Prudential Relocation, in an effort to improve the efficiency and cost-containment of shipping household goods, has implemented a tri-regional management platform with operations in London, Singapore and the United States.
Aided by TRAXX, a common, “real-time” global operating platform, each region is able to monitor shipments in local time, which aims to make it easier to manage vendor services, access shipping status and track incremental costs.
Under the new business model pioneered by Prudential Relocation’s freight-forwarding arm, The Relocation Freight Corp. of America (TRFCA), regional offices can contract incremental parts of residence-to-residence shipping with local vendors around the world.
By controlling each aspect of the move, from origin packing agent and trucking firm to air/ocean carriers, customs brokers and destination delivery agents, Prudential Relocation’s regional managers aim to expedite transportation and remove hidden margins to achieve significant cost-savings.
Prudential Financial’s relocation group is the second largest provider of comprehensive global relocation services in the United States as of March 15, 2004, according to Relocation Information Services. In 2003, the company completed approximately 187,000 service transactions to approximately 47,000 transferees.