenue per consignment plus the percentage change year-on-year per kilo divided by two.
- Roadshow
- A corporation presentation to shareholders and potential investors, often at a financial center.
- Road Traffic Accident Fatality (RTAF)
- A Road Traffic Accident Fatality is an accident whereby a TNT employee or third party is fatally injured such that the employee or third party died because of the accident and where any person driving a TNT company-owned or company-operated vehicle is involved. RTAFs that occur in company-owned or leased vehicles during weekends, non-working days or on the way to and from the office are also included.
S
- SA 8000 (social accountability)
- SA8000 is a standard issued by human rights organisation Social Accountability International (SAI). The standard is designed to maintain just and decent working conditions throughout a supply chain. It is based on international workplace norms in the International Labour Organization conventions and the UN’s Universal Declaration of Human Rights and the Convention on Rights of the Child. It covers child labour, forced labour, health and safety, freedom of association and right to collective bargaining, discrimination, discipline, working hours, compensation and management systems. For more information, see www.sa-intl.org.
- Sarbanes-Oxley
- The Sarbanes-Oxley Act was signed into law on 30 July 2002, introducing significant legislative changes to financial practice and corporate governance regulation. It also introduced a number of deadlines, where multinational companies must meet the financial reporting and certification mandates for any end-of-year financial statements filed after 15 November 2004 (amended from 15 June). The act is named after its main architects, Senator Paul Sarbanes and Representative Michael Oxley, and followed a series of high-profile scandals, such as Enron. Sarbanes-Oxley allows firms to stay abreast of the proposed and final rules and regulations issued by the United States Securities and Exchange Commission to implement the Act. For more information, see www.sarbanes-oxley.com.
- Satisfied customers
- Satisfied customers are the total number of customers that confirmed through external channels (e.g. correspondence, surveys, focus groups, trade bodies, etc.) that they were satisfied or more overall with the service provided in the reporting period.
- Stock option plan
- An incentive system that allows employees to share directly in a company’s performance. The beneficiaries are granted an option to buy shares at a predefined subscription price.
- Subcontractor Road Traffic Accident Fatalities
- A subcontractor road traffic accident fatality occurs when a subcontractor or other third party is fatally injured by a person driving a subcontractor-owned or hired vehicle, which is operated on behalf of TNT.
- Supply Chain Management
- An integral business approach covering fundamental issues related to the supply chain such as functional strategies, organisation structure, decision taking, resource management, support functions, systems and procedures.
T
- Terminal Dues
- The terminal dues system is the system for mutual payments for the delivery of cross-border letter post. The purpose is to compensate the destination country’s public postal operator for delivering cross border post.
The terminal dues system contains different remuneration levels for industrialised countries and developing countries, thus recognising the different distribution cost levels that exist between those two categories of countries.
Mindful of the shortcomings of the terminal dues system, most European postal operators entered into a separate agreement, called the “REIMS II” agreement.
TPG has not entered into the REIMS II agreement because there is no strong incentive/penalty system that would guarantee improvement of the quality of service. Instead, we have concluded commercially oriented bilateral agreements with most of the European postal operators. - Total number of full time equivalents (FTEs)
- Total number of full time equivalents (FTEs) is the total number of hours worked by the headcount divided by the local number of contract hours (e.g. 40 p/w or 196 p/m).
- Total shareholder return
- The total share price appreciation (or depreciation) plus return on reinvestment of gross dividend. (Source: Bloomberg Professional)
- Total working hours
- Total working hours is based on the total number of individually calculated hours adjusted for overtime, leave or similar deviations.
- Third Party Logistics (3PL) provider
- A 3PL provider is a company that performs all or a portion of a client’s supply chain logistics activities under contract for a fee.
- Turnaround
- The recovery of a financially underperforming company to the point where it can survive.
U
- Universal Postal Union (UPU)
- Postal administration setting worldwide rules and regulations.
- Unsatisfied customers
- Unsatisfied customers are the total number of customers that confirmed through external channels such as correspondence, surveys, focus groups, trade bodies, and so forth that they were dissatisfied or more with the overall service provided in the reporting period. It covers the total number of customers during the reporting period that confirmed through a formal satisfaction survey (i.e. through internal and external evaluations, correspondence, surveys, focus groups, trade bodies, etc.) that they were unsatisfied with the overall service provided.
V
- Value Added Logistics (VAL)
- A range of additional services that a provider can offer its client. Usually offered as an attractive and cost effective alternative to in-house or competitor equivalents.
- VBM
- Value Based Management.
- Voluntary turnover
- Voluntary turnover is the number of TNT employees on permanent contract (full-time or part-time) who resigned from the company of their own free will. This includes all resignations but not redundancies, dismissals or transfers.
W
- WFP
- World Food Programme
- World Economic Forum
- The World Economic Forum is an independent international organisation committed to improving the state of the world. It provides a collaborative framework for the world’s leaders to address global issues and engage its corporate members in global citizenship.
- Workplace fatalities
- Workplace fatalities are the number of employees injured fatally due to an accident, excluding road traffic accidents, and the number of third parties injured fatally due to an accident whilst at work on TNT-controlled premises.
X
Y
Z
Publication date: 15 November 2007 CET: 23:10