If your business relies on the use of returnable assets, then you know just how important it is to keep track of them. Not only do you need a system in place for tracking and managing your supply chain assets, but you also need a solution that can help you improve process efficiency and reduce costs.
In this blog post, we’ll explore some of the key things you should know about returnable asset tracking. We’ll also look at some of the benefits achievable through the right solution. So if you’re ready to learn more, keep reading.
What Are Returnable Assets?
Returnable assets are items that a business uses to transport goods and that can be returned for reuse. Also known as Returnable Transport Items, or RTIs, the most common returnable assets are shipping assets such as containers, pallets, and racks.
Reusable assets offer many benefits over their disposable counterparts. They are more durable and have a longer lifespan, so they can be used multiple times. Returnable assets are also often made of recycled materials, which reduces their environmental impact.
Additionally, returnable assets save businesses money in the long run because they don’t have to be replaced as often. Returnable assets are an important part of sustainable business practices, and their use is growing in popularity as businesses strive to reduce their environmental impact.
The Challenges of Managing and Tracking Returnable Assets
Any business that uses returnable packaging or other reusable assets faces several challenges when it comes to managing and tracking these items.
First, there is the issue of inventory management. Returnable assets must be monitored carefully to ensure that they are available when needed. This can be a challenge, especially for businesses with multiple locations.
In addition, businesses need to track the real-time location of returnable assets throughout the supply chain at all times. This helps to ensure that assets are returned to the correct location and prevents loss or damage.
Finally, businesses need to maintain accurate records of all returnable assets. This includes keeping track of who is responsible for each asset and when it was last used.
With proper management, returnable assets can be a valuable tool for any business. However, without careful planning and tracking, these assets can quickly become a liability.
What is Returnable Asset Tracking?
Returnable asset tracking is the process of monitoring and managing returnable assets as they move through a supply chain.
The goal of returnable asset tracking is to ensure that returnable items are properly tracked and accounted for at all times. This helps businesses avoid damaged or misplaced assets, and keep track of their returnable assets for future use.
Returnable asset tracking systems use a variety of technologies, including RFID tags, BLE beacons, barcodes, and GPS.
By using returnable asset tracking systems, businesses can improve the efficiency of their operations and reduce the cost of returnable asset management.
The Benefits of Implementing Returnable Asset Tracking
Returnable asset tracking systems offer a number of benefits for businesses, including:
– Reduced Loss of Assets: One of the primary benefits of implementing a returnable asset tracking solution is that it can help to reduce the number of lost assets.
When returnable assets are properly tracked, it is easier to locate them when they are needed. This can help to save time and money that would otherwise be spent searching for lost assets.
– Increased Efficiency: Another benefit of implementing a returnable asset tracking solution is that it can help to increase the efficiency of your operations.
By tracking asset location, you can ensure that they are properly utilized and that they are available when and where they are needed. This can help to improve your overall productivity and efficiency.
– Sustainability: Another benefit of using a returnable asset tracking solution is that it can help improve sustainability. By reducing losses, you will also be reducing waste, which can help to reduce your carbon footprint.
Additionally, by using less paper and other resources, you will also be helping to conserve natural resources
– Cut Costs: Implementing a returnable asset tracking solution can also help to reduce your costs. When assets are properly tracked, it is easier to prevent them from being lost or stolen.
Additionally, by utilizing an asset tracking solution, you can avoid the need to purchase replacement assets, which can save you money in the long run.
– Improved Customer Service: Another benefit of implementing a returnable asset tracking solution is that it can help to improve your customer service. When customers know that their assets are being properly tracked, they will be more likely to trust your company with their business.
Additionally, by providing customers with up-to-date information on the status of their assets, you can provide them with a higher level of customer service.
– Enhanced Security: A returnable asset tracking solution can also help to enhance the security of your operations. By tracking returnable assets, you can ensure that they are only accessed by authorized personnel. This can help to prevent theft and other security breaches.
Additionally, by utilizing an asset tracking solution, you can create an audit trail that can be used to track down individuals who may have accessed your assets without authorization.
– Optimized Maintenance: Another benefit of using a returnable asset tracking solution is that it can help to reduce maintenance costs. When businesses know where their assets are at all times, they can more easily schedule maintenance and repairs.
Additionally, businesses can use data from the asset tracking system to identify patterns in asset usage and determine when certain parts or components are more likely to fail.
– Meet Regulatory Compliance: Finally, implementing a returnable asset tracking solution can also help to improve your regulatory compliance. By tracking assets, you can ensure that they are being used in accordance with regulations and laws.
Additionally, by utilizing an asset tracking solution, you can create records that can be used to prove compliance in the event of an audit or investigation
Returnable asset tracking systems thus offer a number of advantages for businesses, making them an essential part of any returnable asset operation.
Get Started With Returnable Asset Tracking
Returnable assets are an important part of many businesses, but they can be difficult to manage and track. Implementing a returnable asset tracking system can help you keep track of your assets and improve efficiency in your business.
If you’re interested in learning more about our returnable asset tracking solution, please explore our website and request a demo below. Thank you for reading!
Last Updated on September 28, 2022 by Radiant