When it comes to transport and logistics, the movement of goods is only as strong as the weakest link in the supply chain.
For companies that rely on returnable packaging systems, asset tracking is essential for mitigating risk and improving efficiency. Despite its importance, many organizations still struggle with effectively managing these returnable assets.
In this blog post, we’ll explore some of the common challenges faced by businesses with returnable packaging systems and how asset tracking can help overcome them.
What is Returnable Packaging?
Returnable packaging, also known as returnables, are returnable transport items (RTIs) including a wide range of packaging, such as containers, racks, totes, and pallets that can be used multiple times to move product from one location to another.
Reusable packaging is often made from durable materials such as plastic or metal, and it is designed to withstand the rigors of repeated use. The design of returnable packaging is often focused on maximizing the number of times it can be used. This can include features such as easy-to-open closures and stackable packaging designs.
In some cases, returnable packaging may also be designed to be reused in a different way. For example, some bulk containers can be converted into bins or composters.
In comparison to single-use packaging, returnable packaging can be cost effective for companies because it eliminates the need to constantly purchase new packaging materials, and it can also help to reduce environmental impact and waste. In many cases, returnable packaging can be used indefinitely, provided that it is properly maintained long term.
Environmentally friendly returnable packaging is an important part of sustainable supply chain management, and it is increasingly being adopted by companies in a variety of industries.
The Challenging Logistics of Returnable Packaging Management
The logistics associated with returnable packaging management can be challenging.
In order to optimize the use of returnables, companies need to track them throughout their journey – from production through to delivery and ultimately, return. This tracking must be accurate and up-to-date in order to avoid costly errors.
In addition, companies need to have a system in place for managing the cleaning and maintenance of returnables. This system must be efficient in order to avoid delays in the return process.
Finally, companies need to ensure that they have enough returnables on hand to meet customer demand. This can be a challenge, as returnables can often be damaged or lost during shipping.
As a result, careful planning and management are essential to the success of any returnable packaging program.
Overcoming Common Challenges Associated With Returnable Packaging Management
The returnable packaging process can be challenging for businesses for a number of reasons.
In many cases, returnable packaging is expensive, and the return rates can be low. Additionally, returnable packaging often requires a significant amount of storage space.
Asset tracking can help to overcome some of these challenges by providing businesses with real-time visibility into their returnable packaging inventory.
By tracking returnable packaging assets, businesses can more easily identify which items are being used frequently and which items are being returned. This information can help businesses to optimize their returnable packaging processes and improve their bottom line.
Additionally, asset tracking can help businesses to reduce the amount of storage space required for returnable packaging inventory. By tracking returnable packaging online, businesses can more easily identify when returnable packaging assets are no longer needed and can recycle or dispose of them accordingly.
Asset tracking is a valuable tool for businesses that manage returnable packaging inventory. By providing visibility into return rates and usage patterns, asset tracking can help businesses to optimize their returnable packaging processes and improve their bottom line.
How Does Asset Tracking Work For Managing Returnable Packaging?
Asset tracking is the process of monitoring and managing the movement of physical assets.
In the context of returnable packaging, asset tracking can help businesses keep track of returnable containers as they move through the supply chain.
There are a variety of asset tracking technologies that can be used for returnable packaging solutions, including BLE beacons and RFID tags.
- BLE beacons are small, battery-powered devices that emit a signal that can be detected by nearby smartphones or other devices.
- RFID tags are more robust and can store more data than BLE beacons, but they require an infrastructure of RFID readers to work properly.
Asset tracking can help businesses optimize their returnable packaging operations by providing visibility into the location and condition of returnable containers.
The Benefits Of Asset Tracking Solutions For Managing Your Returnable Packaging
1) Increased Efficiency: Asset tracking solutions can help to increase the efficiency of your returnable packaging operations by reducing the amount of time that is spent searching for lost or misplaced items.
By tracking the real-time location of your returnable packaging, you can ensure that it is always available when needed and that it is being used in the most efficient way possible.
Additionally, asset tracking solutions can help you to identify and correct any issues that may be causing inefficiencies in your operations.
2) Reduced Costs: Asset tracking solutions can also help to reduce the costs associated with your returnable packaging operations by eliminating the need to purchase replacement items that have been lost or damaged.
By tracking the location of your returnable packaging, you can avoid losing or misplacing assets, which can save you money in the long run and help to reduce your business’ carbon footprint.
Additionally, asset tracking solutions can help you to optimize your use of returnable packaging, which can also lead to additional cost savings.
3) Improved Customer Service: Asset tracking solutions can also help to improve customer service by providing visibility into the location of returnable packaging.
This visibility can allow you to provide better customer service by ensuring that returnable packaging is always available when needed and that it is being used in the most efficient way possible.
Additionally, asset tracking solutions can help you to identify and correct any issues that may be causing problems for customers.
4) Enhanced Security: Asset tracking solutions can also help to enhance security by providing visibility into the location of returnable packaging.
This visibility can allow you to quickly identify and recover any assets that may have been lost or stolen.
Additionally, asset tracking solutions can help you to identify and correct any security vulnerabilities that may exist in your operations.
5) Increased Visibility: Asset tracking solutions provide increased visibility into the location of returnable packaging, which can allow you to make better decisions about its use.
This increased visibility can also allow you to quickly identify and correct any issues that may be causing problems in your operations.
Additionally, asset tracking solutions can help you to monitor the performance of your returnable packaging over time and make changes as necessary to improve its performance.
6) More Accurate Tracking And Reporting: Asset tracking solutions can also improve tracking and reporting by providing you with detailed information on the movement of your returnable packaging.
This information can help you to identify trends and patterns that may be indicative of problems within your system.
Additionally, asset tracking solutions can help you to track the performance of your returnable packaging over time and make changes as necessary to improve its performance
7) Greater Flexibility: Asset tracking solutions can also provide you with greater flexibility by allowing you to customize the way that you track and manage your returnable packaging.
This flexibility can allow you to adapt your system to changing needs and requirements.
Best Practices For Implementing An Effective Asset Tracking Solution
In returnable packaging management, an effective asset tracking solution can help businesses keep track of returnable containers and improve operational efficiency.
There are a few best practices to keep in mind when implementing such a solution.
First, it is important to select the right technology for the specific needs of the business.
Second, the solution should be integrated with existing business systems to avoid disruptions.
Third, the solution should be designed to scale as the business grows.
Finally, it is important to have a clear plan for how the solution will be used and monitored.
By following these best practices, businesses can ensure that their asset-tracking solution is effective and helps them to improve returnable packaging management.
Case Study: Automotive Industry Leader Finds Success With Radiant’s Solution
An industry leader in the automotive space is working with Radiant to expand its deployment of Radiant’s IoT asset tracking solution in order to cut back costs associated with tracking critical returnable assets.
The company expects to save nearly $15 million annually in reduced container loss and diminished expedites, as well as uncover other opportunities for streamlining transport, thanks to the real-time location insight into container movement and usage data provided by the BLE-based asset tracking technology.
By adopting the IoT asset tracking software, this progressive automotive company will be able to facilitate proactive and remote tracking of mobile assets in real time – reducing not only container loss but also fleet disruptions.
Get Started With Returnable Asset Tracking
Managing returnable packaging can be a logistical nightmare if you don’t have the right solution in place.
An effective asset tracking solution will not only make it easier to keep track of your returnable assets, but also help you overcome many of the common challenges associated with managing these types of assets.
If you’re looking for an asset tracking solution that can help you streamline your returnable packaging management process, request a demo of our solution below.
Last Updated on October 21, 2022 by Radiant