Plano, TX - November 10, 2009. GE Asset Intelligence, the leader in satellite and cellular-based asset tracking solutions, has reached a five-year agreement with BASF to provide GPS-based monitoring of a segment of its railcar fleet. The GE VeriWiseTM solution, developed and tested over a three-year period in cooperation between GE AI and BASF Transportation Command, provides information critical for compliance with new TSA rules governing shipments of certain commodities. The durable hardware includes motion, temperature, impact, and tampering sensors that assist BASF in ensuring its fleet is secure.
"It is vital we do our part to keep our shipments safe. VeriWise provides us with an ever-present watchful eye on our fleet," said Steven Williams, Logistics Technology Manager at BASF. "The technology enhances the safety and security of our shipments, helps us monitor the conditions inside our cars and provides decision support tools for our rail operations team to help increase overall productivity."
The primary benefits of the system are related to homeland security and product quality, but the system also includes features that generate operational savings. As an example, railroads often charge demurrage when shipper owned railcars are left on railroad property, sometimes up to $2500 per car per day. Using the event-based location information provided by VeriWise, customers can avoid paying errant demurrage claims. VeriWise information can alert customers upon arrival and validate the railcar was instead on private client property. This is just one example of where BASF has successfully used GE VeriWise to create operational savings.
"This product is a great example of two companies working together to develop technology-based solutions to real problems," said Darryl Miller, COO of GE Asset Intelligence, LLC. "As TSA requirements evolved over the past several years, our teams adapted VeriWise capabilities."
The VeriWise product suite, which includes both cellular-based and satellite-based solutions, was recently ranked first in the latest vendor matrix released by ABI Research, a leading independent telematics research firm. Their matrix provides an evaluation of worldwide tracking hardware vendors, and gives an unbiased rating of all prominent vendor offerings based on product implementation and innovation.
About GE Asset Intelligence
Asset Intelligence is a leading provider of tracking solutions for manufacturers, retailers, shippers, and freight transportation providers. VeriWiseTM, an ecomagination product, offers a full range of equipment that provides mobile-asset tracking and condition-monitoring products and services to meet the market's desire for greater safety, security and productivity throughout global supply chains. By leveraging the latest wireless and web technologies, the VeriWise satellite and cellular-based platforms provide shippers and carriers with tools to better manage their fleet, freight, and maintenance operations. Quick access to actionable intelligence empowers them to better secure and utilize their assets. Asset Intelligence (www.ge.com/assetintelligence) is a division of General Electric and is headquartered in Plano, Texas.