Everstream Analytics announced this week a partnership with project44 to enhance the company’s predictive supply chain risk analytics tools. Everstream said the combination of its data analytics with project44’s real-time location visibility will enable its customers to strengthen their supply chains’ resilience and find ways to decrease transportation costs.
In an interview with FreightWaves, David Shillingford, the chief executive officer of Everstream Analytics, explained the importance of the project44 integration for the company’s customer experience.
“Risk is our strength, that’s what we do,” he said. “Project44 is the company that shows you the assets. Our goal is to help supply chain managers, whatever their function, whether it’s a planning decision or whether it’s an execution decision, to take risk into account when they are making that decision. … We have been working with project44 for over a year to pull [their] data into our platform so that we can show not only where the asset is, but also the risk, and the risk that is in between that asset and the point of arrival.”
Project44 has been a champion of collecting asset data and was recently announced as a leader in the 2021 Gartner Magic Quadrant for Real-Time Transportation Visibility Platforms, a tool for technology buyers looking to evaluate potential vendors.
Partnering with project44 enables Everstream Analytics’ predictive risk tools to become more foretelling with a larger pool of data.
“We have been building predictive models to show somebody the risk to the shipment during the planning phase,” said Shillingford. “Part of [building those models] is using enormous amounts of historical data about past shipments. … How accurate those models are depends on how much data we have for that particular lane or region.”
Everstream is finding that predictive risk analysis is becoming increasingly important to its customers as capacity continues to stay tight. Customers are looking to optimize trailer types of different transportation modes in order to achieve on-time delivery.
“If we think of risk from a temperature standpoint, we are helping companies score each shipment individually,” said Shillingford. “Two weeks before the shipment, our model is simulating that route. … Based on what the load is, the model will say you need a reefer, you don’t need a reefer [due to outside temperatures]. The model [might] tell the shipper you don’t need the reefer…[and] now, not only do you save 40 cents a mile but you are reducing your carbon footprint.”
Shillingford explained that Everstream Analytics will continue to invest in these partnerships to improve the pre-shipment risk analysis that customers need to make the correct transportation decisions for their end consumers.
“We are very driven by our clients’ needs,” he said. “Whether it’s [working] with a shipper or another partner, we are going to listen to them and make sure we are delivering what it is that they need.”