- THE MAGAZINE
I.D. Systems Inc., a provider of wireless solutions for securing, tracking and managing high-value enterprise assets, announced that National Retail Systems Inc. (NRS), a global logistics services provider, has executed a contract with I.D. Systems' Asset Intelligence subsidiary to deploy its VeriWise(TM) Track and Trace asset management system on a fleet of trailers. The contract is valued at approximately $1.7 million over five years.
VeriWise Track and Trace provides real-time GPS data via cellular communications and web-based software to improve the security and efficiency of freight transportation fleets. The system is designed for quick, flexible installation on a wide range of cargo-carrying assets, with patented power management technology to provide exceptionally long battery life and maintenance-free operation.
NRS offers an international transportation service network through four integrated companies – National Retail Transportation, Keystone Freight Corp., National Retail Consolidators, and World Logistics Inc. – to provide retail enterprises with factory-to-store supply chain management.
"NRS has a long track record of capitalizing on leading-edge technologies to improve our customers' supply chain performance, and our contract with I.D. Systems is a key strategic investment in advanced wireless information technology," said NRS President, Raymond Wisniewski. "We view the VeriWise Track and Trace product as the most reliable, cost-effective, easy-to-deploy system available for real-time trailer fleet tracking and visibility.
"We haul more than a billion pounds of freight every year," continued Mr. Wisniewski. "Technologies like VeriWise give us a critical competitive advantage and maximize the return on our investment in our transportation assets. Based on past performance, we are confident that deploying the Track and Trace system on our trailer fleet will help us reduce operating costs and improve our asset utilization by 10-15%."
John Tabor, NRS Director of Corporate Security, added, "In addition to being a powerful tool for efficiency, the VeriWise system is a key part of our industry-leading commitment to the security of our customers' assets. Cargo theft is a multi-billion dollar problem worldwide, with 85 percent of major thefts occurring during road transportation. NRS takes extraordinary measures to safeguard the assets we handle, and we expect the real-time trailer visibility and alert functions provided by the VeriWise system to help us maintain our sterling reputation for loss prevention."
I.D. Systems' COO, Darryl Miller, commented, "We are thrilled to expand our relationship with NRS. Under this new contract, we will be upgrading some tracking products that we successfully deployed almost 10 years ago, as well as significantly expanding the number of NRS trailers equipped with the VeriWise system. We are proud to provide affordable, easy-to-deploy asset tracking technology to help NRS secure and optimize its trailer fleet."