ST. LOUIS--(BUSINESS WIRE)--April 28, 2003--GE TIP, a leader in trailer fleet solutions, today introduced GE VeriWise(TM) asset tracking for trailers, an innovation designed to help privately owned fleets and trucking companies improve their productivity and logistics management capabilities. The introduction was made at the National Private Truck Council meeting here.
The latest innovation from GE will allow customers to easily locate tethered and untethered trailers anywhere in North America.
GE VeriWise asset tracking is a new trailer management system that allows fleets to pinpoint trailer locations in order to improve both asset utilization and operational flexibility, said Scott Nelson, vice president, National Accounts, GE TIP. This is a highly versatile platform, designed for ongoing enhancements and customer options.
The system uses a dual satellite network -- which enables fleets to locate trailers outside of the US borders as well as in urban canyons -- to allow customers to accurately locate a trailer at all times.
The asset tracking solution is based upon in-depth customer research as well as GE's extensive equipment monitoring knowledge; as such it has applicability to other assets beyond trailers.
When the GE VeriWise development process started, GE TIP was a customer seeking an asset tracking solution for its own fleet. Using its rigorous Six Sigma process, the company surveyed more than 1,000 of its customers and conducted an exhaustive analysis of available technology, collecting over 40,000 data points while running the competitive products on GE trailers.
We came to the conclusion that there wasn't an asset tracking solution that offered the right combination of performance, features, price and expandability, said Nelson.
So we turned to the wealth of technology resources available within GE to create one. The end result of that process is GE VeriWise asset tracking, a solution that customers can depend on, backed by the financial strength of the General Electric Company.
The system consists of a durable transceiver and battery pack mounted together in the trailer nose behind a plywood panel, and a low profile antenna, which is placed on the upper right front panel below the rail. Installation of GE VeriWise components can be performed at customer sites or at a local TIP facility.
GE VeriWise features a 4-year battery that can operate untethered for up to 120 days. It recharges when the trailer is tethered to a tractor or can be hooked up to a mobile charging unit.
Trailer location notifications are set to occur automatically at regular intervals or also can be initiated by polling, or electronically contacting, the trailer. Customers can access trailer fleet information and export data by logging on to their Premier Services(TM) account at www.tiptrailers.com.
Use of GE VeriWise can eliminate manual trailer searches and the need for drivers to check in via cell phones or pagers. It also helps identify idle trailers that can be placed back in revenue service; can possibly lower insurance claims by reducing the number of claims for lost trailers, and show when detention billing should be initiated.
Premier Services is a free online service available to all GE TIP customers at www.tiptrailers.com. It provides 'round-the-clock, password-protected access to comprehensive account information.
Premier Services works in conjunction with TIP FastLane(SM), a web-based service where customers can reserve over-the-road trailers and make one-way trailer moves.
A unit of the General Electric Company (NYSE:GE), GE TIP is a leader in over-the-road trailer services with more than 40 years' experience in the trailer renting, selling and leasing business. With a fleet of more than 125,000 units, GE TIP is headquartered in Devon, Pa., and has an extensive network of over 100 branches in the United States, Canada and Mexico.
GE is a diversified services, technology and manufacturing company with operations worldwide. For more info: www.tiptrailers.com and www.ge.com.
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CONTACT: GE TIP/ModSpace
Patrick Brennan, 610/648-6498
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