RCS - Windward Ltd. - Launch of Reasons For Delay AI Insights

WindwardAnnouncement

16/02/2023 07:00

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RNS Number : 0576Q  Windward Ltd.  16 February 2023

16 February 2023

 

Windward Ltd.

("Windward", "the Company")

 

Launch of Reasons For Delay AI Insights For Supply Chain

New capability leverages AI to provide customers and partners with additional
ETA insights into supply chain delays, empowering stakeholders to mitigate the
impact and take action.

Windward (https://windward.ai/) (LON: WNWD), the leading Maritime AI company,
announces the launch of additional ETA ("estimated time of arrival") Insights
and will now provide the reasons for delay of shipments. This new AI
capability is included in Windward's Ocean Freight Visibility (OFV) solution,
initially launched in February 2022,  and automatically provides customers
with actionable visibility to mitigate the impact of delays and improve
internal and external business operations.

Supply chain woes over the past few years have propelled the digitalisation of
the supply chain industry, and maritime visibility has become widely accepted
as a critical capability. Despite the recent improvement in ocean freight
reliability, over
(https://www.sea-intelligence.com/press-room/185-schedule-reliability-continue-its-upwards-trend)
40 percent of shipments(1) are delayed, with 25 percent of these delays being
due to complications during transhipment, and 19 percent due to rollovers
caused by carriers who regularly overbook their capacity, relying on delayed
deliveries to their Point of Loading (POL).

Windward's models, developed by maritime and AI specialists, are specifically
trained to understand the multitude of factors affecting the movement of goods
at sea. Using Deep Learning (DL) models, Reasons for Delay will automatically
provide the cause of any shipment delayed by three or more days.  This allows
supply chain partners - including logistic service providers, freight
forwarders, cargo owners, shippers, container ports, terminals, liners, and
more - to take the next step and utilise the actionable insights, to make more
well-informed, fact-based decisions, and provide accurate updates for both
internal and external stakeholders.

Windward's Reasons for Delay is an added capability on the Company's OFV
solution, which offers Maritime AI Predicted ETA
(https://windward.ai/lp/maritime-ai-predicted-eta) . This tool utilises robust
datasets and behavioural models to provide accurate ETA predictions and
real-time visibility into container and vessel journeys, enabling users to
better predict, plan, and proactively mitigate supply chain risks. The Reasons
for Delay capability identifies three types of reasons for delays: rollover,
transhipment delay, and late departure, and will be available to existing and
prospective customers via Windward's web application, Ocean Freight Visibility
API (https://windward.ai/api-hub/ocean-freight-visibility-api/) , and daily
email updates.

Ami Daniel, CEO and Co-Founder of Windward said:

"Visibility is critical to the supply chain. Knowing your shipment is delayed
is a necessity, but knowing why your shipment was delayed empowers customers
to take action and minimise the business impact of delays.

"The new AI-based iteration of visibility is actionable, and Reasons for Delay
is Windward's next step to provide stakeholders with the tools to increase
efficiency and decrease cost when it comes to their shipping operations."

 

(1)
https://www.sea-intelligence.com/press-room/185-schedule-reliability-continue-its-upwards-trend
(https://www.sea-intelligence.com/press-room/185-schedule-reliability-continue-its-upwards-trend)
 

 

 

 

For more information, please contact:

 Windward Ltd.                                       Via Alma PR
 Irit Singer, CMO

 Canaccord Genuity (Nominated Adviser & Broker)      +44(0)20 7523 8000
 Simon Bridges / Andrew Potts

 Alma PR                                             +44(0)20 3405 0205
 Caroline Forde / Kieran Breheny / Pippa Crabtree

 

About Windward

Windward (LSE:WNWD), a publicly-traded company on the London Stock Exchange,
is a leading Maritime AI company, enabling organizations to achieve business
and operational readiness. Windward's AI-powered solution allows stakeholders
including banks, commodity traders, insurers, and major energy and shipping
companies to make real-time, predictive intelligence-driven decisions,
providing a 360° view of the maritime ecosystem and its broader impact on
safety, security, finance, and business. For more information visit:
https://windward.ai/.

 

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