RTI CEO provides Baking Tray Loss Insights to American Bakers Association Members
May 18, 2020
Dave Horvat, CEO of Real Time Intel, spoke at the Joint Logistics and Human Resources & Safety Professionals Group Conference on May 18. Hosted by the American Bakers Association, experts from Alpha Baking, Cypress Research, Aspire Bakery, Flowers Bakery, and others joined together at this hybrid event to discuss industry hot topics such as baking tray loss, new legislation, and emerging technology.
The baking industry is seeing an average annual loss of over 10M in tray loss/theft per company. This number doesn’t include inefficient use in loop/cycle/turn management, damage/scrap, and other operational inefficiencies visible throughout the impaired supply chain.
While this was the hot topic at this event, the baking industry is not alone. Billions of dollars in lost assets are reported annually across the global supply chain, with the majority of supply chain managers lacking complete visibility of their assets. As a result, assets leave the owners’ possession, and they often find themselves challenged with relying on hope and/or heroics to get them back. When they do, it’s on a semi-unpredictable schedule causing increased cost or disruption in the supply chain.
Real Time Intel (RTI) was recently named the 2021 Most Reliable Supply Chain Visibility Platform. RTI provides real time visibility and intelligence solutions throughout various industries. With clients like IFCO, Faurecia, Tarkett, and GE, Dave shared how all industries can benefit from the use of traceability data and insights into assets moving throughout the supply chain.
Discussing the advances and scalability of technology in today’s world, along with how data alone isn’t enough, Horvat painted a clear picture of the industry’s future and the cost savings it will come to achieve once more companies embark on digital transformation initiatives. Dave shared how customers have achieved a 60% reduction of lost assets in the first six months and how others have significantly reduced labor and eliminated the semi-annual tray or reusable packaging purchase.
“Many companies have no idea how to get started. Often, we find ourselves in the room with logistics professionals who can clearly articulate the problems they face but aren’t sure about the technology application needed or how to scale their modernization efforts in an affordable and manageable way. Our team thrives in those scenarios and genuinely enjoys mapping out the strategic roadmap with our customers. At the end of the day, RTI is focused on reducing costs and increasing efficiencies for those companies that work with us. Seeing them finally be able to make informed business decisions based on the insights our eP360 solution delivers is incredible to witness.” Said Dave Horvat.
If you’re interested in learning more about how you can use technology to track assets such as raw materials, parts, tools, finished goods, racks, totes, trays, and containers and turn that data into usable insights – we invite you to learn more at www.info.rtintel.com/aba.