AIRPORT CITY, Israel,
June 4, 2018 /PRNewswire/ -- My
Size, Inc. (the "Company" or "My Size") (NASDAQ: MYSZ) (TASE:
MYSZ), the developer and creator of smartphone measurement
applications, announced today the launch of its BoxSizeID™ mobile
measurement technology for rugged hand held devices within the
shipping/parcel industry, where approximately 12% of shipments
arrive at logistical centers with inaccurate measurements,
according to data compiled by My Size.
Already available for mobile phones, My Size has developed
BoxSizeID to be compatible with other leading hand held devices
used within the shipping/parcel industry, like the Zebra TC51/TC56
and the Dolphin CT60 from Honeywell. The technology has already
been installed on these devices as part of a pilot program in
Israel, helping the pilot customer
realize a revenue increase of 2.5%, according to data provided from
the pilot program.
BoxSizeID streamlines delivery management through accurate
parcel measurement and cost calculation, real time dimensional
weight (DIM) details for improved logistics, and integration with
enterprise resource planning (ERP) systems through barcode scan,
image capture, and geo-location tagging. A consumer can utilize
BoxSizeID to measure the volume of a package they intend to mail,
and then receive a price quote and schedule a pick-up.
For couriers, the benefits are enhanced – they receive the
customer's order and already know the size of the package they are
picking up, enabling them to assign pick up of the package to the
appropriate truck. In the courier's logistics center, the packages
are scanned and measured, with that data being uploaded to the
company's ERP to ensure the customer's manifest matches what was
actually sent.
In addition to the foregoing, My Size is also in the process of
developing a technology that can match the volume of measured
packages to the volume of specific shipping containers so a courier
can properly estimate how many measured packages will fit into that
specific container, thereby maximizing efficiency.
"We are pleased to expand the compatibility of our BoxSizeID
technology to include other rugged hand held devices, which are
commonly used within the shipping/parcel industry," said My Size
CEO, Ronen Luzon. "Billing errors
due to inefficiencies in measurement are costly, as is lost space
in trucks and shipping containers that were not allocated correctly
due to a lack of accurate sizing information. With BoxSizeID, we
can take the difficulties out of package measurement and increase
efficiency with the parcel delivery value chain."
A report by Accenture estimates the express parcel market will
reach approximately $343 billion by
2020, driven by continued year-over-year growth in e-commerce. The
same report also states that many parcel firms have sought to
acquire leading technologies and companies in an effort to widen
the scope of their business, with improvements in Logistics and
Transportation, and Parcels and Express leading the way. Billing
errors resulting in additional costs to freight companies, while
inaccurate measurements lead to a 20% sub-utilization of warehouse
space due to inefficient slotting. This creates a significant
market opportunity for My Size and its BoxSizeID technology within
the shipping/parcel space. My Size intends to help shipping/parcel
agencies reduce costs and work more efficiently.
Please click here for a demonstration of how the BoxSizeID app
works.
Please click here for a demonstration of how the MySizeID™
retail app works.
Please click here for a demonstration of the SizeUp™
"measurement from the air" smart measuring tape.
About My Size, Inc.
My Size, Inc. (TASE: MYSZ) (NASDAQ: MYSZ) has developed a unique
measurement technology based on sophisticated algorithms and
cutting-edge technology with broad applications including the
apparel, e-commerce, DIY, shipping and parcel delivery
industries. This proprietary technology is driven by several
algorithms which are able to calculate and record measurements in a
variety of novel ways. To learn more about My Size, please visit
our website www.mysizeid.com. Follow us on Facebook, LinkedIn and
Twitter.
Cautionary Statement Regarding Forward-Looking
Statements
This press release contains certain forward-looking statements
within the meaning of the safe harbor provisions of the Private
Securities Litigation Reform Act of 1995. These statements are
identified by the use of the words "could," "believe,"
"anticipate," "intend," "estimate," "expect," "may," "continue,"
"predict," "potential," "project" and similar expressions that are
intended to identify forward-looking statements. All
forward-looking statements speak only as of the date of this press
release. You should not place undue reliance on these
forward-looking statements. Although we believe that our plans,
objectives, expectations and intentions reflected in or suggested
by the forward-looking statements are reasonable, we can give no
assurance that these plans, objectives, expectations or intentions
will be achieved. Forward-looking statements involve significant
risks and uncertainties (some of which are beyond our control) and
assumptions that could cause actual results to differ materially
from historical experience and present expectations or projections.
Actual results to differ materially from those in the
forward-looking statements and the trading price for our common
stock may fluctuate significantly. Forward-looking statements also
are affected by the risk factors described in the Company's filings
with the U.S. Securities and Exchange Commission. Except as
required by law, we undertake no obligation to update or revise
publicly any forward-looking statements, whether as a result of new
information, future events or otherwise, after the date on which
the statements are made or to reflect the occurrence of
unanticipated events.
Israel Press Contact:
Eran Yoels
Rimon, Cohen and Co.
Eran@rcspr.co.il
U.S. Press Contact:
Matthew Bretzius
FischTank Marketing & PR
matt@fischtankpr.com
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SOURCE My Size Inc.