Identify Lost Pallets

Lost pallets cost money
Lost pallets hit your cash flow

Identifying Pallet Losses

The earlier you identify that pallets have been lost the better chance you have of recovering them.  There are a number of areas that need to be dealt with at least monthly.

Pallet Stocktakes

You can’t accurately determine your pallet position if you don’t do regular pallet counts.  If you only do a count once a year or once a quarter then you will have potentially eaten into the time available for you to recover lost pallets.  Ideally the count should be done as close as possible to the invoice date and at the time of day when pallet movements are at their lowest.

Owed Pallets

Best to not lend pallets to other companies but if you do then you need to ensure that you get them back as quickly as possible.  Many carriers will not drop off pallets if there are no empty pallets available for exchange.  Monitor owed pallets weekly if possible.

Invoice Reconciliation

CHEP invoices can be received weekly or monthly, Loscam currently provide monthly invoices.  We prefer monthly invoices as CHEP can provide daily import files which means that you can reconcile daily and by the time the monthly invoice is received you could have the bulk of your reconciliation completed.

Even though you can have a couple of months to reconcile your invoice it is good practice to have your monthly invoice fully reconciled before the next one is received.  If you receive weekly invoices you may not be able to have it fully reconciled before you receive the next one.

Uninvoiced Transactions

Just as important as reconciling your pallet hire invoices is the need to check your uninvoiced transactions, particularly uninvoiced transfer offs.  If these are not checked and followed up they may become too old for the pallet hire companies to process and then you will have to seek acceptance from the receiver.

Recover Lost Pallets

Click on the following link to find out about recovering lost pallets – Recover Lost Pallets