As you navigate the Reveel Platform, you'll likely encounter a range of technical terms and jargon that may be unfamiliar to you. To help you better understand the platform's functionality and features, we've compiled a comprehensive glossary of key terms and definitions.
This valuable resource will provide you with a clear understanding of the terminology used throughout the platform, empowering you to work more efficiently and effectively.
100 Weight shipment - A hundredweight (CWT) is a unit of measurement commonly used in transportation pricing, typically equivalent to 100 pounds.
Average Billed Weight Increase - is the increase the carrier charge customers looking at the proportion to balance out space vs. weight. It's measured in pounds and rounded off to the nearest whole number.
Average Cost per Package - is a VitalFactor metric used to measure your true shipping cost, both by service and surcharge spend.
Average zone - (shipping zone) is the average distance a package travels from the point of origin to its final destination.
Carrier Agreement - refers to a contract or a legally enforceable document that outlines the terms and conditions, services, and fees to be provided by both the carrier (such as UPS or FedEx) and the customer.
Consignee or Third Party - a person or company to whom the shipper must deliver the goods to.
Dimensional Factor (or dim divisor) - a number set by carriers that represent cubic inches per pound. UPS uses a DIM factor of 166 for retail customers, while FedEx uses a DIM divisor of 139.
Dimensional Weight - is a crucial factor in determining the cost of shipping, as it takes into account the actual volume of the package, rather than just its rated weight. This calculation is made by multiplying the package's length, width, and height to arrive at a dimensional weight, which is then compared to the rated weight. The higher of the two weights is used to determine the final shipping cost, ensuring that you're only charged for the actual space your package occupies.
Economy services - refer to the cheapest shipping rates via trains and trucks.
EDI (Electronic Data Interchange) - the exchange of business documents between two parties. Big shippers have access to EDI, this is where they get their invoices, sometimes it's connected to their system or gets sent to them as a file. Clients on EDI will not have FBO access.
Flat rate shipping - a type of shipping service where a fixed rate is charged to ship a package, regardless of its weight or size, as long as it meets certain criteria set by the carrier or shipping company.
Forecast report - the projection that includes changes due to the GRI and any newly negotiated agreement in the current year.
GC Collect - or Ground Commercial collect means that the recipient will be the one to pay the Shipping fee (Bill to Account #).
GRI report - a report of expected spend when the General Rate Increase takes effect.
Ground shipment - refers to a shipment via land transportation (i.e. trains and trucks).
Guaranteed Service Refund (GSR) - this is like an insurance for your package. If the package doesn't arrive on time or not at all, a GSR guarantees you'll get 100 percent or a portion of your shipping cost back.
Minimums - the Minimum Charge represents a price floor, regardless of whatever your discount percentage is on a specific service, your net charge for that package will never go below.
Money-back Guarantee - ensures that you receive a refund of shipping charges if your package delivery is delayed by even 60 seconds. This comprehensive guarantee is built into your shipping contract, providing peace of mind that your packages will be delivered on time. In the rare event of a service failure, FedEx will refund the shipping charges, minus any applicable exceptions, ensuring that you're not left with unexpected costs.
Multi-weight - refers to multiple packages or small parcels shipped as one.
Peak/Demand Surcharges - are charges added during peak season generally about a week before Thanksgiving or after Christmas.
Proof of concept (POC) - This tailored analysis is designed to demonstrate the potential savings we can achieve for your company, based on the specific details you provide. By leveraging our expertise and your business data, we'll create a customized report that shows exactly how much you can expect to save with our services. Whether you're looking to optimize your shipping costs, reduce transit times, or improve your overall logistics strategy, our POC will give you a clear understanding of the benefits we can bring to your organization.
Published rate - rates based on the carrier service guides.
Rate cap - (cap) a unique guarantee that ensures your shipping costs will not exceed a predetermined maximum rate increase for the next year. This means you can budget with confidence, knowing that your expenses will be capped at a specific level. The Rate Cap is designed to provide stability and predictability, giving you the peace of mind that comes with knowing your costs will not skyrocket unexpectedly.
Rated weight - this is calculated based on the L x W x H of the package divided by a factor called the dimensional factor (or dim divisor).
Service Spend - is the transportation cost of getting your package from Point A to B.
Surcharge Spend - is the accessorial charges or other carrier fees (such as fuel, residential fee, delivery area surcharge, etc.).
Total Gross Spend - is the published price prior to Reveel discounts.
Total Net Spend - is the spend based on the current agreement. (Service spend + Surcharge spend = Total Net spend).
UPS chargeback - In the event that a consignee or third-party recipient fails to pay for a shipment, UPS may initiate a chargeback process to recover the costs associated with the delivery. This can result in the original shipper being billed a refusal fee, in addition to the original shipping charges, to cover the expenses incurred by UPS.
VitalFactors™ - a page on the platform that contains the dashboard with the most important elements of your shipping performance.
Weight - is a VitalFactor that shows the number of shipments per service billed by Dimensional Weight.