Returnable Container Tracking Systems – How They Can Save You Money?
How can Information Technology and a returnable container tracking system, provide cost saving solutions and increase ROI for your fleet of returnable shipping containers? Using the Internet and enabled by media such as electronic file transfer, RFID or Bar Code, a returnable container tracking system can be a major step towards controlling, recovering and securing returnable shipping containers during their entire life cycle. Unlike a GPS location application, the returnable container tracking software solution necessarily includes not only each returnable container’s most recent location but also a permanently archived history or “passport” from the date the returnable shipping container was acquired.
While a returnable container tracking and recovery solution can help with internal and external audit requirements, regulatory compliance and international trade requirements, it will drive up the overall cost effectiveness of the returnable container fleet.
Some of the management benefits you should also expect from automated returnable container tracking software can be derived from a focus on event-triggered exception or smart reports. This should address potential trouble areas of the returnable container fleet performance such as stranded containers, excessive dwell or transit times or inordinately high damage. Another benefit of a container tracking system would be the ability to sort or rank customer or supplier locations from “first to worst” in terms of the container fleet performance while under customer or supplier control. The routine flagging of returnable containers that are due for maintenance or testing and certification will avoid loading outbound product into an inappropriate returnable container that can’t be shipped.
The returnable container tracking system will improve Return on Assets (ROA) by increasing the velocity and utilization of the returnable containers, which can be tracked and measured. As a consequence, it will provide better performance intelligence when the container fleet size needs to be increased, or in the alternate, identify an opportunity to downsize the container fleet.
Filed under Tracking Software by on Dec 22nd, 2009. Comment. 
Returnable Asset Tracking Systems – How They Can Help Your Company With Sarbanes-Oxley Requirements
Can a returnable asset tracking system help in the requirements of Sarbanes-Oxley? Yes it can and it will save you money too!
Sarbanes-Oxley Section 404 requires companies with large dollar volumes of returnable assets to effectively track those assets to ensure accurate balance sheets and income statements. Without a returnable asset tracking and recovery system in place, companies open themselves to Sarbanes-Oxley liability if error-prone processes lead to significant misstatements of asset positions. This can be a particular issue with a fleet of returnable shipping assets, such as totes, tanks, containers or cages.
Using the Internet and enabled by media such as electronic file transfer, RFID or Bar Code, a returnable asset tracking system can be a major step towards controlling, recovering and securing returnable shipping assets during their entire lifecycle while aiding in compliance with Sarbanes-Oxley. Unlike a GPS location application, the returnable asset tracking software solutions includes not only each returnable asset’s most recent location but also a permanently archived history or “passport” from the date the returnable shipping asset was acquired.
In addition to assuring compliance with Sarbanes-Oxley, the returnable asset tracking system support internal and external audit requirements, regulatory compliance and Trade (NAFTA) requirements but also improves Return on Assets (ROA) by identifying unneeded inventory and increasing utilization of tracked returnable assets.
Some of the management benefits you should also expect from automated returnable asset tracking software can be derived from a focus on event-triggered exception or smart reports. This should address potential trouble areas of the returnable asset fleet performance such as stranded assets, excessive dwell or transit times or inordinately high damage.
Filed under Tracking Software by on Dec 22nd, 2009. 2 Comments.