Tracking Your Returnable Shipping Assets

When you think of the logistics supply chain the first thing that comes to mind are large warehouses and storage units with several pallets and crates stocked up with goods – practically everything that we consume on a daily basis has probably at some point been shipped or transported in a pallet, crate or container. 

There are several complex supply chains set up at a city level, country level and globally for the movement of assets/goods. 

Pallets can be purchased or pooled – either way they are all in some kind of danger! They have to travel and be transported to various places and can get lost in the shipping process! 

The biggest challenge with reusable transport packaging is the inability to utilise the pallets and crates to their fullest potential as they may not find their way home. 

Pallets, crates or any RTP can be difficult to track in a complex supply chain where reverse logistics is a hassle pretty hard to know which of your users is innocuously hoarding, losing, or even damaging your assets.

Why Bother With Tracking Shipping Assets When They’re So Easily Replaced?

When you think in terms of losing single pallets, losing one here and there may seem like a trivial loss. However, when you add up all the lost and damaged assets – they no longer seem like assets but more as liabilities. 

Tracking your RTP shipments and investing in a pallet management system will help you strategically plan your supply chain movement and maximise profits and minimise trivial losses that can be prevented simply by getting your hands on a pallet management software. 

Five reasons to get a pallet management software to track your RTP

1. Better management of your RTP

Supply chains come with complex tasks and procedures that need attention to detail that logistics personnel must deal with on a daily basis. 

There are millions of shipments that need to get handled and also at an efficient speed – yet there are still tasks done the old school manual way (which is surprising). 

Tracking your supply chain assets is one of many tasks a pallet management software can help you optimise. 

The heightened visibility that a pallet management system brings will help improve supply chain efficiencies in areas such as:

• Identifying losses: Being able to track when and where they may be happening. Asset tracking using a pallet management system will help you spot leaks in your supply chain and close them as soon as possible. The sooner you can identify the losses – the sooner you can prevent them! 

• Better accountability: A pallet management system gives you the opportunity to view accountability. For example, with Logsoft you can give certain team members access to certain parts of the workflow and hold them accountable for any mistakes in that part of the workflow process. This also allows you to quickly pinpoint flawed tasks without having to make any assumptions on who is doing it wrong where. 

• Better balanced accounts: Because you will have better accountability it also means you will have better predictability.

Every lost pallet or crate, every pallet that is overstock or damaged is going to hurt your bottom line. 

2. Better ROI on your RTP

With RTP getting damaged, lost, hoarded, or simply rerouted incorrectly you could be possibly taking a fair hit to your bottom line. A loss that can be avoided. 

An RTP is an investment and an asset for you when you are in that business and needs to be fully utilised in the most efficient way through its life cycle. 

Tracking your shipping assets will help you tackle:

• Unused assets: If you are trying to put off purchasing those new pallets as it is capital intensive and can be prevented, tracking with a pallet management system will help ensure you don’t let your assets turn into Non Performing Assets (NPAs). 
• Losses due to theft: This is applicable if your shipping assets have good resale or scrap value. By simply investing in a pallet management software – you can track your pallets and you can also count them easily on their return. 

3. Minimize Pallet Buffer Stock Cost — Because Excess is Excess

Whether it is buying pallets or renting pallets, you still have a cost to deal with. Having to repeatedly reinvest in assets costs money and may not make sense as it may lead to you having extra RTP due to some being overstocked somewhere in the supply chain. 

Overstocking and others creating stock buffers will inevitably slow down your RTP circulation and reduce your pallet utilization – impacting your overall ROI.

With constant tracking and visibility on a single digital platform offered by pallet management software – you don’t have to wait around for someone else to do a manual audit and come to you in the end with lost and damaged assets.

4. Reduce Downtime

When it comes to running an efficient supply chain you need to have various software tools hands to make sure you are all over handling those operations. 

By using a pallet management software to track your RTP – your supply chain will run smoother and will also be available at your fingertips. This will help you track where your assets are quickly and ultimately impact how smoothly your supply chain works. 

Tracking your returnable supply chain assets will tell you where they are, or at least allow you to find them quickly because it ultimately affects your throughput and things such as:

5. Make Your Supply Chain Future-perfect

With a global shift towards accountability, environmental responsibility and increased expectation towards improved efficiency and customer service – supply chains across different sectors have to now invest time in effective supply chain processes to meet customer service requirements. 

By investing in a pallet management system, you can track the deployment in real-time of your shipping assets in your supply chain. 

Your supply chain managers will be able: 

•  Establish greener logistics: There is a shift towards being more sustainable and responsible as a business now and by implementing a more efficient supply chain that is more considerate of the environmental footprint. 

By investing in a pallet management system you can ensure resources are used as efficiently as possible. Tracking and monitoring your pallets and containers will allow you to increase the speed of recall and recirculation of your shipping assets such as pallets, crates and containers – this results in an opportunity to invest less in new reusable shipping assets.

Tracking provides visibility and traceability of your RTP that overall increases usability and maximises profitability.