New solution provides greater asset control for customers using private chassis fleets.
TRAC Intermodal, a leading North American marine chassis pool manager and equipment provider, has launched a new product intended to provide greater control to customers using private chassis fleets. The TRAC GeoFleet is a smart chassis solution that provides customers with real-time visibility of assets, usage-based billing, and guaranteed availability of chassis equipment.
Real-time Visibility
TRAC GeoFleet uses the automation of geofencing and GPS tracking to provide fleet managers with the exact location of chassis equipment at their locations. Being able to quickly locate a chassis can drive operational efficiency by placing the asset into use quickly. In addition to saving time spent on non-productive tasks, customers can avoid delays that can lead to higher demurrage fees and detention charges, as well as customer service issues.
Usage-Based Billing
Many chassis equipment leases, including those offered by TRAC Intermodal, are based on negotiated daily or weekly fees. By adding TRAC GeoFleet, a customer is only billed for the time they are using the asset. When the asset exits the geo-fenced area, automated tracking begins and continues until the chassis returns to the customer’s geo-fenced location.
TRAC customers have guaranteed capacity, and TRAC Geo-Fence provides instant access to equipment when needed, reducing uncertainty resulting from market volatility.
“After the supply disruptions of the pandemic, customers have been focused on having greater control of their assets,” said Jake Gilene, Executive Vice President and Chief Commercial Officer for TRAC Intermodal. “TRAC GeoFleet offers customers predictable, cost-efficient chassis availability.”
During the turbulent times of 2022, Gilene said that TRAC Intermodal continued to invest in equipment. This strategy allows TRAC Intermodal to scale up or down, based on demand.
New Products Reflect TRAC’s Vision
“This new product is the result of two of the core foundations of TRAC Intermodal,” he said. “We are committed to offering greater value to our customers and to the use of technology to advance how chassis fleets are leased and managed.”
TRAC GeoFleet is only one example of how TRAC Intermodal is using technology to benefit customers. The TRAC Information Marketplace provides simplified access to data and usage reports, offering improved tools to manage customer activity. The company’s EZBook software serves as TRAC’s chassis reservation system, providing access to enhanced real-time inventory and chassis availability.
“We are also exploring new ways to use Artificial Intelligence (AI) for some internal functions like billing and invoicing,” he said. The company is also using AI to handle simple customer service questions, reducing the time to answer and using employees for more complex customer care issues.
Early customer response to TRAC Geo-Fence has been positive, according to Gilene, who said, “We have more than 4,000 customer relationships, and across all modes and industry segments, there is a universal desire to take control of their assets, leading to greater operational efficiency and better service to the end user.”
History of Intermodal Innovation
TRAC Intermodal has a history of introducing innovations that advance the industry. In the early 1960s, Marty Tuchman and his colleagues at the American National Standards Institute introduced a corner casting and a twist-lock mechanism to mount cargo containers to rail cars and chassis.
This innovation allowed for total interchangeability of equipment in every mode – ship, rail, and truck – and was an important contribution to the development of standardized containerization.
After making significant contributions towards containerization, Marty Tuchman and Warren Serenbetz founded Interpool Limited with a focus on leasing marine cargo containers.
The company helped drive the global adoption of standardized containers, providing cargo owners with flexibility and choice.
With the increased use of intermodal transportation and the demand for chassis on the rise, the company formed TRAC Lease, Inc. to provide chassis rentals. With a fleet of 35,000 chassis, TRAC began its strong growth trajectory.
In the 1990s, Interpool developed a computerized system for tracking containers and chassis. This software was a significant innovation in the intermodal industry.
In 1999, Interpool received the World Smithsonian Award for its innovative technology. The award is now part of the Permanent Research Collection on Information Technology at The Smithsonian’s National Museum of American History.
Throughout the 2000s, TRAC Intermodal continued to grow its fleet, gain market share, and offer new solutions for customers, like GeoFleet.
In a company press release, Daniel Walsh, President and CEO of TRAC Intermodal, said, “As the largest marine chassis provider and pool manager in the U.S., TRAC continues to redefine our category by developing smart on-demand fleet solutions that best fit the needs of our customers.”
