At IMC Logistics, we are constantly looking for ways to improve efficiencies across the organization. Our overall goal is to increase invoicing productivity from the time an order is completed to the time the invoice is created. By shortening that window, we can improve cash flow, reduce manual effort on your part, and better serve our customers.
As part of this initiative, we have transitioned from a weekly closing cycle to a more streamlined 3-day close following the completion of an order. Our goal is to manifest and close an order within three days of its completion - whether that’s the return of an empty container on an import load or the delivery of a loaded container on an export load. By shortening this window, we can invoice more quickly and accurately, which will help us improve cash flow and reduce the backlog of orders awaiting closure.
What does it mean for Operations?
Your day-to-day workflow should not change - simply utilize the established order closing process.
There will be a heightened focus on completing orders and working through the invoicing process to ensure we are invoicing as much as possible each day and minimizing the need for accruals by accounting.
Drivers will still be paid on a Sunday - Saturday schedule. However, an increased focus needs to be put on paperwork as drivers will no longer have Monday and Tuesday as a grace period for paperwork. Drivers should be submitting documents as soon as possible after delivery, and all paperwork will need to be completed by 2pm central each Monday.
