- Software company, TrackX Holdings (TSXV:TKX) has entered into an agreement with freight hauling provider, Shifflet Bros Enterprises
- During an initial three-year term, the company will provide Shifflet with supply chain and inventory management solutions
- TrackX’s Global Asset Management for Enterprises platform will automate processes which were previously done manually
- This will allow Shifflet to manage and deliver utility poles to utility operator worksites and service centres
- TrackX Holdings (TKX) is up 20.00 per cent and is currently trading at C$0.06 per share
Software company, TrackX Holdings (TSXV:TKX) has entered into an agreement with freight hauling provider, Shifflet Bros Enterprises.
Shifflet is a contract trucking firm, which serves companies in the electric utility industry. While this industry provides an essential service to its communities, it is facing increased regulations and supply chain complexity.
This complexity was recently exacerbated by disruptions to global supply chains caused by the COVID-19 pandemic.
Shifflet’s President, Gabe Anders, commented on the company’s need for TrackX’s services.
“Our customers operate essential services and infrastructure, so they rely on us to have accurate and timely data on inventory levels and delivery to service centres and job sites.
“For our customers, leveraging TrackX’s supply chain and inventory management solutions will take our services to the next level.
“TrackX brings a comprehensive SaaS-based supply chain solution and the industry experience to make this a game-changer for our operations,” he said.
For an initial term of three years, TrackX will provide supply chain and inventory management solutions. Under the contract, the company will help Shifflet to improve operational efficiency in its deliveries to utility businesses.
TrackX intends to deploy its Global Asset Management for Enterprises platform to capture data about Shifflet’s supply chain. The platform will gather accurate, real-time information about 18,000 high-value inventory items from four different suppliers.
The platform will manage the daily delivery of orders, performed by 19 of Shifflet’s trucks, across hundreds of destinations. These include electric utility worksites, service centres, and lay down yards.
The platform will then automate various processes in the supply chain which were previously done manually. These will include shipment receipts, inventory management, put away, order picking, routing, and delivery.
This will allow Shifflet to more efficiently and effectively deliver utility poles to utility operators, at various locations.
TrackX’s CEO, Tim Harvie, said that the company is proud to announce this relationship with Shifflet Bros.
“Now, more than ever, companies are facing increased pressure to improve supply chain visibility and efficiency.
“The TrackX IoT-enabled solution platform and extensive supply chain experience will help Shifflet automate many of their inventory management and supply chain processes, further differentiating them within the utility industry and enhancing service to their customers,” he said.
TrackX Holdings is up 20.00 per cent and trading at C$0.06 per share at 12:20pm EDT.
