30% of Global Sailing Schedules Are Incomplete

Obtaining Timely and Accurate Schedules

To manage your supply chain effectively, having accurate sailing schedules is one of the critical success factors. However, obtaining timely and accurate schedule data is not easy. In ocean transportation, sailing schedules change frequently. In addition, ocean carriers often do not provide the actual vessel arrival or departure times in their published sailing and vessel schedules.

In fact, from August to October 2017, 30% of global schedules among 30 major ocean carriers were missing actual arrival or departure times. Taking a closer look at each trade, the intra-North America trade had the highest percentage of schedules missing actual arrival and departure data, with 44% of the schedules missing data. The Europe-Oceania trade had the lowest percentage of schedules missing actual arrival and departure data, with 19% of the schedules missing data.

Percentage of schedules missing actual times of departures or arrivals from carriers by trade from August to October 2017 (Source: CargoSmart)

Imagine, if one third of your shipment schedules are missing actual arrival or departure times, how can you effectively plan downstream activities?

Improving Your Supply Chain Planning with IoT

The Internet of Things (IoT) technology is one of the emerging, disruptive technologies in the shipping and logistics industry. IoT technology can actually help a lot on managing accurate schedules. Taking the missing actual schedules as an example, by leveraging IoT technology, you can know vessels’ current positions and the actual times that they depart from or arrive at each port through the Automatic Identification System (AIS) data. Furthermore, it is also possible for you to obtain projected arrival times before vessels arrive if you can analyze the vessel speeds, locations, and historical route patterns.

Going a step further, if you can obtain accurate vessel arrival and departure times, you can plan your landside transportation, such as rail and truck, more effectively and minimize their waiting times. Many companies often need to pay for extra operation charges, such as detention and demurrage fees, that may affect their supply chain’s cost efficiency. Increased visibility with IoT data can help you accurately plan for cargo handling to save operation costs and avoid other charges due to delayed deliveries, such as penalties from customers.

In addition, you can also optimize your warehouse stock levels and manufacturing production schedules with the real-time data from both transportation and retail levels. This will help you minimize extra charges on storage and respond timely to market demand.

Using Tools that Leverage IoT Technology

Leveraging IoT technology, CargoSmart monitors the live movements of 7,000 container vessels, analyzes over one million live vessel status updates each day, and monitors incidents that may impact vessel schedules each day. CargoSmart offers solutions such as its Schedule Delay Alert to supplement carriers’ actual times of arrival and departure and to notify customers by email and APIs of schedule delays that may impact their shipments. Shippers are able to leverage the IoT to save time looking up schedules to monitor critical shipments, improve shipment visibility to vessel status and delay information, and respond faster to potential supply chain disruptions.

The adoption of IoT in the shipping and logistics industry has increased. Take the opportunity to leverage IoT technology to improve your supply chain planning. We invite you to learn more about CargoSmart’s tools that leverage IoT technology to help you boost your supply chain visibility.

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