"We are insured against losses and that is factored into the budgets," is probably an answer you often give when people ask how waste is managed in your supply chain. And you are absolutely right, too. You pay for that insurance, so it's nice to be able to build on it. But with today's container prices and longer delivery times, the costs you are reimbursed may not outweigh the complaints you will receive from your customer when a package does not arrive.
You want to deliver quality and the customer is not waiting for the message that the product has been lost and so you have to send it again. Besides a lot of administrative hassle and time, you may have lost your customer's trust in your company. In the worst case, your customer will look for a reliable party that can deliver on time.
You can prevent this situation. With a track and trace solution you are always aware in real time of where the goods are and you can even see in what condition. With the light detection option you can see exactly when the package is opened and with temperature sensitive products you can monitor the climate conditions throughout the trip. So you can give an update on the status of the package from factory to customer door.