project44 announced the addition of Detention & Demurrage Optimization to its Movement platform. Detention & Demurrage (D&D) Optimization helps shippers understand real-time risk and incurred demurrage and detention costs to optimize their supply chain to minimize these costs.
“project44 is committed to helping our customers optimize their supply chain from production to doorstop. Because detention and demurrage can cost them tens of millions of dollars annually, we sought opportunities to help them reduce these costs,” said AJ Wilhoit, Chief Product Officer at project44. “With D&D Optimization, our customers gain a better understanding of their supply chain operations, enabling them to mitigate detention and demurrage based on data from their custom contracts, bringing them one step closer to achieving a high-velocity supply chain.”
Because this new solution uses customers’ custom contracts, they get unparalleled accuracy of detention and demurrage cost information and real-time risk insights. D&D Optimization also includes key terminal milestones and container status data to help customers take action on containers incurring or at risk of incurring fees. With these insights, customers can minimize fees for in-transit shipments and further enhance their supply chain.
Key product features include:
- Detention and demurrage fee calculations at the shipment level based on custom contracts between the customer and their terminals and ocean carriers
- Detention and demurrage dashboard experience with real-time and historical data for identifying risk areas and trends over time
- In-terminal data points by container, including last free demurrage day, carrier holds, location in the terminal, and more
“At Tailored Brands, our partnership with project44 has been transformative through the past few years. The end-to-end visibility provided by project44’s platform has been instrumental in our operations, allowing us to make informed decisions and streamline our supply chain,” said Jamie Bragg, EVP & Chief Supply Chain Office at Tailored Brands. “In fact, project44 has enabled us to gain visibility into inbound receipts 180 days out, which has been a game-changer. We look forward to continuing our collaboration with project44 to drive further efficiencies and supply chain cost reductions.”
Only project44’s comprehensive data set can provide the unparalleled accuracy needed by customers to proactively mitigate detention and demurrage expenses and alleviate a significant financial strain within their supply chain operations.