Leading in-transit visibility provider Tive and TransVoyant, the leader in global supply chain data fusion, business analytics and actionable intelligence, today announced a partnership to deliver live supply chain situational awareness to the Open Visibility Network (OVN) to improve actionable, complete, and intelligent visibility and business insights.
Most visibility journeys start by focusing on a single segment of supply chains, lacking visibility into events occurring upstream and downstream. This is problematic for shippers that rely on inbound materials. When traditional visibility is connected with predicted supply chain behavior it is easier to see the impact that events have on the overall supply chain. Visibility needs to incorporate information from inside your enterprise (ERP, TMS, OMS, WMS) and the external world that surrounds your supply chains (social unrest, border crossings, port congestion, etc.). Without this level of connectedness, you will have blind spots in the supply chain that will inevitably cost you time, service, and money.
“The biggest barriers to complete visibility for shippers are primarily around insight and data fragmentation across a multitude of enterprise systems,” said Krenar Komoni, CEO and founder of Tive. “Once you add access to unique predictive insights that analyze and anticipate threats and disruptions resulting from a multitude of internal and external factors, sourced intelligently, and you’re now getting closer to 100% visibility.”
The Open Visibility Network partnership and integration will combine TransVoyant’s capabilities with Tive's real-time in-transit load sensing data to deliver immediate value to global supply chains. Tive's Solo 5G trackers stream location, temperature, light, shock and other critical real-time load sensing data to the Tive Data Cloud. TransVoyant applies advanced machine learning and artificial intelligence to real-time event data streams to render a live global picture of customers’ static and moving assets, as well as predictive insights that enable them to anticipate and avoid threats and disruptions resulting from weather, port congestion, natural disasters, supplier failure, road construction, competitor behavior, labor strikes, etc., to improve their end-customer experience.
"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. "Poor predictability is forcing supply chain leaders to carry excess buffer stock, make bad inventory allocation decisions and prevents them from confidently promising inventory in-transit while quoting accurate delivery ETAs to customers. Furthermore, no ability to predict the behavior that causes shipment delays and supply chain disruptions—weather, port congestion, traffic behavior, natural disasters, road construction, labor unrest, etc.—are undermining supply chain performance. By continuously collecting, cleaning, and normalizing live global supply chain data and applying predictive analytics, our solution attacks supply chain latency, limited line of sight and predictability while enabling firm customer order commitments, optimized global inventory and minimized logistics costs."