Publicly Traded, Bay-Area Bank Uses MyPorter for Three Year Commercial Asset Storage Project
A large, publicly-traded bank on the West Coast held the primary debt for a Atlanta-based fiber optic company on the verge of bankruptcy. While the company was winding down, it still held considerable technological assets whose value was in the tens of millions of dollars. Bankruptcy proceedings would take multiple years and the landlord for the company’s warehouse was one week from locking the doors (and all of the assets) inside. Without a physical presence in Atlanta, the client needed a local agent who could pickup, transport, and commercially store the assets for an undetermined length of time until bankruptcy and auction proceedings could be established and completed.
To proactively address these issues, MyPorter sent a project manager out to the company’s current industrial space. Coordinating with the local company officers and Senior banking management back on the West Coast, speed was of the essence given the time-sensitive nature of the project. In three days, MyPorter transferred the contents of a 10,000 sq. foot warehouse and 2500 sq. foot office using it’s proprietary fleet and team of contractor partners. There were zero damages to the product and the client was able to use MyPorter storage services (mix of floor and palletized product) for three years until the matters were settled in court. When a buyer for the assets was identified and ready to purchase, they opted to use MyPorter’s transportation options to an out-of-state location – helping both the buyer and our banking client reduce their overall headache.
The client was thrilled with MyPorter’s performance, noting that the speed from 1) negotiation to 2) signed contract, to 3) project execution was less than 48 hours. Product was faithfully stored for over three years with no damage or losses. The bank was able to liquidate the company’s assets and ultimate protect its business interests with the help of MyPorter.
eCommerce Furniture Retailer Uses MyPorter for East Coast Fulfillment and Distribution
The Challenge
A eCommerce furniture retailer with a Los Angeles-only distribution and fulfillment center wanted to establish an East Coast hub to reduce shipping costs and time to customer. They needed a partner with the ability to receive floor-loaded containers from Vietnam shipped in through the Port of Savannah, distribute the product as needed, and fulfill daily orders to be shipped to individual customers via UPS.
How we Helped
MyPorter established clear, a-la-carte pricing for the various services required. The client received a flat rate charge per container for off-loading and palletizing the product in from overseas, monthly storage charges that flexed up and down based on product in the building each month, and a flat rate per order that was submitted by a certain time deadline each day. We quoted pricing for both same-day and next-day shipping that allowed the client to offer varying levels of service to their end customer.
Results
The client was thrilled with the optionality provided by MyPorter’s fulfillment and distribution services. They cut average delivery times to their East Coast customers by 2 days and saved 30{dcfbef177b452fa95c9a2a231a6698db2b4a56b7c9bd4d99399418f9838d54fe} on delivery costs, leading to higher customer satisfaction from their end customers. In addition, the CEO praised the team for allowing him to focus on selling and growing the business vs. monitoring the daily execution of their fulfillment and distribution logistics.
