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Revenue ton (R/T)

A unit measure used in marine transport to compare the volume and weight of a shipment. Freight rates are usually expressed in terms of cost per revenue ton. There are three different formulas in general use for determining the total…

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Reverse logistics

Activities associated with a product/service after the point of sale. The ultimate goal of reverse logistics is to optimize or make more efficient aftermarket activity, thus saving money and environmental resources. Some services included in reverse logistics are: Customer service (helpdesk)….

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Reverse option

An auction where suppliers bid the price down in competition with each other. Reverse auctions commonly take place over the internet.

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