When a container is sent to the overseas, we are not aware of the package location and its condition, once it has left the warehouse. Hence, it is very risky not knowing the current status of your shipment. So, shipping container tracking is important.
With the help of an efficient asset tracking system, users are empowered to get real-time container information. The RFID enabled asset tracking system provides great visibility and keeps you updated all the time.
According to Research and Markets,
By 2027, there will be 267 million active RFID / asset trackers in use worldwide for industrial automation, logistics, supply chain, agriculture, construction, mining and related markets.
Vehicle asset tracking for fleet management will make up the largest portion until 2024 when it will be surpassed by tracking, locating and monitoring for other types of assets including shipping containers, livestock, machinery, equipment and tools.
Also Read: How Important Is It to Track Business Assets in Different Industries?
What is Asset Tracking?
Asset tracking keeps track of all asset movement. Assets incorporate expensive items such as laptops, computers, vehicles or any other types of equipment that plays an important part in the business.
The system provides information such as asset status, location etc. For asset tracking there are several asset tracking techniques are available such as via RFID tags, GPS, BLE, QR codes, Barcode etc.
The primary aim of the system is to refine the asset usage, provide security to valuable items, assets, and equipment. The other goal is to enhance asset control and asset performance, also minimize equipment loss.
How Does Asset Tracking Help in Shipping Container Tracking?
Well to start with, there is a lot of uncertainty that occurs in the shipping process. The first party (sender company) fills up the container with the product(s) & pays the delivery charges to the second party (liners company) thinking that it will reach its destination successfully & on time. However, the shipping process is long, complex, and prone to mistake.
Here is an example, a ship halts for the port of call, and by mistake, they also offloaded the container of the sender company. The liner company does not know until the ship leaves the port.
As a result, the shipment is not delivered on time can and delivery delayed by months. In order to avoid these types of scenarios, container tracking is a must. For container tracking asset tracking system can help.
There are many liner companies that are delivering shipments with the methods of asset tracking system assistance. This system ensures with container tracking that cargo is on the ship.
If the package is left then the sender company is informed and it can provide another product(s) then the left cargo is collected back by the liner company and returned to the sender company.
What Are the Benefits of Shipping Container Tracking?
Below we have mentioned some of the benefits of shipping container tracking:
Also Read: Importance of Real-Time Asset Tracking in Aviation Industry
1. Avoiding Theft
We know theft is a big problem all over the world. Smart thieves take advantage of low security resulting in theft. A liner company is commonly held responsible liable for lost or stolen containers which are justified.
So, it is important for the liner company to keep track of the container. An asset tracking software system offers valuable information when container tracking is implemented. It keeps track of assets via GPS technology.
The container attached to GPS keeps you updated at regular intervals without compromising on accuracy. However, there are few problems with GPS such as they are expensive and power-consuming (depending on GPS type).
2. Real-Time Information
Containers are constantly moved from one place to another which is a crucial part of the logistics industry. When you know real-time information about assets or container, the information can be coordinately effectively ensuring that no harm is done to container and inside package arrive safely in one piece.
3. Asset Recovery
According to the safety4sea,
“Cargo theft is a global challenge with a major negative impact on supply chains and the world's economy, affecting not only the shipping and logistics industry, but also consumers, retailers and insurers. To put this into context, cargo crime has costed an estimated US$22.6 billion in 2015, while the top five natural disasters costed a collective $33 billion, research from the British Standards Institute (BSI) has indicated.”
These numbers are shocking and it also shows how important it is to keep our assets safe! The asset tracking system provides you with a fighting chance against cargo theft. As it provides the accurate location of the container. So, fast action can enhance the recovery probability of containers.
4. Avoiding Additional Expenses
When the first party faces issues in moving goods via the supply chain, this can definitely add up as an operational expense. But an asset tracking system can give you heads-up regarding the delayed or compromised shipment.
A useful feature of the asset tracking system is a check-in check-out features in the software that can be very helpful for the liner company. Through this feature, the container is always informed and minimize the chances of misplacement of the container.
We know that the asset tracking system has revolutionized the transporting & logistics industry. Every industry tries to adopt new technologies and this industry is no different.
As there is a problem which can be very harmful to the business. Asset management software can really help in managing and overcoming those problems.
Essentially, delivering shipment via ship is a very complex activity€”yet in case you're willing to work through these complexities, you can find an answer that suits your association's particular needs. We have worked with several organizations to implement an asset tracking system.
Also Read: How Crucial Is It to Include Real-Time Asset Tracking System?
Frequently Asked Questions (FAQs)
1. What is the first Party and second party in logistics industry?
The first party is that organization who wants to send the goods to another place or country with the help of a shipping container. Second party is that company which takes money and responsible to send good in the container from one place to another via ship.
2. How would you track the location of the company asset?
For tracking the location of physical assets barcode labels or Radio frequency identification tag or Global Positioning System tag. These tags or labels have a unique number through which an asset tracking system helps in finding or knowing asset location.
3. Which technology is used in Shipping container tracking?
There are several technologies that are available for tracking but specifically for Shipping container tracking mostly used technologies are GPS & IoT (Internet of Things).