With the rise of new threats to cargo security, it is becoming increasingly important for companies to deploy electronic cargo tracking solution in their logistics operations. This technology is an integrated trip based security portal that combines the use of GPS, satellite, RFID and NB IoT to improve efficiency and security. Users of this solution will be able to track their cargo electronically alongside additional features necessary to their operations, for instance, the tracking of light, temperature and humidity levels amongst others, through the use of one set of hardware.
In addition to ensuring the security and visibility of containers, trucks and other assets in transit, this technology can also be used to track humans, animals and other non-motorised assets regardless of whether they are indoors or outdoors. This technology also includes a platform which sends out real-time alerts to clients whenever cargo is tampered with, whenever the cargo has deviated from the intended route and whenever a predetermined metric for any of the additional features being tracked is breached.
Cargo owners and private logistic companies that deal with sensitive, hazardous and high-value cargo that require secure chain visibility for traceability will find this technology useful.
Technology Features, Specifications and Advantages
This technology offers customers a scalable solution depending on their needs. It makes use of standalone, plug and play devices that are built to military specifications and can withstand tough conditions on long journeys. These devices can also be used to track explosives and other hazardous cargos. It can also be used to detect environmental changes to prevent spoilage or damage of goods.
This technology is an improvement from the state of the art as it is an end to end solution unlike the pre-existing hardware/software solutions available in the market. It is a smart firmware that improves power management.
The size of the market for IoT in transportation and logistics is estimated to average $150 billion by 2020. The potential applications for this technology includes:
- Containers, trucks and other assets in transit at high risk environments where cargo is prone to pilferage and theft;
- Transit vehicles carrying assets that have to be tracked individually;
- Fuel trucks;
- Bulk liquid containers;
- Goods going into bonded areas such as dry ports, warehouses and transhipment areas where such goods are not cleared for sale; and
- Goods going into and between Special Economic Zones and Industrial Development Zones where such goods may be subject to tax rebates and waivers.
This technology can help:
- Secure movements of imports and exports of landlocked countries;
- Increase ease of doing business index based on logistics efficiency;
- Increase revenue collection for customs and revenue authorities;
- Increase speed in which goods are delivered;
- Decrease port congestion by allowing secure CIQ outside of ports;
- Reduce crime in countries with high risk of cargo theft and pilferage;
- Reduce need for manual processes and manpower costs;
- Reduce unnecessary delays at check points;
- Reduce logistic costs to end consumers;
- Reduce insurance premiums for cargo;
- Improve reports and data analytics; and
- Improve supply chain traceability and visibility.