Mid-March, the Biden administration announced an information-sharing program that would encourage ocean carriers, ports, trucks and major retailers to share data with each other, in order to combat supply chain disruptions and delays. The program — Freight Logistics Optimization Works — will apply to all parts of the supply chain, which struggle to share information as shipments move.
Why is this data sharing so crucial? The article cites that shippers across modalities are often left “surprised” by “surges and lulls in cargo,” while retailers pay the price for serious delays. The less data is shared, the harder it is for everyone to plan and anticipate — this leads to a considerable amount of time and money lost.
So far, 18 companies have agreed to be involved in the project, and the administration hopes to encourage more. As Port of Los Angeles Executive Director Gene Seroka states, “We need to be able to start seeing around corners.”
Seeing what’s up ahead is RailState’s bread and butter, and is especially important for the railroads, which lack any network visibility. Providing data and predictive analytics to railroads mends breaks within that specific piece of the chain. If one part of the chain moves fluidly, then the potential for the entire chain to move fluidly is a lot higher.
Read the full article here.