Overhaul, the global leader in in-transit supply chain risk management, has announced the launch of two groundbreaking tools, Shipment Risk Score and Risk Summary, marking a significant advancement in how monitoring teams respond to incidents in real-time.
In an era where logistics operations face the challenge of high volumes and high stakes, these tools are set to revolutionize the industry by replacing outdated manual processes and scattered workflows, building upon Overhaul’s mission of providing a unified, data-driven approach to shipment risk assessment.
Jonathan Ryan, Chief Product and Technology Officer at Overhaul, emphasized the transformative impact of these new features. “The issue in risk management isn’t the lack of alerts; it’s the overwhelming noise created by too many of them,” said Ryan. “Our solution is designed to cut through this noise, allowing teams not just to identify problems but to resolve them swiftly and effectively.”
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Key Features and Benefits:
- Shipment Risk Score: Utilizing an AI model trained with billions of data points, this feature assigns a dynamic risk score to each shipment on a scale from 0 to 100, with the potential for scores to cumulatively exceed 100 based on multiple risk factors. This scoring system updates the shipment list in real-time, prioritizing the most at-risk loads and enabling teams to focus their efforts where it is most needed.
- Risk Summary: This tool provides a concise breakdown of risk factors such as geofence breaches, temperature deviations, and contact issues in a single view, eliminating the need for excessive scrolling and tab-switching. The clarity and immediacy offered by the Risk Summary ensure that actionable insights are readily accessible.
Preliminary results from early implementations of these features indicate a 50% improvement in response times to incidents, underscoring their effectiveness in enhancing operational efficiency.
SOURCE: PRNewswire