LOGISTICS
Why is sea freight data standardisation important ? RP : All modes of transport are gravitating toward the standardisation of data . Both shippers and logistics providers are increasingly being called upon to be a ‘ divining rod ’ – guiding companies ’ supply chains to desired places .
JV : While the marine freight industry has always been dynamic and volatile , the past few years have been particularly fraught . It is now harder , and commercially unwise , to make decisions based on ‘ gut ’ experience . Data-driven decision making is a critical part of helping shipping companies and their counterparties make better informed decisions , optimise operations and drive efficiencies .
Sub-segments of standards already exist within shipping segments – Q88 in the tanker space comes to mind . This is the platform that shipping professionals use to conduct business , and the benefits have been substantial .
Yet , in many spaces , there remains no standard way to exchange or interpret commercial information , and therefore no way to speak in a common language across the industry .
Standardising data will enable important information – such as voyage updates , realtime visibility on shipments or contract details – to be shared directly with charterers , brokers , agents , and other trusted counterparties .
What ’ s the biggest challenge to rolling out such a system ? RP : Harmonising data from both internal and external sources , and even within one ’ s
“ HARMONISING DATA FROM INTERNAL AND EXTERNAL SOURCES – EVEN WITHIN ONE ’ S OWN ORGANISATION – IS NO WALK IN THE PARK ”
REX PASCHALL , DIRECTOR OF SEA FREIGHT , APEX LOGISTICS INTERNATIONAL supplychaindigital . com 63