UK-headquartered technology company, Track Genius, is launching an intelligent shipment tracking label that can reduce costly supply chain waste and give companies the visibility they need to reduce supply chain disruption costs by up to 50 percent.

“Over 87 percent of supply chain leaders say they lack end-to-end visibility in their supply chains, which creates inefficiencies and leads to poor decision making,” highlighted Track Genius’ Global Commercial Solutions Lead, Stuart Tatters. “This lack of visibility contributes to poor production planning, and 10 percent of global manufactured stocks are wasted unnecessarily.”

The new Track Genius intelligent tracking label, developed alongside technology partner Sensos, provides the visibility companies need to eliminate waste in their supply chain and make significant cost savings.

“We know that supply chain disruption costs the average large company US$184 million annually, yet almost 60 percent of companies lack the visibility to manage the risks. Track Genius is the credit card-sized solution to this problem, and truly the solution companies have been waiting for,” Stuart adds.

The Track Genius label uses GPS and cellular technology to track a shipment’s multi- modal journey in real time, providing end-to-end visibility, and it operates in over 180 countries globally. It confirms the time and location of every shipment’s arrival, delivery and opening, reducing insurance claims for lost, missing or non-delivered items and removing the need to contact the shipper to check a shipment’s location. It can also report on shocks, tampering and temperature in transit and storage, reducing the risk of theft and cold chain disruption.

“By knowing where your goods and assets are in real time, and what condition they are in, you can identify issues early, make informed decisions faster, improve on-time deliveries, optimise your supply chain, and keep your customers informed in a way that will convince them to stick with you,” Tatters said.

He concluded: “From temperature-sensitive goods like medicines to high-value electronics like semiconductors, the Track Genius intelligent label provides end-to-end visibility for every shipment at every stage of the supply chain, enabling companies to cut waste, improve customer service and save millions.”