The new capability leverages AI to provide customers and partners with additional ETA insights into supply chain delays, empowering stakeholders to mitigate the impact and take action
LONDON, Feb. 16, 2023 /PRNewswire/ — Windward (LSE: WNWD), the leading Maritime AI™ company, announced today the launch of additional ETA Insights and will now provide the reasons for delay. This new AI capability is included in Windward’s Ocean Freight Visibility (OFV) solution and automatically provides customers with actionable visibility to mitigate the impact of delays and improve internal and external business operations.
Supply chain woes over the past few years have propelled the digitalization of the supply chain industry, and ocean freight visibility has become widely accepted as a critical capability. Despite the recent improvement in ocean freight reliability, over 40 percent of shipments are delayed with 25 percent of these delays being due to complications during transshipment, and 19 percent due to rollovers caused by carriers who regularly overbook their capacity, relying on delayed deliveries to their Point of Loading (POL).
Windward’s models, developed by maritime and AI specialists, are specifically trained to understand the multitude of factors affecting the movement of goods at sea. Using Deep Learning (DL) models, Reasons for Delay will automatically provide the cause of any shipment delayed by three or more days. This allows supply chain partners – including logistic service providers, freight forwarders, cargo owners, shippers, container ports, terminals, liners, and more – to take the next step and utilize the actionable insights, to make more well-informed, fact-based decisions, and provide accurate updates for both internal and external stakeholders.
“Visibility is critical to the supply chain. Knowing your shipment is delayed is a necessity, but knowing why your shipment was delayed further empowers customers to take action, save costs, and minimize the business impact of delays,” said Ami Daniel, CEO and Co-Founder of Windward. “Windward’s new AI-based iteration of visibility is actionable, and Reasons for Delay is our next step to provide stakeholders with the tools to increase efficiency and decrease costs when it comes to their shipping operations.”
Windward’s Reasons for Delay is an added capability on the company’s Ocean Freight Visibility (OFV) solution which offers Maritime AI Predicted ETA, a tool utilizing robust datasets and behavioral models to provide accurate ETA predictions and real-time visibility into container and vessel journeys allowing users to better predict, plan, and proactively mitigate supply chain risks.
Windward’s Reasons for Delay capability identifies three types of reasons for delays: rollover, transshipment delay, and late departure, and will be available to existing and prospective customers via Windward’s web application, API, and daily email updates.
Windward (LSE:WNWD), a publicly traded company on the London Stock Exchange, is the leading Maritime AI™ company, enabling organizations to achieve business and operational readiness. Windward’s AI-powered solution allows stakeholders including banks, commodity traders, insurers, and major energy and shipping companies to make real time, predictive intelligence-driven decisions, providing a 360° view of the maritime ecosystem and its broader impact on safety, security, finance, and business. For more information visit: https://windward.ai/.