TransVoyant:Predicting Supply Chain Behaviour Using Big Data
“Companies have a limited understanding of their end-to-end supply chain behaviour”’, says Jim Butera, Vice President of Customer Growth at TransVoyant. TransVoyant’s world-class Continuous Decision Intelligence (CDI) platform tracks over one trillion events per day to provide supply chain professionals with live transparency, real-time situational awareness and predictive insight. The company’s customers are forward-leaning companies with complex global supply chains that need to ensure their high-value/high-consequence goods are delivered on time and in proper condition. Top tier pharmaceutical manufacturers, automobile makers, consumer goods, and industrial supply companies are lining up to work with them—and given recent global events, many more will follow.
Since 2012, the company has analysed massive big data streams with its proprietary ML/AI models, to help predict arrival times, anticipate disruptions due to global events, measure lead times, optimise capacity, labour, inventory and more. “We bring real-time transparency to our customers’ end-to-end supply chains”, Jim explains. This enables customers to proactively find opportunities to reduce cost, improve customer service and ‘get left’ of issues that can negatively impact performance. He adds... getting ahead of issues with enough time to resist or recover from disruptions”.
To provide the type of out-of-the-box intelligence in which TransVoyant specialises you need:
- Enterprise Data. Orders from ERP, inventory from warehouse management, and shipments from transportation systems.
- Trading Partner Data. Intelligence that is collected from outside of the four walls of the enterprise that remains relevant to the company’s industry.
- Risk Events. Natural disasters, epidemics, and geopolitical upheaval: anything that surrounds and could impact a company’s supply chain.
TransVoyant brings two out of the three sources to the table: trading partners and risk event data. Both are fused with its customers’ enterprise data using a private blockchain, applying ML/AI, and automation, to provide customers with actionable supply chain intelligence.
If you imagine the sea of valuable information being emitted by supply chains on a daily basis, TransVoyant fuses this flow of data for its customers enabling them to move up the insight curve using TransVoyant machine learning and AI to gain predictive insights. Actionable intelligence equips companies with the ability to anticipate and respond in the present.
Strategic, Agile Partners
Who does TransVoyant help? Supply chain professionals in any industry who want to be fast, agile, nimble, and competitive in their respective fields. “We’ve been able to avoid discards of nearly one million vaccine doses, an estimated invoice value of approximately $30 million”, says David Komjati, Director of Logistics Transformation for Merck Sharp and Dohme.
Regardless of the company they service, TransVoyant operates in agile, five-week sprints, if not faster. After COVID destabilised supply chains in the spring of 2020, TransVoyant immediately tapped into data from Johns Hopkins to build a COVID Insight solution. By March 12th, 2020, they’d gone from a concept on a whiteboard to a full-blown, enterprise-grade offering. “Because we have these data pipes in place, and continuously flowing data, it’s just a matter of understanding the use case”, Jim explains. You get the data, align on user requirements and kick-off a development cycle”.