ArcBest Launches Vaux Smart Autonomy™ to Unlock Supply Chain Efficiencies
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The introduction of Vaux Smart Autonomy by ArcBest marks a significant advancement in the logistics and supply chain industry. This technology is poised to disrupt traditional warehouse and material handling processes by introducing a high degree of automation and flexibility. The ability to integrate autonomous mobile robot (AMR) forklifts and reach trucks into existing warehouse operations without the need for significant changes is a key competitive advantage. It addresses common industry pain points such as labor shortages and the need for increased safety and productivity.
From a market perspective, the adoption of such technologies can lead to a reduction in operational costs and an increase in efficiency. Companies that leverage this technology may experience a competitive edge, as they can potentially offer faster and more reliable services. The impact on the stock market and investor sentiment will likely be positive if ArcBest successfully demonstrates cost savings and improved operational metrics through the deployment of Vaux Smart Autonomy.
The logistics sector is undergoing rapid transformation and the integration of advanced software, sensors and cameras into fleet operations represents the cutting edge of this change. ArcBest's Vaux Smart Autonomy system not only streamlines the material handling process but also introduces innovative features such as advanced dimensioning and 2D barcoding functionality. These features enhance the accuracy of inventory management and facilitate real-time tracking of goods throughout the supply chain.
Another aspect worth noting is the system's design for flexibility in operation modes—autonomous, remote, or manual—allowing for a seamless transition and integration into various operational contexts. This adaptability is crucial for businesses with diverse operational needs and can lead to broader industry adoption. The long-term implications for stakeholders include potential shifts in workforce dynamics, where human labor transitions from manual handling to oversight and intervention roles, necessitating new skill sets and training programs.
ArcBest's announcement of its annual investment of $175 million in technology and innovation underscores the company's commitment to staying at the forefront of industry advancements. This investment is significant as it directly contributes to the development of proprietary technologies like Vaux Smart Autonomy, which can potentially generate new revenue streams and increase market share in the highly competitive logistics industry.
For investors, the successful implementation and scaling of Vaux Smart Autonomy could lead to improved profit margins due to operational efficiencies. However, it is important to monitor the return on investment (ROI) for such a substantial annual expenditure. Investors should also consider the potential for market disruption and the ability of ArcBest to secure a first-mover advantage in the autonomous material handling space. The pilot programs with Fortune 500 companies will be a critical indicator of the technology's performance and its acceptance by major industry players.
ArcBest’s innovations support customer success, transform the industry and positively impact the world by solving ever-changing logistics challenges
Vaux Smart Autonomy builds on the launch of ArcBest’s innovative suite of hardware and software, the Vaux Freight Movement System — which has transformed how freight is loaded, unloaded and transferred using a mobile platform. Named one of TIME's Best Inventions of 2023, it reduces an hours-long process to mere minutes.
“Our commitment to innovation and ongoing investments in technology continue to drive ArcBest’s profitable growth and our customers’ success,” said Judy R. McReynolds, ArcBest chairman, president and CEO. “As supply chains become increasingly complex, we are introducing transformational innovations to the market that help our customers achieve their financial and operational objectives. Vaux Smart Autonomy will revolutionize material handling for customers, helping to optimize and unlock greater efficiencies in their warehouses, distribution centers and the overall supply chain.”
ArcBest is customer-focused and has a long track record of providing solutions that meet customers’ evolving needs. The company’s ability to deliver industry-leading technology like Vaux Smart Autonomy is rooted in listening, tracking trends and investing
Vaux Smart Autonomy
Vaux Smart Autonomy creates smarter, safer and more efficient material handling processes in warehouses, distribution centers and manufacturing facilities. The technology integrates easily with existing facilities and workflows, making it a practical solution for real-world products in real-world environments and making autonomy possible for businesses across industries.
The AMR forklift and reach truck fleet is highly versatile, with the ability to operate in autonomous, remote or manual modes. Equipped with advanced software, sensors and cameras, they can safely navigate a warehouse, detect and identify pallets and racking systems, and perform tasks such as loading and unloading, moving goods and stacking pallets. Additional capabilities include advanced dimensioning and 2D barcoding functionality. A teleoperator center complements the autonomous vehicles by remotely monitoring many autonomous robots simultaneously and stepping in to operate remotely when the autonomy needs human assistance.
Built to Maximize Efficiency and Reduce Costs
While the Vaux Freight Movement System and Vaux Smart Autonomy can operate independently, when used together they offer synergies that make supply chains even more efficient. With the Vaux Freight Movement System, a mobile platform can be pulled off a trailer at the dock in one movement, allowing an entire trailer to be completely unloaded in under five minutes. Once the Vaux mobile platform is off the trailer and on the dock, Vaux Smart Autonomy forklifts and reach trucks can access all four sides to complete the material handling processes autonomously.
Together, the Vaux suite provides the only end-to-end efficient autonomous warehouse materials movement solution in the industry, building efficiencies and solving for ever-changing logistics complexities.
“ArcBest is investing in and developing groundbreaking technology that advances the global supply chain, and we have a legacy of solving problems in new ways,” said Michael Newcity, chief innovation officer of ArcBest and president of ArcBest Technologies. “Vaux Smart Autonomy is a perfect example of our pragmatic approach to innovation. Today, businesses are facing challenges in their material handling processes, particularly when it comes to productivity, labor availability and safety. They need a practical solution that can be implemented without significant facility or process changes. Vaux Smart Autonomy improves efficiencies, adds labor flexibility and creates a safer working environment — even for companies with complex operations that traditionally have not been able to adopt autonomous technology.”
ArcBest is piloting Vaux with customers across various industries, including manufacturing, automotive and retail — many of them Fortune 500 companies.
Watch the short video at arcb.com/technology/vaux/smart-autonomy to see Vaux Smart Autonomy's capabilities. For additional details on the complete Vaux suite, visit arcb.com/technology/vaux. To learn more about ArcBest’s full scope of industry-leading technologies, go to arcb.com/technology.
ABOUT ARCBEST
ArcBest® (Nasdaq: ARCB) is a multibillion-dollar integrated logistics company that helps keep the global supply chain moving. Founded in 1923 and now with 15,000 employees across 250 campuses and service centers, the company is a logistics powerhouse, using its technology, expertise and scale to connect shippers with the solutions they need — from ground, air and ocean transportation to fully managed supply chains. ArcBest has a long history of innovation that is enriched by deep customer relationships. With a commitment to helping customers navigate supply chain challenges now and in the future, the company is developing ground-breaking technology like Vaux™, one of TIME’s Best Inventions of 2023. For more information, visit arcb.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240213775497/en/
Media Contact: Autumnn Mahar
Email: amahar@arcb.com
Phone: 479-494-8221
Source: ArcBest
