BeWhere takes aim at the mobile asset pallet tracking market
BeWhere Inc. (TSXV:BEW) is taking aim at the mobile asset tracking market, including the North American pallet market, which it sees as a significant business opportunity for its patent-pending technology.
There are between 1.8 and 1.9 billion pallets in use in the USA. The pallet market in the United States is extremely lucrative, taking in roughly $7 billion per year ($30 billion worldwide).
Tracking assets and their status is a critical optimization goal. In fact one could argue that Wal-Mart’s success is primarily due to its systems and processes for supply chain management which coordinates a sprawling network of nearly 160 distribution centers covering almost 120 million square feet and all within 130 miles of the stores it supplies.
But BeWhere permits SMEs to engage into real time asset management without the need for large capital costs.
Rather than using Radio-Frequency Identification (RFID) technology, the company BeWhere relies on smartphone Bluetooth technology, which is more commonly widespread and capitalizes on the ubiquitous smartphone and tablet technologies.
BeWhere attaches small battery-powered beacons, about the size of a business card and one centimetre thick, and which comes with an accelerometer, temperature sensor and light sensor, high-intensity LED and buzzer. By recording data such as temperature, motion, light and impact, it can then transmit this information to the user’s smartphone to communicate this information. The range of the device is 250 meters, with a default transmission rate of once per second. Data recording continues even when out of range, and is then transmitted once a connection is restored. Batteries are intended to last for two years. The LED and buzzer facilitate finding the beacon position in the warehouse.
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In addition to targeting the tracking and monitoring of goods in transport, the company is also targeting construction and utility industry assets, as well as paramedic services.
According to Material Management & Distribution Magazine, “the pricing for the service is based on the number of beacons being used.
At the moment, BeWhere is not charging for users who want to try up to 10 beacons. Above that, to 100 beacons, the cost is $200 per month. If a user were to have over 10,000 beacons, …the price would come down to about 20 to 30 cents a month per unit. The beacons are sold for $45 each.”
BeWhere Inc. is an Internet of Things provider of real-time information on equipment, tools and inventory in transit and at facilities. BeWhere designs and manufactures beacons and develops mobile applications, middle-ware and cloud based solutions enabling a level of operational visibility that was previously unavailable and / or cost prohibitive using other technologies.
Dr. Luc C. Duchesne is a Speaker and Author with a PhD in Biochemistry. With three decades of scientific and business experience, he has published ... <Read more about Dr. Luc Duchesne>