An exciting research project has been given the green light to address Australian and global supply chain risks, using industry leading expertise and data from Fluent Cargo.
The Australian Research Council (ARC) has approved of a new supply chain visibility project, which will be led by the University of New South Wales (UNSW) in conjunction with Monash University and Edith Cowan University, along with industry leading data providers, Fluent Cargo.
With an approved combined funding over $500,000 which includes funding, resources and tools over the next three years, the project aims to develop solutions that improve prediction and accuracy of existing and upcoming shipments by having real-time visibility of supply chain risks, events, trends and reliabilities, to better understand inter-dependencies of supply chain disruptions.
The ARC has been an integral part of the Australian research landscape since its 2001 establishment, with funding for blue-sky research and practical research linking universities and industries to create a strong and vibrant research sector.
Exploring artificial intelligence strategies with supply chain risk management, the researchers will draw on industry expertise from Fluent Cargo to apply the research to real world freight challenges.
Fluent Cargo provides central routing, scheduling, tracking, emissions and market index pricing across multi-modal route options, single or multiple combinations of shipment journeys along with transit times, carrier information, and vessel or plane type from all major carriers.
The team at Fluent Cargo, led by CEO Archival Garcia, will help the researchers develop innovation from the perspective of the industry that will ultimately provide proactive insights related to known and unknown freight risks.
“We are really excited to contribute to this new project to understand and manage supply chain risks. The data from our platform is a part of this mission to proactively identify disruptions impacting a Supply Chain Network of multiple nodes and measure this impact,” says Archival Garcia, Fluent Cargo CEO.
“Disruptions to global transportation has driven the need for more agile and intelligent tools, which is why our platform exists. This project is in line with our mission to simplify cargo transportation for shippers, carriers and logistics service providers worldwide. No doubt this will expand our functionality and data library which will benefit our customers.”
“This project, will consider an interdisciplinary approach of combining artificial intelligence (AI) techniques with SCRM to develop novel techniques to address this complex problem of achieving explainability while managing supply chain risks in freight transportation,” says Dr Omar K Hussain, Deputy Head of School (Research) and Associate Professor at the School of Business, UNSW Canberra.
“Fluent Cargo’s data and tracking of global freight movements helps us in our mission to enable supply chain risk managers to correctly capture the different types of uncertainties impacting the focal company and develop strategies to manage them, opening a new but much-needed line of research in SCRM.”
“This project leverages AI and interdisciplinary methods to enhance supply chain risk management. The data from Fluent Cargo’s platform is crucial for developing strategies to manage risks and uncertainties, ultimately benefiting global freight transportation by providing more agile, resilience, robustness and intelligent tools for supply chain risk managers,” says Ferry Jie, Associate Professor in Supply Chain and Logistics Management at Edith Cowan University.
“Considering the enormous impact of supply chain disruptions not only in terms of costs but also time and, most importantly, clients’ satisfaction, managing supply chain risk disruption is critical for ensuring high logistics performance,” says Professor Daniel Prajogo, Department of Management at Monash University.
“Collaborating with Fluent Cargo to develop a proactive risk-management model opens an opportunity to make a significant contribution in advancing our knowledge in supply chain management which potentially can be a game changer for logistics businesses.”
