In today’s complex, fully globalized supply chain, maritime logistics is of unparalleled importance. With virtually every global industry reliant on the smooth operations of maritime logistics providers, today’s leading businesses have developed a keen appreciation for the maritime transportation experts who keep the supply chain moving forward.
However, key events on the global stage are taking a profound toll on maritime operations. From the Red Sea conflict to the ongoing drought in the Panama Canal, today’s volatile supply chain landscape underscores the importance of performance at key logistics hubs.
In this article, we’re looking at the importance of port performance, and learning how technology can revitalize port performance in a high-stakes moment for the global maritime industry.
Understanding the Importance of Port Performance
Port performance can have a profound impact on the rest of the supply chain. Across the global economy, ports act as vital logistics hubs, and what happens at ports can have significant down-chain consequences. By looking closely at port performance, shippers can better understand how to optimize operations at these key logistics hubs.
As shippers strive to build resilience in a high-stakes logistics landscape, let’s take a closer look at what’s at stake in port performance.
Transit Times
Port performance can have an outsized impact on total transit times. Slowdowns at ports — whether due to strikes, lack of equipment, or construction — can result in significant slowdowns in the supply chain. The ILWU strike on the West Coast of Canada, for example, resulted in significant delays across the North American intermodal landscape. Experts interviewed by CNBC found that for each day of the 14-day strike, the supply chain would require three to five days to recover.
Transportation Costs
Beyond transit times, poor port performance impacts a business's bottom line. Poor communication between port stakeholders — including shippers, carriers, port operators, and drayage providers — can result in delays. Within days, these delays can manifest as significant demurrage and detention costs, creating a sharp spike in transportation costs.
Customer Satisfaction
Ultimately, the greatest cost for port performance is the lost trust between businesses and their end customers. In the aftermath of the supply chain crisis during the COVID-19 Pandemic, one survey found that 87% of consumers surveyed had been impacted by supply chain disruptions, with 57% reporting having canceled orders due to delays.
Unfortunately, supply chain disruptions are an inevitable part of today’s high-stakes supply chains. Businesses are under more pressure than ever to build supply chains that bend rather than break in the face of disruptions. With port performance having an outsized impact on transit times, transportation costs, and customer satisfaction, it’s clear that today’s business leaders can’t ignore the role of port performance in their supply chain optimization strategies.
Today’s Leading Businesses Turn to Tech to Rethink Port Performance
With the importance of port performance more apparent than ever, today’s leading businesses are desperate to ensure efficiency across their operational base. It’s clear that antiquated strategies of manual calls, emails, and faxes can no longer keep pace in a supply chain rife with disruptions. Leveraging innovative port performance and ocean container visibility technology, businesses across the global economy are leading the charge on rethinking port performance. In this section, we’re looking at three solutions OpenTrack offers to leading businesses looking to rethink port performance.
Real-Time Port Monitoring
With OpenTrack, businesses can leverage unparalleled insight into port operations, enabling stakeholders to make informed decisions and drive improvements in port efficiency. OpenTrack’s innovative container tracking platform offers real-time visibility across the container journey, allowing stakeholders to track key activities such as vessel movements, cargo handling, and berth utilization. By accessing up-to-date data on port operations, users can identify bottlenecks, anticipate potential challenges, and take proactive measures to mitigate risks and optimize performance.
Data-Driven Decision Making
OpenTrack’s port performance monitoring tools enable stakeholders to track key performance indicators (KPIs) related to port performance through intuitive graphs, charts, and dashboards. By visualizing data clearly and concisely, users can gain valuable insights into port operations, identify trends, and make data-driven decisions to improve efficiency. Armed with data-driven port performance insights, shippers can make the smart business decisions needed to stand out in a complex supply chain.
Customer-First Customization
OpenTrack offers customizable dashboards and a user-friendly interface. Users can tailor analytics and reports to their specific needs and preferences, focusing on the KPIs most relevant to their operations. The platform's intuitive interface makes it easy for users to navigate and interpret data, ensuring accessibility and usability for stakeholders at all levels.
Ready to Rethink Port Performance?
With port performance more important than ever, it’s time to rethink your business approach. With OpenTrack, businesses can leverage a vital suite of software tools to optimize efficiency at ports and beyond.
- Real-Time Visibility: With supply chain visibility across modes, OpenTrack provides shippers with the resilience needed to survive and thrive in a complex logistics landscape.
- Exception Alerts: Gain instant insight into the latest events impacting your supply chain, including port delays, demurrage and detention, and last free day.
- API & TMS Integration: With seamless integration into an existing tech stack, OpenTrack helps businesses keep what works and change what doesn’t.
Ready to rethink port performance? Book a demo with OpenTrack today.
