Zencargo has announced a joint project to expand access to transport and shipping for businesses planning their strategies this year. Powered by transport data specialists Xeneta and AirNav, the Supply Chain Recovery Dashboard combines insights on yearly shipping rates, pricing trends, lead times and capacity to provide up to date information across major trade lanes and modes.
This project is the first major collaboration between these businesses, with Xeneta and AirNav providing data and insights free of charge to support more businesses in their recovery.
Bringing key information together
The logistics industry is still dealing with disruption caused by the global COVID-19 pandemic, with capacity, rates and lead times severely affected. While demand has started to return, there remains a shortage of equipment and personnel as businesses adapt to the new working conditions.
For shippers, this uncertainty creates a huge challenge for supply and demand planning as there are fewer reliable metrics on which to base transport and cost projections. The data that is available is usually provided by carriers or forwarders on a specific basis, making long term comparisons difficult. The goal of the Supply Chain Recovery Dashboard is to save supply chain planners time and cost when analysing options.
Air and ocean rates have seen wide fluctuations over the pandemic as demand and capacity change. Xeneta offers a market-leading platform for ocean and air freight rate benchmarking and market analytics. The platform is, used by some of the world’s largest global shippers to prepare, execute and analyze within the entire freight procurement lifecycle, and ultimately enable businesses to mitigate risks to their supply chains. In order to help shippers with the continuing fluctuations in prices, Xeneta has provided key data for planners to make more informed decisions regarding their procurement for Q3 and Q4.
Xeneta Chief Product Officer, Erik Devetak explained their involvement in the project: “The effects of the pandemic on global container shipping and supply chains have been unprecedented. Everyone is scrambling for data and insight to give some sort of outlook and support better planning. We’re excited to collaborate with Zencargo on this project and give the much sought-after market visibility. By using the Xeneta and Zencargo data in the Supply Chain Recovery dashboard, transportation professionals can monitor the market, instantly be aware of disruptions, and ultimately act immediately to plan their next strategic move.”
Zencargo built a custom back-end for the dashboard to provide instant access to this data, based on the analysis engine behind their award-winning digital freight forwarding platform. Bringing together live data from a range of sources, supply chain planners will be able to make faster decisions that save time and costs in the long term.
Zencargo CCO Richard Fattal says, “The trend we’ve seen time and again throughout the last few months is that it’s the businesses who have access to proper supply chain data and insight that can cope best with disruption. We wanted to expand access to information and help more shippers prepare for recovery so they can start putting the global economy back on track.
A collaborative future
As businesses across the world start to rebuild their supply chains, it will be essential for forwarders, software companies and data providers to continue to work together to support them. This dashboard is the first step on putting the needs of shippers first to help the industry move forward.