Proving the Business Case for the Internet of Things

Transvoyant launch real time logistics analytics

William Payne
July 14, 2016
 

Supply chain data specialist Transvoyant has launched a logistics analytics platform designed to work with real time supply chain data. Transvoyant's Precise Predictive Logistics (P2L) application is designed to track aircraft, maritime vessels, trains, trucks, as well as movements through ports, airports and rail and road routes using Internet of Things technologies to provide real time analytics, live status updates and predictive forecasts 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 Transvoyant's chief executive, Dennis Groseclose. "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 behaviour, natural disasters, road construction, labour 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."

Sports clothing and running shoe manufacturer Brooks Running has been piloting TransVoyant's P2L to gain estimated times of arrival on shipments.

According to Transvoyant, Brooks has found that P2L ETA's are more accurate than the estimates given by Brook's carriers and 3PLs. In particular, P2L ETA's are significantly more precise ten days from arrival. For Brooks this is important as it is the trigger the company would like to use to commit inventory in motion.

"Getting real-time status updates about the location of our ocean shipments and purchase orders will take our service excellence to the next level," said Chase Mueller, Manager of Supply Chain Visibility at Brooks Running. "Before TransVoyant, we received two status updates via EDI from our ocean carriers—vessel departed and vessel arrived, and even those messages were latent. With the TransVoyant P2L solution, we know exactly where each shipment is, and when it will arrive, at every defined pulse point of the journey. This should enable us to more effectively plan our downstream operations, optimise lead times, measure carrier performance, and provide enhanced service to both our trade and direct to runner business."

TransVoyant P2L comes with pre-configured integration to a number of supply chain planning and execution systems along with a library of real time and predictive insights to address supply chain and risk domains. Transvoyant says this enables its live and predictive insights to be factored into optimal planning, re-planning and execution.