WeftIdentify opportunities to improve supply chain operations right now and for the future.

No one has perfect supply chain visibility.

The majority of shippers and logistics service providers feel they don’t have all the information they need to make the best decisions. The problem is apparent every time you open the newspaper or, more commonly, visit a news website: “Poor Visibility Puts a Majority of Organizations at Risk for Supply Chain Disruption,” “Every supply chain operative knows that visibility is the key to success”, “It is usually only when there is a major problem, or a material event, that companies realize they do not have the level of visibility that they need.”
 
Make smarter logistics decisions with proven insights and visibility
 
Lack of supply chain visibility makes identifying opportunities for improvement all but impossible. But many companies have improved their bottom line after adopting asset intelligence solutions:
  • Seeing that inclement weather would disrupt their shipment in the Caribbean, a major CPG brand re-routed product to avoid a late shipment and losses.
  • A freight forwarder used data to evaluate their partners and network, eliminating incorrect information on most shipments, saving money and improving customer satisfaction. 
  • Asset visibility and intelligence enabled a leading marine carrier to see when and where containers became available, eliminate excess fleet and maximize asset utilization. 
  • A port operator applied analytics to identify bottlenecks, increase throughput and reduce congestion.
 
The critical ingredients for business growth are visibility, analytics and flexibility, according to CSC. “Visibility and analytics produce vital information to drive efficiency and target growth, flexibility then gives us the ability to act upon that information,” the Ninth Annual Global Survey of Supply Chain Progress states. Across the board, businesses lacking these areas realized slower growth than those who had at least two. In other words, at the very least, companies need a transparent view of operations to enable them to react quickly. But they need a solution with insights in order to be proactive.
 
Lack of Visibility - Can’t see what has happened, what is happening and what will happen
• Near Term Challenges: Poor resource allocation; Shipping empty containers; Incur demurrage and other fees; Learn of delays (bottlenecks, congestion, events) too late
• Long Term Challenges: Poor capacity planning; Demurrage fees (aggregate); Late fees in port
 
Lack of Analytics - Don’t have past performance to optimize for the future, both long-term and short-term.
• Near Term Challenges: Procurement, contract and rate negotiation; Can’t compare competitor, partner or network performance; Subject to higher risk; Can’t provide data and updates to customers
• Long Term: No resilience planning; Sub-optimal asset utilization
 
Lack of Flexibility - Can’t be nimble; unable to react to changes, updates or research findings.
• Near Term: Re-routing shipments – reactive instead of proactive; Last-minute air freight costs; Lose millions from late shipments, shrinkage and claims
• Long Term: React to fluctuations in supply and demand; Poor customer service
 
Inefficiencies cause trillions of dollars in unrealized revenue. Auto manufacturers lose upwards of $8,000 per minute on late shipments. Petroleum processers can spend $80 million per year on late fees due to port congestion. Last minute air shipments cost freight forwarders $100,000 per year.
 
Weft™ real-time visibility gives a global view of the past, present and future impacts to the supply chain. Our VITAS™ platform collects a wide-array of data sources, including Weft proprietary data (e.g. fixed vehicle activity at ports, terminals and air cargo facilities; multi-modal transfer rates at rail yards; container, pallet and asset movement and sensor data); 3rd-party proprietary data (e.g. satellite and terrestrial tracking of vessels and planes; transportation support systems; customer assets) and public data (e.g. weather, fuel prices, news, sentiment). Users log in to the web-based application, or import data to their existing TMS, for a live view of vessels, ports or sensor-equipped assets and what is going on around them.
 
Our analytics provide actionable information used every day to identify opportunities to optimize logistics. Customers can identify gaps and blockages in their supply chain, detect anomalous behavior, identify trends, analyze fleet and partner performance, pinpoint areas and conditions with higher risk and, with sensors, predict M&R. Weft indices, such as the Weft Port Ranking and Weft Maritime Ranking, are an objective resource for companies to compare performance of their network and competition.
 
Immediate predictions and long-term trends lead to improvements in business flexibility and empower leaders to make proactive supply chain decisions. With both visibility and analytics, companies can act immediately to reduce costs and make operations more efficient. Alerts allow logistics leaders to react immediately, while reports can inform improvements over the longer term. Automated alerts include changes in state, delays, abnormal behavior and, with sensors, unsafe changes in condition (temperature, humidity, light, etc), brute force and impact, need for maintenance or repair and more.
 
 
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Break out of the Status Quo

Businesses are currently devoting incredible resources and funds to overcome these challenges and avoid the costs. Entire departments of people are devoted to the task of using slow, archaic methods of gathering and analyzing information. Data is constantly incomplete, outdated, incorrect and limited in scope. In-depth reports can be used for predictions a year out, but what about needs for next month, next week or today? If they can’t react in a timely manner, businesses lose money.
 
The capabilities to collect, clean, analyze and respond to data exists today, and Weft is putting them in action right now. The commoditization of telecommunications, advances in technology and data science and decreasing costs of hardware and tools have helped make it possible to build the VITAS platform.
 
Visit our website to learn more about how Weft can bring actionable insights to your supply chain.

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