Will the solution to the difficulties of the global supply chain, at least in part of maritime shipping, come from Israel? Company Windward Which provides artificial intelligence solutions for the analysis of marine risks, is launching a new solution that it says will help address delays in the supply chain.
Windward reported that the solution it developed – Ocean Freight Visibility, allows transparency and visibility to all marine containers. In this way it provides maritime forwarders with the ability to improve their efficiency and the service they offer to their customers, through smart and automated data collection and analysis and obtaining accurate real-time location forecasts, disruption and complication forecasts, delay reasons and location-based insights for all their customers’ containers.
The solution allows users to enter To the platform Information about their containers and thus act proactively to reduce risks of disruptions in shipping. The system immediately alerts you to delays that occur, so the user can act in front of their customer. The company has already provided the solution to shipping companies that use it, including DSV and Metro Shipping.
Against the background of the crisis: “Risk management in the supply chain – critical”
Windward notes that the supply chain has been hit hard by the corona plague, with the volume of maritime transport rising by 1,500% in the last two years. According to the company’s data, the shipping industry leads about 90% of world trade, but the reliability of information about transport times is very low, with a time arrival rate of only 30% -40%.
“The current crisis in the supply chain demonstrates how small the visibility regarding the location of a maritime cargo is,” said Ami Daniel, CEO and co-founder. “Cargo shippers are the key to making the supply chain more efficient. With the help of experience in marine artificial intelligence, we bring them a solution to improve visibility in real time, and provide practical insights so that they can provide a more competitive service. “
Daniel added that the supply chain faces many challenges: rising consumer demand, outdated infrastructure, shortage of workers and a constant outbreak of local disruptions – all of which together create “complete chaos”. “We do not know when the supply chain crisis will end, so creating solutions that help manage supply chain risk is critical.”
Recruited in London about 35 £ 1 million Two and a half months ago
CEO Daniel founded the company in 2010 along with Matan Peled who manages operations in the United States. The company is chaired by Lord Edmund John Brown, former CEO of energy company BP. Windward went public on the AIM Stock Exchange in London about two and a half months ago. The company then raised £ 26.3 million gross from new investors and £ 8.2 million from existing investors, at a price of £ 155 per share and a company value of around £ 127 million.
At the peak, the stock was trading at 220 pence, but since then it has weakened and is currently trading at a value similar to the share value in the IPO.