A parcel audit is a great risk-free way to find out if you’re overpaying your carriers for invoicing errors and late shipments. They are easily implemented, take little to no operational effort to set-up, and can generate significant savings. But what most shippers don’t know is that a parcel audit (or freight audit) can play a huge role in uncovering other, much larger inefficiencies in your supply chain.
In order to discover these potential savings, you first need to engage in a parcel audit. Basically, a parcel audit will identify invoice errors and late shipments. Companies like Lojistic will then pursue the credits from your carriers on your behalf. In addition to presenting you with reports highlighting total savings and number of carrier errors per invoice, some audit providers will go above and beyond the call of duty and prevent you with tools like the Savings Checklist.
The Savings Checklist is a tool that Lojistic pioneered to better illuminate previously hidden savings opportunities that were identified through a Lojistic parcel audit. This business intelligence tool will no doubt help you gain valuable insights into your supply chain operations. This report is provided free of charge alongside the standard BI reporting platform from Lojistic.
In addition to highlighting parcel audit savings, the Savings Checklist will display any savings found in the following areas:
- Declared value insurance
- Distribution center optimization
- Service level selection
- Parcel rate discounts
- Accessorial fee savings
Basically, a parcel audit is one of the easiest ways to save money on your shipping invoices. In addition to finding and recovering credits for invoice errors and late shipments, it can discover and highlight new opportunities to save even more money through the points identified above.