Swift Transportation Company (NYSE:SWFT) has entered into a contract with ID Systems (Nasdaq:IDSY) to deploy the company’s VeriWise transportation asset management system on domestic intermodal containers. The contract is valued at approximately $3.1 million over five years.
VeriWise, engineered by ID Systems’ Asset Intelligence subsidiary, is designed to improve efficiency and security of transportation fleets by providing real-time data via on-asset sensors, satellite communications, and web-based software. The system’s capabilities include motion detection to identify the start and end of each drive segment, a patented cargo sensor that monitors the full length of a container to determine its load status, and patented power management technology for long, maintenance-free battery life.
One of the largest truckload carriers in North America, Swift has 34 major terminals and 2011 revenue of more than $3.3 billion.
“We pride ourselves on squeezing every ounce of efficiency out of our transportation services,” said Richard Stocking, Swift’s president. “Deploying the VeriWise system on our domestic intermodal container fleet gives us real-time visibility of that critical ‘last mile.’ It tells us when and where containers are taking longer than expected to unload, and enables us to quickly pinpoint empty containers. With this information, we can turn containers around quicker, minimize deadheading, reduce chassis rental costs, and maximize the revenue generated by each container.”
Mike Ruchensky, Swift’s vice-president and chief information officer, said, “We integrate the critical data provided by VeriWise directly into our enterprise systems, so everything we need to manage our container fleet is at our fingertips, in one place, for real-time decisionmaking. The net effect is a significant increase in the velocity and security of container shipments in our supply chain, which helps provide an optimal financial return on our assets.”
Based in Phoenix AZ, Swift operates a tractor fleet of about 14,546 units consisting of 10,524 tractors driven by company drivers and 4,022 owner-operator tractors, a fleet of 51,000 trailers, and 6,400 intermodal containers from 34 major terminals. Its services includes general, dedicated, and cross-border US/Mexico/Canada service; temperature-controlled, flatbed, and specialized trailers; and rail intermodal and non-asset based freight brokerage and logistics management services.
Visit www.swifttrans.com or www.id-systems.com for more information.
