Logistics

Millions of logistics shipments are made around the world each year, inherently resulting in high volume losses. With demanding service levels and customer satisfaction becoming ever more important in the competitive marketplace, many companies are looking to better manage their logistics chains to improve operational efficiency and maintain competitiveness.

The key is to have a loss tracking system to provide transparency on losses and integrating it into the operational business systems. This combined with active loss prevention and improvement programmes will allow root causes of problems to be identified and resolved.

All of this helps to ensure that future shipments arrive in a timely fashion and in good condition. As a result, the cost of risk is reduced and customer satisfaction increases – ultimately, reputations rise.

Benefits

• better loss prevention schemes at distribution centres and en-route
• improve commercial management of forwarders and increased recoveries
• reduce premium costs due to better loss history and more detailed information
• improve client confidence that cargo will arrive safely at its destination
• reduce hidden costs through fewer logistics failures
• identify weak internal hubs and problem routes
• improve internal procedures to meet legal (customs) requirements
• provide better information to make strategic decisions about risk management and risk financing
• establish and promote best practice for risk management and loss handling
• more proactive loss reporting

“In the beginning we saw RiskConsole as a way to analyse and consequently reduce our claims in order to save money, as well as to provide an additional service to our clients. The reality is that it has helped us become experts in loss prevention.”
Panalpina