Steve Ferreira, Ocean Freight Refunds on 'Economic Stimulus & Cost Avoidance for 3PLs & Shippers'
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Steve Ferreira, Founder of Ocean Freight Refunds speaks on 'Economic Stimulus & Cost Avoidance for 3PLs & Shippers' at the 7th European 3PL Summit in Brussels, November 25th 2009. To download all of the slides from the conference for free visit www.3PLsummit.com/eu_2009ppts
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Steve Ferreira, Ocean Freight Refunds on 'Economic Stimulus & Cost Avoidance for 3PLs & Shippers'
- 1. Integrating ocean freight auditing into the supply chain for Shippers and 3PL’s Steve Ferreira, CEO Ocean Freight Refunds & Container Shipping Technologies
- 2. Ocean Freight Audit Integration • Historic ocean freight credit note generation with a three year scope • Carrier subsidized audits – why you should not use your own money to integrate ocean freight audit • Real time cost avoidance (funded with vendor money, but optional step) • Real time revenue generation (Optional) Container Shipping Technologies Ocean Freight Refunds
- 3. What you need to know now • Any ocean freight audit or audit tool needs to make a commitment to the client that the initial focus is on generating large cash refunds from historic invoices • Should be pay for performance only, but more importantly any funds utilized should not be from clients budget • Solution for pre audit should be funded by post audit credits • Any ocean audit system must not constrain clients resources Container Shipping Technologies Ocean Freight Refunds
- 4. Fortune 500 Conference Attendee • OFR identified € 500,000 which was paid to client via a credit note from carriers • Agreed to post audit 3 years of invoice history • 50% contingency fee established, No Refund, No Fee • Invoices and Ocean Rates sent to OFR via CD • Client informed OFR of the credit notes and OFR invoiced client 50% of the credit notes • Audit took one week and was done offsite Container Shipping Technologies Ocean Freight Refunds
- 5. Ocean Freight Audit Settlement • Costs – Post audit is 100% free if no credit note is received by the client. No set up, travel or other fees should be incurred. – Contingency fee structure 50/50 based on credit note confirmation by client – Pre audit is on a per container basis at approximately € 2, subject to TEU volume review Container Shipping Technologies Ocean Freight Refunds
- 6. Pier 1 Case Study • 43,000 TEU Year • Phase 1 - Historic post audit: $250,000 recovered – lump sum check from ocean vendors to Pier 1 • In case of Pier 1, historic audit was substantial enough to fund year 1 pre audit. • Phase 2 – Real time cost avoidance pre audit: $20,000 in mis- rated invoices corrected weekly • Phase 3 – Carrier revenue generation: $5,000 in under billed revenue corrected weekly • We will view the application in Phase 2 and Phase 3 Container Shipping Technologies Ocean Freight Refunds
- 7. Contact Detail Container Shipping Technologies/Ocean Freight Refunds Questions? Thank you! Steve Ferreira, CEO/founder Ocean Freight Refunds Inc. Container Shipping Technologies, Ltd. Tel: (Europe) +420 608 262 058 (Europe) Tel: (USA) +1 646 312 7905 E-mail: rightrate@vesselvoyage.com www.oceanaudits.com www.vesselvoyage.com Container Shipping Technologies Ocean Freight Refunds