- 14 July 2016
- Transport / Logistics Services
Big Data solutions company TransVoyant has announced the launch of its Precise Predictive Logistics (P2L) supply chain focused live and predictive big data analytics solution.
According to the company, P2L can track, “aircraft, ocean vessels, rail cars, trucks, ports, airports, routes and other supply chain nodes via the Internet of Things (IoT)” in order to provide live status updates and predictions for shipments, orders and items.
“Supply chains that rely on latent status updates from legacy communication methods and networks, including EDI transmissions, are no longer competitive,” said Dennis Groseclose, CEO of TransVoyant.
“Latent status updates and poor predictability are forcing supply chain leaders to carry excess buffer stock, make bad inventory allocation decisions and preventing them from confidently promising inventory in-transit while quoting accurate delivery ETAs to customers.
“Furthermore, limited line of sight and no ability to predict the events that cause shipment delays and supply chain disruptions—weather, port congestion, traffic behavior, natural disasters, road construction, labor unrest, etc.—are also undermining supply chain performance.
“By continuously collecting live data and applying live and predictive analytics, our P2L solution addresses supply chain latency, limited line of sight and predictability issues while enabling firm customer order commitments prior to taking inventory ownership.”
TransVoyant said that it has been running the P2L system on a pilot programme with Brooks Running.
“Under the pilot Brooks is finding that P2L ETA’s are far more accurate than what the company had been receiving from its carriers and 3PLs,” said TransVoyant. “Most importantly P2L ETA’s are significantly more precise ten days from arrival. This is particularly important to Brooks because it is the trigger the company would like to use to commit inventory in motion.”