UK pallet service provider Junction 4 Pallets and Irish technology company Tracworx have developed a new asset management solution for tracking packaging assets.
Tracworx was established by CEO Chris Kelly, Fionn Barron, and Eoin O’Brien.
The developed asset management solution focuses on the comprehensive management of returnable transport items (RTIs).
The system is intended to streamline logistics by improving item turnaround, overseeing maintenance, and reducing the risk of theft. It also enables Junction 4 Pallets’ clients to safeguard valuable goods while they are in transit.
The tracking solution will allow customers to monitor their reusable plastic containers in real time from any location.
It reportedly provides more accurate stock tracking, greater transparency, and lower administrative demands.
The tracking platform is powered by radio-frequency identification (RFID) tags, which store and transmit information for each asset.
These tags function as digital records that follow containers through the supply chain, helping maintain accountability for each asset throughout its journey.
The tags communicate with a cloud-based server, relaying data and status updates.
Strategically placed satellite trackers gather and transmit this information along the route.
RFID technology is widely used across the retail, transport, and food production sectors.
Kelly said: “Tracworx started in 2016. At the time, it was patient tracking, we were focused on hospitals and managing the flow of patients, helping hospitals optimise operating theatres.
“We started working with Apple TV and other companies like Reagecon. Initially, it was just tracking contacts for Covid. Out of that, we then realised there’s a bigger supply chain opportunity we should go after.
“At Tracworx, we manage returnable transport items, essentially providing a system for customers to manage those assets digitally. We place smart tags on assets and turn them from being silent pieces of equipment to pieces of equipment that give back data."
