🧊 IoT solutions for cold chain

November 08, 2024

Welcome back to CubeCold News where we cover the latest developments in the cold chain industry and temperature-controlled logistics.

In today’s edition:

  • Top 10 uses of IoT in supply chains

  • Identiv and InPlay partner for BLE-enabled IoT solutions in cold-chain

  • ArcticRx cold chain breakthrough prevents pharmaceutical and food loss

  • Three out of four European shippers have experienced supply chain disruption in the past 12 months

  • Lineage, Inc. reports third-quarter 2024 financial results

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News

Identiv and InPlay partner for BLE-enabled IoT solutions in cold-chain, healthcare, and automation Identiv and InPlay announced a strategic partnership to develop Bluetooth Low Energy (BLE)-enabled IoT solutions, combining Identiv's tag design expertise with InPlay's NanoBeaconâ„¢ technology.

  • The collaboration will initially focus on cold-chain temperature compliance solutions for food and logistics industries, with plans to expand into healthcare and industrial automation applications.

  • The partnership will utilize InPlay's IN100 SoC chipset family, with manufacturing taking place at Identiv's facility in Thailand.

  • InPlay's NanoBeacon technology offers ultra-low power consumption, real-time tracking, and sensor integration capabilities.

  • The companies will co-brand their solutions and collaborate on marketing initiatives to increase market awareness. (link)

ArcticRx cold chain breakthrough prevents pharmaceutical and food loss Indiana startup ArcticRx has developed an innovative shipping container to address cold chain logistics challenges in pharmaceutical transport.

  • The company's dishwasher-sized pod can maintain temperatures as low as -78°C for over 21 days using dry ice, roughly five times longer than existing solutions.

  • Co-founders M. Shane Bivens and Stuart M. Lowry designed the container to tackle the significant waste in temperature-sensitive pharmaceutical shipping, where about half of overseas shipments are lost due to cold chain failures.

  • The pods are made from durable, recyclable polyethylene and can be reused hundreds of times, offering a sustainable alternative to traditional polystyrene containers.

  • Currently producing 45-85 units weekly, ArcticRx has secured initial contracts and is exploring applications beyond pharmaceuticals, including food distribution.

  • The technology eliminates the need for battery-powered refrigeration and can maintain consistent temperatures across various transportation modes. (link)

Top 10 uses of IoT in supply chains. Supply Chain Digital takes a look at the Top 10 uses of IoT in supply chains and the companies harnessing this technology

1. Real-time tracking and monitoring IoT sensors provide continuous location and condition tracking of shipments throughout their journey, particularly valuable for cold chain logistics, as demonstrated by companies like DHL, Maersk, Amazon, and Nestlé.

2. Predictive maintenance Companies like Caterpillar and Siemens use IoT sensors to detect early signs of equipment wear and tear, enabling proactive maintenance scheduling to reduce unexpected downtime and extend equipment life.

3. Warehouse management DHL, Amazon, and Walmart employ RFID tags and sensors to streamline warehouse operations, track stock levels, and automate reorders, with Walmart partnering with Symbotic for high-tech automation solutions.

4. Temperature and humidity control Critical environmental conditions are monitored in real-time for pharmaceutical and food shipments, with companies like Hapag-Lloyd using smart containers equipped with IoT sensors to maintain optimal conditions.

5. Fleet management Major logistics companies like DHL, Amazon, Walmart, UPS, Maersk, and FedEx utilize IoT solutions to optimize routes, monitor vehicle conditions, track fuel consumption, and enhance driver safety.

6. Demand forecasting Companies such as Amazon, Coca-Cola, Unilever, and Nestlé collect data from multiple IoT sources to predict demand trends and align production schedules, with Coca-Cola specifically monitoring vending machines for real-time consumer preferences.

7. Asset tracking and theft prevention Bosch, DHL, Maersk, and Tech Mahindra incorporate IoT-enabled GPS trackers to maintain visibility of valuable assets and respond quickly to any route deviations or potential threats.

8. Quality control and inspection IoT sensors help companies like DHL, Walmart, Maersk, Siemens, and Bosch improve product consistency and reliability by monitoring various factors throughout the production process.

9. Energy management Siemens, Amazon, and Schneider Electric use IoT to monitor and optimize energy consumption in warehouses, factories, and transportation fleets, reducing their carbon footprint and operational costs.

10. Customer experience enhancement Leading brands like Coca-Cola, DHL, FedEx, Amazon, L'Oréal, and Zara leverage IoT to provide accurate delivery updates, track inventory in real-time, and deliver personalized shopping experiences. (link)

Three out of four European shippers have experienced supply chain disruption in the past 12 months A recent Maersk survey of over 2,000 European customers reveals widespread supply chain disruption, with 76% of businesses experiencing operational delays in the past year.

  • The financial impact has been significant, with 58% of cargo owners reporting higher-than-expected costs due to these disruptions.

  • The survey highlights that 22% of businesses faced more than 20 disruptive incidents in the past year, while one-third struggled to secure production materials.

  • The main causes of disruption are increasing geopolitical conflicts and severe weather events, with 80% of logistics professionals identifying geopolitical instability as the biggest threat to supply chains in 2024.

  • In response, 53% of businesses are considering new sourcing locations, with 33% looking at European options.

  • Turkey emerges as the most popular alternative sourcing location (11%), followed by Egypt (7%), Poland (6%), Morocco (3%), and Romania (2%). (link)

Lineage, Inc. reports third-quarter 2024 financial results Lineage, Inc. (NASDAQ: LINE), the world's largest temperature-controlled warehouse REIT, reported its third-quarter 2024 financial results, marking its first earnings report since the landmark $5.1 billion IPO in July 2024.

  • The company's total revenue increased slightly by 0.5% to $1.3 billion.

  • Despite reporting a net loss of $543 million ($2.44 per diluted share), Lineage showed strong performance in other metrics.

  • Adjusted EBITDA rose 5.4% to $333 million, with the margin expanding to 24.9%. AFFO grew significantly by 51.8% to $208 million, with AFFO per share up 20% to $0.90.

  • The company used IPO proceeds to reduce $4.9 billion of debt and declared an initial quarterly dividend of $0.38 per share. Lineage expects full-year 2024 AFFO per share of $3.16 to $3.20.

  • The company also announced the acquisition of ColdPoint Logistics for $223 million, expanding its presence in the Kansas City market. (link)

Other headlines

The CMA finds that GXO's acquisition of Wincanton could reduce competition in the UK contract logistics market.

Logista has acquired Transportes Moncayo, a Spanish refrigerated transport company, strengthening its temperature-controlled logistics capabilities in northwest Spain.

Webfleet partners with Schmitz Cargobull for integrated trailer telematics solution.

Magnavale announced that construction of its highly anticipated cold-store facility at Easton is entering the final stages.

Maersk opens its first own-licensed bonded warehouse in north Vietnam.

Toll launches new Melbourne warehouse specifically designed to support life sciences and healthcare logistics.

New compostable gel pack increases sustainability for cold chain shipping (video)

Ryder System recently named Prime, Inc., its Refrigerated Carrier of the Year at the 27th Annual Ryder Carrier Quality Awards.

XPO Logistics holds first UK Apprenticeship Awards to honour its apprentices across the business.

Uganda strengthens immunization program with new cold chain equipment.

That’s it for today!

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