Most people who have gotten glasses or contacts for the first time describe the amazement of suddenly seeing things as they truly are. (Trees have individual leaves!) They start to see the details of the world around them.
That’s what it’s like when you see your shipping data in a new way — you notice everything you’ve been missing and find a new appreciation for the small details. Everything becomes clear — finally.
The power of your own data
Shippers often know the basics of their shipping profile but struggle to dig down into the details of their own data without becoming overwhelmed. But the details are where are the secrets to reducing your shipping spend lie!
With better access to the details of your shipping profile, you’ll not only save money, but you’ll also make more informed choices for your business about things like:
- Distribution center location
- How to price your products to cover shipping and return costs
- Whether you can offer free shipping
- Packaging options
Your data contains more helpful information than you could imagine, including the answers to questions like:
- Which products are costing me the most to ship?
- Are we getting competitive shipping rates?
- What surcharges are we getting hit with the most and how can we control them?
- Is my carrier performing as promised? Are our shipments making it on time?
- What are the breakdowns of my taxes and custom fees?
The tricky part is — how can you get a handle on all these details and turn them into information you can actually digest and act on?
Tools like the VeriShip Intelligence Platform (VIP) are the answer. The VIP helps you see those crucial details and understand how they affect the big picture of your shipping spend. That’s the key to getting processes right, mitigating risks, managing costs, and budgeting better.
How Kendra Scott uses the VIP to lower shipping costs
Jewelry retailer Kendra Scott implemented the VIP after using VeriShip’s Parcel Audit solution to identify opportunities for carrier refunds and tighten the reins on their controllable costs. Adding the VIP took them to the next level because they could easily access all their shipping data in one spot and make better operational decisions.
With the VIP, Kendra Scott was better able to understand their own data both in detail and at a high level. Reporting and monitoring are a big part of any successful shipping operation, and the team at Kendra Scott is no exception.
They monitor the specific KPIs that matter most to their business through the VIP, as well as generate reports that give them insights into their shipping performance. They use reports like the Miscellaneous Charges Report, the Zone and Service Distributions Report and the Shipping Mode Report to understand the health of their shipping operations and make corrections where necessary.
The results speak for themselves: This deep understanding of their shipping operations has helped Kendra Scott save more than $240,000. (Read more in their case study!)
Bring your shipping data into focus
Just like improving your eyesight, you don’t know what you’re missing in your shipping operations until you sharpen your vision by using the right tool. Empowering yourself with the details of the unique data that matters the most to your business — like monitoring key KPIs — is the way you keep your eye on the big picture of your parcel spend.
One thing every shipper should keep tabs on is surcharges. But do you know how some of the most common surcharges affect your business? Check out our new eBook, 5 Budget-Busting Surcharges & How to Lower Them, to find out about the biggest culprits and how you can get them under control.