Enveyo, a leading Transportation Management System (TMS) and logistics software provider, today reported an implementation of cloud-based shipping analytics & optimization solutions Modeling, Insights, and Audit helped leading contact lens manufacturer, CooperVision, save more than $4.7 million in contracted shipping costs.
CooperVision is the global leader in contact lenses, designing and manufacturing innovative, high-quality lenses with the widest range of prescription options. Headquartered in upstate Victor, New York, CooperVision services world-wide customers and looked to optimize their global fulfillment and supply chain needs, while also responding to consumer demand for two-day shipping without significant investment.
CooperVision turned to Enveyo to implement its cloud-based suite of solutions and recommend next steps that would transform CooperVision’s shipping operations and reduce overall costs. Enveyo’s predictive analytics software, Modeling, business intelligence & integrated reporting tool, Insights, and carrier performance monitoring solution, Audit, set CooperVision on the path to optimize and streamline the global fulfillment of its contact lenses.
The Enveyo logistics software implementation yielded CooperVision:
- More than $4.7 million savings in base transportation costs
- On-demand visibility into reporting of shipping actuals and carrier performance
- Ongoing cost recovery through programmatic carrier audits
- Improved customer satisfaction by implementing two-day residential shipping
- Reduction in shipping spend of 16% while volume increased by 31%
Implementing Enveyo’s suite of solutions into CooperVision’s technology stack enabled them to make data-driven decisions and introduce two-day residential shipping from a difficult geographical location while reducing shipping costs in the process. CooperVision’s shipping distribution shifted from 36% to 88% two-day service and ground shipping went from 60% down to 7%. During this time, CooperVision decreased its cost per shipment by 4% while the market’s published residential rates increased by 33%. By making these shifts, CooperVision decreased its parcel shipping spend by 16% overall despite a 31% increase in total shipping volume and a 200% jump in residential shipments.
“Without Enveyo’s tools, this simply wouldn’t have been possible,” said Jim Fiorino, Director of Distribution for CooperVision. “We see Enveyo’s suite of tools as an ongoing critical component of our business. Their tools and reporting give us immediate and ongoing visibility that allows us to continually identify opportunities to optimize and introduce efficiencies.”
Coby Nilsson, Enveyo’s Co-Founder and CEO said, “We’re proud to partner with CooperVision. Supply chain & logistics have seen incredible shifts over the last 18 months, and this implementation enabled CooperVision to turn the cost of doing business into a competitive advantage and has positioned them to keep driving growth for their business moving forward.”
To learn more about CooperVision’s experience with Enveyo Modeling, Insights, and Audit, read the full case study. To learn more about Enveyo’s cloud-based suite of logistics software, visit enveyo.com.