Digital breakthrough in empty asset relocation: NileDutch implements Transmetrics predictive optimisation software
In order to streamline our empty container flows and increase efficiency, NileDutch has started working with Transmetrics of Bulgaria, a tech startup that provides predictive logistics solutions. Transmetrics already has extensive experience in demand forecasting and predictive optimisation for the cargo transport industry, and as a result of this collaboration with NileDutch, it will also launch its new product, AssetMetrics.
“With machine learning and intelligent algorithms we want to revolutionise how empty container handling and relocation is organised. Our envisioned goal for the project with NileDutch is to reduce the cost of empty container logistics by 10-15 percent,” says Anna Shaposhnikova, CCO and co-founder of Transmetrics. NileDutch already started the migration of data into the predictive IT tool at the beginning of January 2018. The rollout of AssetMetrics will begin in March 2018.
AssetMetrics uses historical data and improves those data sets so that the intelligent algorithm can produce reliable predictions. In earlier test projects, Transmetrics was able to increase the data quality by around 75 percent during this enrichment process. Afterwards, the system creates a demand forecast model, which is then optimised by the algorithm.
The technology has already helped achieve up to 25% - 50% higher accuracy in forecasting demand then forecast from in-house customer` teams in other projects. This approach will allow the rebalancing of assets across the whole NileDutch network at minimal cost. It takes into account maintenance costs, the future demand at each location, the cost to reposition and the assets that will be returned. AssetMetrics will be connected to NileDutch’s TMS-system (Transport Management System) to ensure a constant exchange of information.
“We had been looking for a partner who could help us streamline our empty container flows for a long time. There are different IT solutions on the market, but we chose Transmetrics over other providers because they proved their technical expertise and also demonstrated a deep knowledge of the logistics industry and container shipping in particular, which is very difficult to find,” says Carlo Zaalberg, Global Director Logistics at NileDutch. Smart empty container repositioning is one of the areas where NileDutch feels there is a large potential for improvement by applying predictive analytics and artificial intelligence.
Transmetrics unlocks the power of Big Data and predictive analytics for the cargo transport industry. The company’s products consist of multiple steps – data cleansing, advanced forecasting, predictive optimization and execution controlling modules. Transmetrics’ products help companies make better, data-driven decisions and continuously improve their operational performance. Transmetrics works with the world’s leading logistics companies, including three global Fortune 500 companies.
NileDutch Africa Line BV (NileDutch) is a major shipping company, focusing on links between West Africa and the rest of the world. The company has over 30 years’ experience of working in Africa and has a large network of offices and agents. This presence in the region means NileDutch is familiar with the needs of the African market and can respond quickly to local changes and offer their customers a reliable service.