project44 has already saved customers $150M+
in detention & demurrage costs and, with this new product, will
help customers realize value even faster
CHICAGO, May 22, 2024
/PRNewswire/ -- Today, project44, the leader in supply chain
visibility and the only High-Velocity Supply Chain Platform,
announced the addition of Detention & Demurrage Optimization to
its Movement platform. Detention & Demurrage (D&D)
Optimization helps shippers understand real-time risk and incurred
demurrage and detention costs to optimize their supply chain to
minimize these costs.
"project44 is committed to helping our customers optimize their
supply chain from production to doorstep. Because detention and
demurrage can cost them tens of millions of dollars annually, we
sought opportunities to help them reduce these costs," said AJ
Wilhoit, Chief Product Officer at project44. "With D&D
Optimization, our customers gain a better understanding of their
supply chain operations, enabling them to mitigate detention and
demurrage based on data from their custom contracts, bringing them
one step closer to achieving a high-velocity supply chain."
Because this new solution uses customers' custom contracts, they
get unparalleled accuracy of detention and demurrage cost
information and real-time risk insights. D&D Optimization also
includes key terminal milestones and container status data to help
customers take action on containers incurring or at risk of
incurring fees. With these insights, customers can minimize fees
for in-transit shipments and further enhance their supply
chain.
Key product features include:
- Detention and demurrage fee calculations at the shipment level
based on custom contracts between the customer and their terminals
and ocean carriers
- Detention and demurrage dashboard experience with real-time and
historical data for identifying risk areas and trends over
time
- In-terminal data points by container, including last free
demurrage day, carrier holds, location in the terminal, and
more
"At Tailored Brands, our partnership with project44 has been
transformative throughout the past few years. The end-to-end
visibility provided by project44's platform has been instrumental
in our operations, allowing us to make informed decisions and
streamline our supply chain," said Jamie
Bragg, EVP & Chief Supply Chain Officer at Tailored
Brands. "In fact, project44 has enabled us to gain visibility into
inbound receipts 180 days out, which has been a game-changer. We
look forward to continuing our collaboration with project44 to
drive further efficiencies and supply chain cost reductions."
Only project44's comprehensive data set can provide the
unparalleled accuracy needed by customers to proactively mitigate
detention and demurrage expenses and alleviate a significant
financial strain within their supply chain operations.
Learn more about Detention & Demurrage Optimization
here.
About project44
project44 is on a mission to make supply chains work. Movement by
project44, the only High-Velocity Supply Chain Platform, enables
shippers, LSPs and carriers across the globe to reduce costs,
optimize operations, deliver an exceptional customer experience and
drive greater resiliency and sustainability. Having built the
industry's largest and most connected ecosystem, project44 provides
visibility into over 1 billion shipments annually for over 1,300 of
the world's leading brands within manufacturing, automotive,
retail, life sciences, food & beverage, CPG, and oil, chemical
& gas.
project44's commitment to excellence was recognized across
organizations and awards including being named the Leader in the
2024 Gartner Magic Quadrant and as the "Customer's Choice" in
Gartner's 2023 Voice of the Customer report, a twelve-time leader
on G2's Supply Chain Visibility Grid, Google Cloud Partner of the
Year, and SAP Pinnacle Award winner. project44 is headquartered in
Chicago with a diverse team
spanning 19 global offices including Amsterdam, Bangalore, Kraków, São Paulo, Shanghai and Tokyo. Learn more at
project44.com.
Media Contact:
press@project44.com
View original content to download
multimedia:https://www.prnewswire.com/news-releases/project44-launches-detention--demurrage-optimization-to-better-manage-risk-and-reduce-costs-302151825.html
SOURCE project44