Supply Chain Management
CoMetrics Overview
The CoMetrics solution automates labor-intensive processes, leveraging technology with global purchasing power and professional logistics management expertise to reduce inbound logistics costs. Our clients are able to replace outdated, inefficient functions with strategies and initiatives that optimize the flow of product, information and business processes.
CoMetrics Partners LLC has collaborated with one of the leading global logistics providers to offer middle market consumer product importers a systemic supply chain management (SCM) solution. The CoMetrics solution combines state of the art SCM technology with global purchasing power and professional logistics management expertise to reduce costs and maximize operating efficiencies.
Historically, middle market importers have been unable to utilize leading technology to manage their supply chains due to the complexities and costs required to interface with multiple vendors, customs brokers and transportation service providers. As a result, from the issuance of a vendor purchase order (VPO) until the freight arrives at their warehouse/3PL, a myriad of tracking processes are performed utilizing manual mechanisms including Excel spreadsheets, emails, faxes and other laborious, inefficient methods. The status quo results in limited visibility, inaccurate information and added costs.
The CoMetrics Solution applies the same principles and EDI technology that Fortune 1000 importers and retailers utilize to manage their supply chains, saving billions of dollars annually. We provide web-based visibility from the issuance of a VPO through receiving without requiring costly integrations with vendors and carriers. Our solution can be integrated with the importer’s ERP, Accounts Payable and General Ledger applications, eliminating duplicative entries and enhancing financial reporting.
Core Elements to Success
Visibility
The CoMetrics web-based visibility platform provides real-time status on vendor purchase orders, freight bookings, shipments, containers, in-transit inventory and customs clearance status – down to the item level. We are EDI interfaced with all major ocean and air carriers. This allows us to provide transparency in real time, from a single source, enabling our clients to manage processes by exception thereby increasing productivity. Reports can be scheduled for automatic delivery based on specific functionality and user-defined preferences.
Global Purchasing Power
Over 100,000 FEUs and 130,000 tons of airfreight are transported across our network per annum. Our substantial freight volume provides significant leverage with carriers ensuring competitive pricing and space availability for our clients. Our network has over 1,000 employees in Asia and agency representation throughout world, providing our clients with 24-7 service. We are fully licensed and bonded by the FMC, as well as C-TPAT and ISF certified.
The utilization of EDI reduces the cost to process data by up to 50%.
Technology Integration
Through Electronic Data Interchange (EDI), our solution facilitates automated entries into our clients’ ERP and accounting systems. Our solution enables importers to electronically process and archive all commercial invoices and import documents, international air and ocean freight invoices, as well as ISF (10+2) and customs filings. The CoMetrics Solution is based on technology and principles that serve Fortune 1000 importers and retailers and provides the finest trade, transportation and logistics information available. Our platform supports the largest set of end-to-end (E2E) EDI interfaces, hosted applications and direct web entry without requiring vendor integration. It is accurate, secure, and reliable.
After cost of product, logistics costs represent the second or third largest component of an importer’s cost structure.
Financial Reporting
Many companies face challenges in implementing the management and financial reporting requisite to analyze their business and make timely, accurate decisions. We engineer reporting tools with a particular emphasis on bridging standard gross profit margins to the actual to identify the cause and effect of margin dilution. By transmitting commercial invoices, freight, duty, and customs brokers’ invoices electronically, we capture approximately 80% of a company’s cost structure. This enables us to systemically forecast rolling cash requirements while providing our clients with immediate and accurate LDP cost information. We eliminate redundant data entry processes and have the ability to integrate our system with ERP and General Ledger applications.
Specific Attributes Include:
- Electronic tracking of all freight bookings at country of origin
- Visibility of real-time status of the VPO and freight movement
- Inbound weekly arrival reporting
- Vendor performance reporting (vs. late ship date)
- Rolling 90-day cash requirements
- In-transit inventory values
- Electronic customs and ISF clearance
- Accurate LDP costs as compared to standards with variance analysis
- Inbound cartons or cubic meter reporting for audit of 3PL receiving charges
- Electronic repository of import documents
- Automated entries into the G/L and accounts payable