Windward (LSE: WNWD), the Predictive Intelligence company applying AI to transform global maritime trade, launched today its Ocean Freight Visibility solution. The new solution enables freight forwarders to improve efficiency and scalability with automated data collection and analysis which provides real-time accurate ETA predictions, disruption risk predictions, reasons for delay, and location-based insights for containerized freight. Windward’s Ocean Freight Visibility solution is currently being used by global freight forwarding companies including DSV, Metro Shipping, and Cargo Amerford.
The supply chain has been severely disrupted during the global pandemic, with ocean freight rates up 1500% over the last two years. The maritime shipping industry transports around 90% of world trade, yet ocean liner reliability has also never been lower – with a mere 30% – 40% rate of on-time arrival. Improved supply chain visibility powered by large data sets and predictive insights will equip freight forwarders with the information necessary to respond effectively to constantly changing conditions, be it shifting weather, workforce shortages, or port backlogs.
“The supply chain today is facing a combination of factors that have been long in the making: the rise of consumer demand, lagging infrastructure, labor shortages, and a constant eruption of local disruptions. Put these together and you have a butterfly effect,” said Ami Daniel, Co-Founder & CEO of Windward. “We don’t know when the supply chain crisis will end, yet creating solutions to help manage supply chain risk is critical.”
Windward’s Ocean Freight Visibility solution allows users to input their containers, and proactively mitigate risks by monitoring critical shipment disruptions affecting container ETAs. The system alerts in real-time about any evolving delay allowing them to take action with their customers. The solution includes daily alerts and insights via email and is available through an API integration with existing transportation management systems or a web application.
Ocean Freight Visibility leverages Windward’s 11 years of deep maritime expertise, military-grade insights, and Maritime AI, to provide the most accurate ETA updates and predictions. The solution uses billions of data points and data sets from various sources including carrier data, weather data, location and AIS data, as well as vessel, port, and terminal data to garner insights and predictions for freight forwarders and provide much-needed visibility into the supply chain.
“Freight forwarders are the key to making the supply chain more efficient, but without the proper tools they are constantly reacting to evolving situations as opposed to initiating protective and proactive steps,” said Daniel. “Windward is proud to bring our years of expertise in deep learning, Maritime AI, and big data to give freight forwarders real-time visibility and provide actionable insights for their shipments helping them manage ocean freight in real-time.”
Source: Hellenic Shipping News