AI-powered platform to help prevent costly detention and demurrage overhead
NEWARK, N.J., June 20, 2024 /PRNewswire-PRWeb/ -- GoComet, a leading supply chain visibility platform, today announced the addition of D&D Intel to its AI-powered supply chain visibility platform. D&D Intel will help to prevent detention and demurrage overhead, one of the biggest cost leakages in supply chain freight transportation. Designed to support logistics teams in better managing their freight with more visibility, predictive alerts and exception workflows, D&D Intel allows for more proactive exception handling.
GoComet surveyed industry experts from more than 200 global brands and found that seven out of 10 supply chain teams grappled with revenue leakages via accessorial charges like D&D.
GoComet's visibility data also revealed that 64% of shipments experience delays of two or more days, amounting to approximately $900K of potential D&D costs to shippers.
According to an audit of nine carriers, the Federal Maritime Commission found that they "collected roughly $13.8 billion in detention and demurrage charges between April 2020 and September 2023."
"Supply chain stakeholders universally face the challenges of delays, impacting both customer experience and overhead costs. Detention and demurrage charges significantly contribute to carrier revenues while draining resources for beneficial cargo owners," said Gautam Prem Jain, GoComet CEO and Co-Founder.
D&D Intel key features and benefits include:
- Accurate D&D cost calculations: Real-time detention and demurrage fee calculations at the shipment level that use customer contracts with terminals and ocean carriers
- Critical alerts and insights: Automated escalations with data-based insights for critical milestones like Last Free Day (LFD), container statuses, timely drayage transport scheduling and customized alerts
- Comprehensive dashboard: Detailed dashboards with real-time and historical data for identifying risk areas and trends to enable better decision-making
- Enhanced shipment management: Proactive management of shipment arrivals and delays that improves on-time, in-full (OTIF) delivery rates and overall efficiency
"By utilizing D&D Intel to optimize international shipping expenses for every shipment, businesses can potentially save millions in overhead costs," added Jain.
GoComet's specialized suite for freight management aims to help companies streamline operations for efficiency and profitability by providing them with accurate and actionable data.
For additional information, visit www.gocomet.com. For a demo or to learn more about D&D Intel, visit https://www.gocomet.com/contact-us?D&DIntel.
About GoComet: The world's most intuitive, easy-to-use supply chain visibility platform, GoComet is powered by AI and automates end-to-end logistics for manufacturing companies. It enables businesses to leverage cutting-edge technology to innovate logistics and reduce costs. Utilized by enterprises across industries, GoComet combines the power of data science with machine intelligence to maximize savings and make logistics management efficient and fast by reducing manual workloads, eliminating miscommunication and leveraging data. Users see efficiency and transparency in the freight procurement process and gain unique insights through its auto-generated reports for fast, data-driven decision-making. GoComet reports more than 500+ enterprises including Bazooka Candy, Lycra, Amcor and General Mills.
Media Contact
Lauren Schiffman, GoComet, 1 4156848080, [email protected], www.gocomet.com
SOURCE GoComet
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