Returnable Transport Packaging (RTP) can be defined as multi-use containers and pallets to move goods across the supply chain. The market is valued around $22B and according to a recent market research report by Technavio, the global RTP market is expected to grow 8% CAGR from 2019-2023. According to Future Market Insight the RTP market will be worth in excess of $34B by 2028.
Long term cost savings that Returnable Transport Packaging brings to supply chain logistics in a key driver to their adoption and increased demand, but there can be downfalls. The management of your RTP fleet is paramount and assets being left idle are more susceptible to loss and theft. Radio Frequency Identification (RFID) is a low cost solution to the problem and it enables items to be tagged uniquely. RFID will be a key driver in the increased RTP market, but with the adoption of RFID being more prominent, the management of these assets becomes increasingly more important.
Having a partner to define a solution that will work for your unique supply chain is of the utmost importance. TrackX, Inc. is an enterprise asset management company deploying SaaS-based solutions leveraging IoT technologies for the comprehensive tracking and management of physical assets. TrackX's Global Asset Management for Enterprises (GAME) platform enables the IIoT by providing unique item level tracking, workflow processing, event management, alerting and powerful analytics to deliver solutions across a growing number of industries. TrackX delivers significant value to a growing list of Fortune 500 companies and for customers in industries such as transportation, beverage, brewery, healthcare, hi-tech, hospitality, mining, agriculture, horticulture, manufacturing and government. Learn more about our Global Asset Management for Enterprises (GAME) platform by clicking here
WHITE PAPER - RTI Asset ManagementMillions of returnable transport items (RTIs) such as containers, bins, pallets, racks and kegs move through the global supply chain, providing the most fundamental way in which parts, materials and finished goods reach their destination. However, the inability to effectively track these returnable and reusable assets creates considerable productivity, labor, cost and time inefficiencies. The end result is that companies spend more money purchasing additional logistics assets and hiring adequate labor to manage them. With TrackX GAME for RTI customers see significant improvements in each of these areas.
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