TransVoyant announced the availability of Precise Predictive Logistics (P2L), its supply chain-focused live and predictive big data analytics solution. By tracking the real-time behavior and location of aircraft, ocean vessels, rail cars, trucks, ports, airports, routes and other supply chain nodes via the Internet of Things (IoT), TransVoyant's P2L solution provides supply chain professionals with 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 collects and analyzes the world's largest repository of real-time big data; it processes over one trillion events a day. This includes live tracking of all methods of shipping, along with the behavior within and around all nodes of the supply chain, to include the myriad external events that cause delays and impact shipment performance.
TransVoyant P2L is piloting estimated times of arrival on shipments for 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. 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.
"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, optimize 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 proven real time and predictive insights to address supply chain and risk domains. This enables its live and predictive insights to be seamlessly factored into optimal planning, re-planning and execution.
For more information, visit www.transvoyant.com.
TransVoyant puts the power of global live and historical data and advanced analytics into the hands of decision makers for the first time. TransVoyant's mission is to help people make better decisions by providing them with timely and actionable insights on globally occurring real-time and predicted events—ranging from forecasted port disruptions and precise shipment arrival times to trending consumer demand to real-time threats to inventory and facilities. TransVoyant solutions provide better future outcomes—for individuals, for businesses, and for nations.