If you have access to any abandoned pallets, keep them. Sometimes you can get cheaper transport rate per unit carton if you pack your goods on pallet. For example, a normally goods in pallet form (4' x 4' x 4') to Penang may cost roughly RM80 per pallet. Say, one loose carton to Penang costs about RM7.00, if you can stack your goods more than 12 cartons, you already can save some money. The more goods you can stack on the pallet within the size of 4' x 4' x 4', the more you can save. So do your math before you do your packaging.
Goods on pallet form cuts down a lot of handling time and labour in loading work because it's all done by forklift, that's why the transport rate is cheaper compares to the same amount of goods put into loose form.
So, all you need to invest is one roll of stretch film, which only costs about RM15.00 per roll from hardware store. Stack all your products on pallet and wrap it with stretch film.
If you are not sure how you pack to get cheaper rate, feel free to call me at 012-3180120 (SL Ong)
Low Cost Item can save money
If your products are not premium items, on the other hand, low cost items, you can get extra discount from your transporter by acting pity for not having too much profit margin from the products. Guess what, most of the time you'll get sympathy from your transporter and get a bit of discount from there too. Anyhow, it's always the volume that has the highest negotiation power.
Do I Need Goods-In-Transit Insurance ??
Goods-In-Transit (GIT) Insurance normally does not cost much as the market rate now is running around 0.2% - 0.4% of the value insured depending on types of products, risk factor of the products, sum insured and the requirements of each insurance company. Please take note on high risk products such as computers, tobacco, electronics, liquor etc., they are normally not covered by most of the insurance company or need to be referred by the insurance company.
Also, GIT insurance incurs excess values, meaning the initial values that the insurance does not cover on top of the sum insured. For example, the excess value is RM1,000 and your sum insured is RM5,000; the insurance company will compensate you utmost RM4,000. Some excess values are based on Ringgit values and some are based on the percentage of the sum insured depending on the favorite of each insurance company. So, whenever you want to get GIT insurance for your products, kindly ask what the excess value is from your agent, because it is not worth to insure a RM5,000 worth products while the excess value is RM6,000.
Normally the GIT insurance requires 24hour advance notice to get prepared, so please plan ahead whenever you want to insure your products.
Well, this is the basic knowledge on GIT insurance so it is up to you to decide whether it is wise to get GIT insurance for your products.
Also, GIT insurance incurs excess values, meaning the initial values that the insurance does not cover on top of the sum insured. For example, the excess value is RM1,000 and your sum insured is RM5,000; the insurance company will compensate you utmost RM4,000. Some excess values are based on Ringgit values and some are based on the percentage of the sum insured depending on the favorite of each insurance company. So, whenever you want to get GIT insurance for your products, kindly ask what the excess value is from your agent, because it is not worth to insure a RM5,000 worth products while the excess value is RM6,000.
Normally the GIT insurance requires 24hour advance notice to get prepared, so please plan ahead whenever you want to insure your products.
Well, this is the basic knowledge on GIT insurance so it is up to you to decide whether it is wise to get GIT insurance for your products.
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