This is a snippet of the transcript, sign up to read more.
Wayfair has an entire incidents dashboard report where customers lodge complaints about faulty equipment, assembly issues, breakdowns, and even absurd claims like furniture causing bedbugs. This dashboard is a treasure trove of information that can be extracted. However, Wayfair doesn't seem to utilize it effectively. They take the supplier's word that they will change their manufacturing process or implement a new picking and packing process if an item has been repeatedly shipped to customers in a damaged state. We pointed out to Wayfair that they lacked a robust incident response system. They were reporting the issues and had the information, but they weren't taking any action. They acknowledged this weakness in their system, but we didn't pursue it further as things were winding down. I'm not sure if they ever addressed this issue, but you're correct in identifying it as a weak link in their chain.
This is a snippet of the transcript, sign up to read more.
This document may not be reproduced, distributed, or transmitted in any form or by any means including resale of any part, unauthorised distribution to a third party or other electronic methods, without the prior written permission of IP 1 Ltd.
IP 1 Ltd, trading as In Practise (herein referred to as "IP") is a company registered in England and Wales and is not a registered investment advisor or broker-dealer, and is not licensed nor qualified to provide investment advice.
In Practise reserves all copyright, intellectual and other property rights in the Content. The information published in this transcript (“Content”) is for information purposes only and should not be used as the sole basis for making any investment decision. Information provided by IP is to be used as an educational tool and nothing in this Content shall be construed as an offer, recommendation or solicitation regarding any financial product, service or management of investments or securities. The views of the executive expressed in the Content are those of the expert and they are not endorsed by, nor do they represent the opinion of In Practise. In Practise makes no representations and accepts no liability for the Content or for any errors, omissions, or inaccuracies will in no way be held liable for any potential or actual violations of laws, including without limitation any securities laws, based on Information sent to you by In Practise.
© 2024 IP 1 Ltd. All rights reserved.