Are you concerned about the losses associated with reusable transport packaging? You’re not alone. Businesses across multiple industries are losing millions of dollars each year due to missing, misplaced, and misappropriated RTPs.
Fortunately, there is a solution that can help reduce these losses—IoT asset tracking solutions.
In this blog post, we’ll explore how IoT location tracking can save your company money while also improving asset visibility and control within your supply chain operations.
Read on to learn more about how real-time location tracking capabilities available through IoT-enabled technology can give you better insight into stock movement helping you identify areas where loss from RTP misuse needs to be addressed quickly and efficiently.
The Growing Importance of Reusable Transport Packaging
In an increasingly eco-conscious world, reusable transport packaging is becoming increasingly important in business. These reusable materials, such as returnable containers and pallets, are often made of heavy-duty and durable materials which are designed for multiple uses.
By using returnable transport items within their supply chain operations, businesses can reduce their carbon footprint significantly and lower their overall cost in the long run.
Moreover, reusable transport packaging helps to protect goods from damage during the shipping and handling process, leading to lower costs associated with product returns or waste disposal.
Overall, reusable transport packaging has become an integral part of doing business in a smart and efficient way that also benefits the environment.
Understanding The Impact of Reusable Transport Packaging Losses
Reusable transport packaging offers stability, cost savings, and environmental protection. However, returnable packaging losses can be detrimental to businesses and the environment.
When reusable packages are used in supply chains, they are continually tasked with carrying heavy loads. If the reusable transport packaging is not handled properly, these repetitive tasks can cause strain on the support system and lead to package losses.
This in turn leads to an increase of unrecoverable costs due to wasted material, increased labor, shipping fees associated with replaced practice or new purchases, or any other financial burden required to fix the lost reusable package issue.
On top of this, any major increase in resources used as a result of returnable packaging losses has direct negative implications on our environment as well, essentially negating the benefits of reusable transport packaging.
Businesses need to take steps to identify and prevent reusable transport packaging losses for both economic and ecological benefits.
What Makes Reducing Returnable Transport Packaging Losses Challenging?
Perhaps the biggest challenge when trying to reduce reusable transport packaging losses is getting a real-time, comprehensive view of reusable packaging inventory.
Many companies have trouble achieving this because manual record-keeping requires laborious physical scanning and does not allow for quick reaction should a reusable packaging asset go missing or become damaged.
As such, a lack of visibility is often the root cause of reusable transport packaging losses due to slow turnaround times and fragmented systems that fail to provide timely accuracy in tracking reusable packaging assets.
To mitigate these issues and make meaningful progress towards reducing returnable losses, companies need to invest in automation – modern IoT technologies and smart packaging solutions can help bridge this gap to give businesses greater transparency into their reusable transport packaging inventory.
How IoT Location Tracking Can Help Reduce Returnable Transport Packaging Losses
The Internet of Things (IoT) is revolutionizing the way businesses track reusable transport packaging.
With IoT location tracking technology, businesses can gain real-time visibility into their supply chain, allowing them to quickly identify any reusable transport packages that are lost or damaged during shipment through connected devices. This ensures that reusable packaging is reaching its intended destination and any losses incurred from reusable packaging occurring at any point in the supply chain can be quickly identified and addressed.
Because of this level of transparency into location data, using IoT asset tracking technology for reusable transport packages allows organizations to save time, money, and resources by avoiding issues associated with lost or damaged reusable packaging.
The Benefits Of Implementing An IoT Location Tracking System
In addition to providing real-time supply chain visibility, implementing an IoT location tracking solution can provide companies with many advantages in their operations:
– Increased Operational Efficiency: One of the primary benefits of implementing an IoT location tracking solution for returnable assets is increased operational and supply chain efficiency. With IoT sensors in place, businesses can quickly and easily locate assets that are due to be returned. This can save a significant amount of time and effort, as well as reduce the likelihood of assets being lost or stolen.
– Reduced Costs: By being able to track assets, businesses can avoid the need to purchase replacement items when they are lost or stolen. Additionally, businesses can use the data collected by the tracking solution to improve their asset management practices, which can lead to further cost savings.
– Improved Customer Service: With an IoT location tracking solution in place, you will be able to provide your customers with real-time updates on the status and location information of their orders. Additionally, you will be able to quickly and easily resolve any issues that may arise.
– Enhanced Security: With a tracking solution in place, businesses can monitor their returnable assets at all times via IoT devices and be alerted if they are moved without authorization. This can help to deter theft and improve the safety of employees and customers alike.
– Achieve Regulatory Compliance: Many industries are subject to regulations that require the tracking of certain types of assets. By using a tracking solution, businesses can ensure that they are in compliance with these regulations and avoid costly penalties
– Lower Carbon Footprint: Implementing an IoT location tracking solution can also help to reduce a company’s carbon footprint. This is because IoT asset tracking can help companies to optimize their routes, which can lead to fewer vehicle miles traveled and less fuel consumption.
– Optimize Asset Utilization: With a tracking solution in place, you will be able to track the usage of your assets and identify any areas where they are not being used effectively. Additionally, you will be able to make changes to your operations accordingly in order to optimize asset utilization.
– Reduced Risk of Loss or Theft: Finally, implementing an IoT location tracking solution can also help to reduce the risk of loss or theft for your returnable assets. With a tracking solution in place, you will be able to quickly locate and recover any assets that are lost or stolen.
Ultimately, by utilizing an IoT location tracking solution for reusable transport packaging, businesses can expect to receive immediate returns on their investments by drastically reducing losses and creating a more sustainable supply chain.
Key Features Of An IoT Location Tracking Platform For Returnable Assets
When exploring the world of IoT and smart tracking technology, companies dealing with reusable transport packaging should be looking for a few key features.
Firstly, organizations should ensure the IoT platform they select is both reliable and secure.
Furthermore, it should provide real-time visibility with the ability to access real data and insights, allowing them to make better decisions.
Additionally, the ease of integrating your existing systems, such as ERP or WMS, can be paramount to success when trying to maximize returnable transport packaging investments, so a cloud-based platform with API integration capabilities is ideal.
Lastly, it’s important that the returnable asset tracking solution they go for provides custom reporting in order to optimize their business processes.
Investing in a location-tracking platform that meets these criteria allows companies to secure their reusable assets within an efficient and cost-effective process.
Reduce Your Reusable Transport Packaging Losses With Radiant’s IoT Platform
All in all, the use of returnable transport packaging is an essential part of many businesses’ supply chain processes, but the loss of RTPs can have a major impact on a business’s operations and bottom line.
Implementing an IoT location tracking system for reusable transport packaging can help lower the risk of losses and reduce related costs associated with returns and repairs. Such a system would also offer transparency and detailed tracking information to organizations from production through to distribution.
Radiant’s IoT Asset Tracking Solution offers ease-of-use, scalability, and customizability suitable for any organization looking for an effective way to optimize and secure their asset management strategies. Our solution offers the key features mentioned above that— when implemented correctly – will help you track and monitor your valuable assets more effectively than ever before.
So, if your business is looking to significantly reduce your returnable transport packaging losses while wanting to save money overall, then explore our complete IoT asset tracking solution today, and request your free demo below.
Last Updated on March 24, 2023 by Radiant