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4 Ways Returnable Container Tracking Boosts Your Bottom Line

In the new year, businesses continue to explore innovative supply chain solutions. With this in mind, returnable container tracking must be part of these efforts.
 
In returnable asset tracking they may find new opportunities. These may include cost savings, operational efficiencies, and even environmental benefits.
 
Though critical to the supply chain, returnables have a history of waste and inefficiency. Returnable assets often aren’t returned by customers and supply chain partners. They are many times overlooked, forgotten, or stolen in warehouses and distribution centers.
 
Today supply chain managers seek to manage returnables through digital tracking methods. New digital solutions help supply chain partners regain control of their assets.
 
What is Container Tracking?
 
Container Tracking monitors the use and location of returnables in a manufacturing setting. In the past, it was common to track containers using spreadsheets or other paper-based methods. But, modern automated systems built around barcode or RFID are much more efficient.
 
What is a Container Tracking System?
 
For manufacturers, a container tracking system helps keep track of their returnable containers. Often referred to as returnable transport items (RTI), these items include pallets, totes and racks. These systems monitor current stock levels, condition and location of returnables. As a result, businesses can prevent loss, damage and production downtime.
 
Automated container tracking systems use Automatic Identification and Data Capture (AIDC) methods. For example, barcoding or RFID are effective solutions. This type of software ensures efficient monitoring as containers move through the supply chain.
 
How Does Container Tracking Work?
 
Barcodes or RFID tags attached to returnable containers allow real-time tracking. A container moves along an assembly line, between facilities or even among trading partners. During this process, simple scans of a barcode collect data. Also, an RFID portal can gather container data.
 
An advanced container tracking system can import this data to an ERP or back-end software. As a result, this creates a single system of record. In turn, you can view and analyze data from a convenient dashboard interface.
 
Four Ways Returnable Container Tracking Boosts Your Bottom Line
 
Returnable assets are becoming costlier and more resilient. This adds risk to poorly managed supply chains.
 
Industry-leading digital tools mitigate these risks. They do this by making returnable asset tracking easier and more economical.
 
Consider the following four ways returnable asset tracking technology adds business value.
 
1. Increase Supply Chain Visibility
 
Supply chain visibility means more than tracking products alone. Digital tracking tools allow you to locate returnable assets. Plus, you can see how long they’ve been there, how they’re used, condition and more.
 
Adding visibility to this side of the supply chain reduces waste, prevents theft and damage. Also, it gives you information about how customers and partners treat your assets.
 
2. Improve Customer and Partner Relationships
 
You count on your customers to return assets. In turn, they enjoy insights into how well their teams manage those assets.
 
According to Forrester, “Track and trace is about more than supply chain efficiency. A fully functional solution targets customer pain points, exceeds expectations to cement loyalty, and generates fresh value.” Returnable asset tracking gives you opportunities to improve business relationships.
 
3. Automate More
 
Automating strategic components of your supply chain is central to digital transformation. Also, it’s critical to building out the business efficiencies of the future.
 
Don’t overlook returnable assets as you invest in automated solutions. Wherever it’s appropriate, add automatic alerts and reporting to your returnable asset strategy. You will be a step closer to a more digital future.
 
4. Reduce Your Carbon Footprint
 
Your company may have to release a statement about its environmental impact. If not now, then someday soon.
 
Your returnable asset management strategy will either help or hurt your company in this area. This is critical, as these findings could affect taxes and regulations. They could even impact customer relationships.
 
When you can count on your tracking data, you know you’re getting the best value from your investments. That includes reducing waste and unnecessary re-purchasing of returnable assets. An investment today means fewer business problems down the line.
 
Don’t Overlook This Critical Element of the Supply Chain
 
There are some ongoing processes that drive tangible cost savings. These include reducing waste, increasing efficiencies, and improving customer relationships.
 
Returnable asset tracking tools give you a leg up on your competitors as you enhance these KPIs. Contact us to learn more about how Radley’s bar code software and RFID technology can close the gap in your tracking processes.
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