Internet of Things logistics management company CCP Technologies (ASX: CT1) has taken yet another step towards seeing its proprietary technology establishing a growing market share within the industrial logistics markets.
Focusing on the food industry as its first port of call, CCP intends to drag industrial logistics into the modern age by encouraging the shift from manual paper-based records to connected solutions that work autonomously.
Earlier today, CCP announced it had signed a memorandum of understanding with Eposode Data Solutions, a Sydney-based distributor that offers low-cost measurement, sensing and mobile scanning solutions to markets aligned with CCP.
Eposode manufactures a range of mobile and wireless scanning solutions which the two companies hope to optimise by collaborating on future business development.
Under the MoU, the companies have agreed that Eposode Data Solutions will assist CCP with business development to progress sales prospects towards actualised sales.
“We are seeing a dramatic shift unfolding where enterprises are transitioning from manual paper-based records to embracing connected solutions such as CCP. We have a large 2000-strong customer base in the food, healthcare and logistics industries which use our smart peripherals. Having explored initial discussions with our strategic customers, we know CCP presents a compelling value proposition,” said Stephen Joyce, director of Eposode Data Solutions.
CCP’s ultimate goal is to establish a presence in a market that will require as many as 450 million digital sensors within Australia and the US, in order to facilitate the digitally-enabled supply-chain efficiencies businesses are screaming out for.
“We estimate the total available market size in Australia and the US for shipment monitoring is 450 million monitoring points. The company’s first installation of its shipment monitoring solution is with a national food distributor who is conducting a trial,” said Mr Michael White, CEO of CCP Technologies.
New product launch
To demonstrate its innovative product design, CCP recently launched its most advanced shipment monitoring “Smart Tag” that satisfies critical control point monitoring requirements in transport and logistics projects.
The newly-launched shipment monitoring solution attempts to improve upon existing “passive data loggers” that monitor multiple data points such as temperature as various goods are being transported.
Data loggers are typically connected to a PC to download temperature data at the end of the journey, thereby making the process manual, inaccurate and error-prone. Most importantly, data loggers fail to provide real-time interactivity which erodes their ability to adequately mitigate risk when transporting perishable goods.
CCP says its shipment monitoring solution uses a novel “multi-path connectivity approach” which leverages diverse LPWAN, NFC and other communication systems to ensure data is transmitted continuously and Smart Tag operators are updated in real-time.
“By providing easy access to data at any point along the supply chain, our solution is designed to enable customers to prevent failures before they occur,” the company stated.
CCP captures reams of data using its installed sensors and an advanced Internet of Things (IoT) solution that is compatible with Wi-Fi. CCP says that its technology can provide a range of direct benefits to food distributors and will ultimately be applied in all industrial operations given the advantages that secure automated data curation and exchange technologies present.
The company’s CEO Michael White says that the tech solutions already being provided to various customers globally signify “transformational” supply chain opportunities that are capable of adding significant value to companies actively engaged in the supply-chain of perishable goods.
“Eposode Data Solutions’ business development assistance will augment CCP’s sales efforts. In addition, we see opportunities to integrate solutions offered by Eposode into the CCP platform, to deliver mutually beneficial outcomes. There’s also a potential to combine development capability to deliver bespoke solutions to customers,” said Mr White.