Data analytics company TransVoyant has launched Precise Predictive Logistics, its live and predictive big data analytics solution for the supply chain industry.

According to TransVoyant, the P2L solution provides live status updates and predictions for shipments, orders and items by tracking the real-time behaviour and location of aircraft, vessels, trains, trucks, airports, seaports, routes and other supply chain nodes via the internet of things.

“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. “Latent status updates and poor predictability are forcing supply chain leaders to carry excess buffer stock, make bad inventory allocation decisions and preventing them from confidently promising inventory in-transit while quoting accurate delivery ETAs to customers. Furthermore, limited line of sight and no ability to predict the events that cause shipment delays and supply chain disruptions – weather, port congestion, traffic behaviour, natural disasters, road construction, labour unrest, etc. – are also undermining supply chain performance. By continuously collecting live data and applying live and predictive analytics, our P2L solution addresses supply chain latency, limited line of sight and predictability issues while enabling firm customer order commitments prior to taking inventory ownership.”

The P2L solution pre-configured with integration to various supply chain planning and execution systems and a library of predictive insights, which are incorporated into the planning, re-planning and execution process, according to TransVoyant.