Hydraulic components manufacturer in the USA has launched a 'Rapid Response Program' that guarantees orders will ship on time or the supplier will pay a substantial penalty.

Prince Manufacturing Corporation, a hydraulic components manufacturer headquartered in North Sioux City, SD, USA, has launched an industry leading program that guarantees orders will ship on time or Prince will pay a substantial penalty. The Prince Rapid Response offer is the first of its kind in the hydraulic components industry. Prince guarantees that 'Standard Delivery' for orders on custom products will be ready to ship on time or they will pay a 10% penalty per day.

The offer also guarantees that 'Express' and 'Urgent' orders will be ready to ship on time or Prince will pay a 50% penalty for the first day late and 10% per day there after until the order is free.

By establishing these substantial penalties, Prince is letting the market know that they are serious about meeting their scheduled deliveries.

Express orders are half the standard lead-time and urgent orders are one forth the standard lead-time.

Rhea Geary, president of Prince Manufacturing said: 'The Prince Rapid Response program was developed after an analysis of the challenges facing the manufacturing marketplace and supply chain'.

'Prince found that long lead times and unreliable delivery have the greatest impact on the manufacturers'.

'These challenges cost money'.

'Not getting products when needed causes disruptions and lost opportunities'.

'Manufacturers are forced to carry larger inventories or reschedule production'.

'A lack of flexibility results in missed sales opportunities'.

'All of these problems have a negative impact on the bottom line'.

'Prince determined that the solution must guarantee reliable delivery, faster delivery if needed, increase flexibility to changes and have a positive impact on the bottom line.