Marine data analytics company project44 announced that it has acquired the San Fransisco-based ClearMetal, which specialises in artificial intelligence and predictive intelligence, offering a visibility and allowing shippers to optimise supply chains with live information.
According to a company statement the combined companies will offer value to customers through the deepening of its AI based business and market analytics capabilities that translate into cost savings in the form of reduced buffer stock (15% reduction) and inventory optimisation (10-20% reduction).
In addition, the platform will improve demand forecasting and distribution capabilities, providing order and inventory level visibility across shipments, resulting in expedited fee reductions (25-30%).
The system will also give shippers visibility into suppliers’ operations, crucially into Asia, “where manufacturers and freight forwarders play a critical role in the global supply chain,” said the company.
Earlier this year project44 had expanded with the acquisition of Ocean Insights and, with the latest acquisition the company believes it, “Has the broadest and deepest visibility network in the world, across all transportation modes,” said Jett McCandless, Founder and CEO at project44. He added, “With the addition of ClearMetal’s advanced AI technology and data science team, we’re building on a strong foundation and extending capabilities to deliver more accurate, predictable ETAs and visibility into customer orders and inventory in transit.”
