Delays prove costly
2 April 2012
Three-quarters of European companies experience delays in receiving imported goods, either finished or component, while 79 per cent experience delays in exporting goods, according to a recent logistics survey, writes David Arminas.
The Global Pathways survey, commissioned by consultancy Vastera, also revealed that around three-quarters of companies importing and exporting goods do not hold up-to-date records on the cost of delays.
Of the respondents that knew the cost of their import delays, the average annual loss was nearly £250,000. For those with export delay figures, the loss was...