When high-value items get lost in transit, it’s a headache for your team, a hit to your inventory, and a disappointment to your customers. But the financial impact of item loss extends far beyond the costs of replacement shipping. There are impacts on cash flow, customer service, and customer relationships that can have longer-term effects on revenue and profitability. If you don’t manage your risk, you risk damaging your business.
We know high-value shippers have unique needs and challenges. Since many of our clients in the jewelry industry move high-value goods in their supply chains, we’d like to share some information about a unique partnership between the Manufacturing Jewelers & Suppliers of America (MJSA) and Parcel Pro, a subsidiary of UPS. What we like about this program is that it not only helps you safeguard valuable shipments, it can also create savings and improve customer service in a way that drives value to your bottom line.
Read on for some key insights and more details on Parcel Pro.
Why Insurance Alone Isn’t Enough
Traditional shipping insurance provides a financial backstop, which is great when you have a catastrophic loss. However, if you have to make a claim, you’ve already lost more than the value of your shipment.
Shipping losses can lead to costs at multiple levels. You must provide replacement items, which incurs the costs of restocking and labor. In addition, you may receive a higher volume of calls to customer service as customers aim to track missing shipments or complain about the inconvenience. You may have to provide financial incentives to pacify angry customers. Worse, you may lose future sales as those customers look to do business elsewhere.
While shipping insurance can help you recoup some financial losses, it can’t buy back time or repair damaged customer relationships.
The Benefits of a Better Shipping Solution
Like many companies, you might focus solely on getting the best shipping rates as a way to minimize transactional costs. And if you’re a high-volume shipper, you may even have the best rate possible. But if you’re not looking at costs within your shipping processes and customer service, you could be overlooking a significant financial impact.
The MJSA partnership with Parcel Pro provides MJSA members with additional shipping discounts. On top of that, Parcel Pro offers four areas of added value:
Risk mitigation - Keep your goods safe and your customers happy. Parcel Pro has industry solutions that lower your chance for loss. What sets them apart is a truly robust chain of custody, with proactive package tracking and carrier communication, sensitive word detection on labels, and rerouting of shipments away from high-theft areas. Plus,
when there are delays, you’ll be able to communicate better and faster with your customers because of Parcel Pro direct carrier access.
Cost savings - One key aspect of Parcel Pro is their focus on using technology to streamline your shipping processes. You get a user-friendly website and easy-to-use digital tools, all of which will save you time and money. And, as noted above, MJSA members have preferred rates with Parcel Pro.
White glove service - Here’s the difference between a standard carrier service and a specialized logistics provider: Parcel Pro is willing to customize solutions that address your unique pain points. For example, Parcel Pro has built APIs that integrate their web interface directly with your ERP or online store. And they offer high-touch customer service, meaning they’ll walk your staff through whatever services they need help with to your support your business needs from unique returns, claims or even blind shipping.
International expansion - If you’re not currently selling overseas, this is one way you might turn shipping from a cost center into a profit center. Parcel Pro makes it much easier to manage international shipments by offering completely digital Customs documentation and a comprehensive list of harmonized tariff codes built right into the web interface.
Additional Program Highlights
Parcel Pro is part of UPS, one of the largest logistics companies in the world. While you can ship with other carriers through Parcel Pro, using UPS gives you extra security and greater connectivity for tracking packages, from dedicated call centers all the way through to drivers.
Here are some additional details worth mentioning:
• Higher liability limits than other carriers for both domestic and international shipments, with loss and damage protection for commercial shipments valued up to $150,000 in the U.S. and $100,000 to select countries and territories.
• Pre-approved high value limits, with no need to go to a carrier for higher approvals or waivers.
• Competitive rates for shipping and insurance services.
• Secure pickup and delivery in key markets, including New York, Miami, LA, Chicago, and San Francisco.
• Insured transportation for loose stones, finished jewelry and watches.
• Access to multiple service levels and carriers.
• Quick and easy claims process with an average turnaround of less than 30 days.
• Direct carrier access advantage with UPS helps recovery with distressed packages.
How to Learn More
Bottom line, the folks at Parcel Pro are not only experts in mitigating risk in high-value supply chains, they’re also problem solvers working for the industry, not for carriers. This high-touch program is available to everyone from mom-and-pop shops to multi-billion-dollar companies, whether you’re shipping one set of wedding rings or thousands of dollars in inventory.
If you’d like to know more about Parcel Pro for MJSA members, visit the MJSA website or email MJSA Customer Service Manager Betty Costa. You can also call Betty at 1-800-444-MJSA, ext. 3050. Or, contact a Parcel Pro representative at 1-888-683-2300 or firstname.lastname@example.org.