Companies should buy crates and pallets because their business is growing, not because of attrition due to mishandling of assets. Companies can reduce loss, misuse, and abuse by more than 30 percent when they take control of their assets with a proven method for tracking crates and pallets. Rehrig Pacific Co., a manufacturer of returnable/reusable plastic crates and pallets, announces a systematic method for tracking returnable assets for the food and beverage industry. Though several options are available to control shrinkage and asset loss, including asset tracking, RFID, and thirdparty logistics' pooled floats, Rehrig's customers have identified systematic asset management as the most cost-effective approach for reducing premature purchases.
Rehrig's systematic asset management program is custom designed to fit the specific needs of each company experiencing loss and reduce unnecessary asset purchases by 20 to 25 percent the first year and 10 to 15 percent each year thereafter. This is achieved through retraining of existing employees and creating open lines of communication within the distribution network.
The asset management program consists of eight key stages for effective execution: 1) Assess the company's distribution system, 2) Interview key players in the distribution network, 3) Examine past case purchases, 4) Analyze the case float, 5) Create an information flow to build awareness and educate those involved in the distribution network, 6) Implement the asset management plan, 7) Monitor the program, and 8) Provide timely reviews to maintain asset management control.
By employing this program, companies can expect to uncover information concerning the source of asset loss within the distribution network and take steps to reduce the losses.
Company: Rehrig Pacific
Company URL: www.rehrigpacific.com