The vendor returns “monster” can be quite a formidable foe, and we’d bet many of you have found yourself pitted against him. Consider this familiar scenario:
The administrative assistant comes over to your desk and asks if the office supply company applied $100 credit to the company account. You’re behind on your payable work load today and tracking that credit requires an hour or more.
You inquire about the return date, confirm the amount and the item which helps pinpoint a starting place. The assistant doesn’t recall the exact date, she didn’t make note of it. She returned a headset and the company told her they’d credit the company account $100.
A search of the supply company statements turns up a big goose egg, no credit. The assistant calls the office supply company, who asks for tracking information. That sends her to the company shipping department, who asks for a date again. One hour later, shipping finds the tracking information and verifies return receipt.
Another call to the office supply company ensues and the return is finally found. It is sitting on a shelf, unidentified, as the proper paperwork is missing.
For a $100 credit, at least 3 hours of employee time wasted. Considering several returns a month is not unusual for a large company, the dollars and wasted time add up quickly. This s a pretty good example of the old “time is money” idiom.
It’s possible to tame this monster. An automated tracking system for returns saves considerable employee time and gets the money flowing back into your account from returned products.
Building your own database for tracking is an option but there are services out there which automate the process already. There is no reason to waste any more time as you’ve left money on the table already. For information on taming your Vendor Returns, contact us.
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