Rocket Electrical Parts Essay

Rocket Electrical Parts

            This paper endeavors to present the recommendations that are to be materialized by Tom Grosserman in order to reduce the potential overcharges and in order for the Rocket Electrical Parts, Inc. not to commit the same mistakes again. The following are the recommendations with regards to the types of overcharges that have been listed accordingly in the Case Study: (1) Calculate the bills properly. Double check as much as possible. Use a calculator even if it is just a simple mathematical equation so that simple math errors can definitely be avoided. Don’t assume that humans do not commit mistake when it comes to simple calculations. There is a tendency that humans, unconsciously, get confused with mathematical problems. (2) Check the bills accurately. Examine them closely, its receipt number as well as the date in order to avoid duplications. Stamp the original bill with “paid,” for easy monitoring of payments and of paid and not-yet-paid bills. (3) Ensure and verify the records appropriately, take note if there are discounts applied on an LTL rate. Scrutinize every detail on the list. (4) If there are accessorial charges, make sure to list them and be aware so that if there is a charge in accessories, the person-in-charged can definitely check its availability in the record.

Transportation management especially with regards to audit, payment and claims has to deal with properly and has to be given an optimum attention in order to avoid overcharges in the company. Its five functional areas: integration, invoice management, invoice matching, claims management and reconciliation and payment has to carry out their necessary responsibilities such as to manage freight bills and parcel invoices through a centralized control system, to match and audit bills to detect errors, to provide a closed loop transaction reconciliation process and to provide financial interface to financial systems (Transportation Lifecycle Management, n/d) in order for the company to ensure its organization’s functions and  income and to reduce the overcharges that can definitely, be the reason for its collapse.

We Will Write a Custom Essay Specifically
For You For Only $13.90/page!


order now

References

Transportation Lifecycle Management. n.d. Manhattan Associates. Retrieved January 19,

2009 from

http://www.manh.com/transportation_lifecycle_management

audit_payment_claims.html.