- GoComet integrates D&D Intel to address detention and demurrage cost leakages in supply chain freight transportation.
- Surveyed industry data shows 70% of supply chain teams face revenue losses from charges like D&D.
- 64% of shipments experience delays exceeding two days, potentially costing shippers up to $900K in D&D fees.
- Federal Maritime Commission reports carriers collected $13.8 billion in D&D charges from April 2020 to September 2023.
- Key features of D&D Intel include real-time cost calculations, critical alerts, comprehensive dashboards, and enhanced shipment management.
- GoComet CEO Gautam Prem Jain highlights D&D’s impact on operational costs and customer experience.
- Businesses using D&D Intel can optimize shipping expenses and improve on-time delivery rates significantly.
Main AI News:
GoComet, a prominent player in the supply chain visibility sector, has unveiled a significant enhancement to its AI-powered platform by integrating D&D Intel. This latest addition aims to tackle one of the most substantial cost leakages in freight transportation—detention and demurrage (D&D) charges.
The integration of D&D Intel is poised to revolutionize how logistics teams manage their freight operations, offering enhanced visibility, predictive alerts, and streamlined exception workflows. According to insights gathered from a survey involving over 200 global brands, a staggering seven out of ten supply chain teams struggle with revenue leakages due to accessorial charges like D&D.
GoComet’s proprietary visibility data underscores the magnitude of the issue, revealing that 64% of shipments encounter delays exceeding two days, potentially resulting in approximately $900K in D&D costs for shippers. This aligns with findings from the Federal Maritime Commission, which reported that carriers collected around $13.8 billion in detention and demurrage charges from April 2020 to September 2023 alone.
Gautam Prem Jain, CEO and Co-Founder of GoComet, emphasized the universal challenges faced by supply chain stakeholders, highlighting how D&D charges impact both customer experience and operational costs. “Detention and demurrage charges significantly contribute to carrier revenues while draining resources for beneficial cargo owners,” Jain stated.
Key features of D&D Intel include real-time D&D cost calculations based on customer contracts with terminals and ocean carriers, critical alerts and insights for milestone management, comprehensive dashboards for identifying risk areas, and proactive shipment management to enhance on-time delivery rates.
“With D&D Intel, businesses can potentially save millions by optimizing international shipping expenses for every shipment,” Jain added, underscoring GoComet’s commitment to empowering companies with actionable data to streamline operations and boost profitability.
GoComet continues to lead the charge in transforming freight management with tailored solutions aimed at maximizing efficiency across supply chains globally.
Conclusion:
The integration of D&D Intel by GoComet marks a pivotal advancement in addressing costly inefficiencies within supply chain logistics. By providing robust tools to manage and mitigate D&D charges, GoComet not only enhances operational efficiency for businesses but also underscores the growing importance of predictive analytics in optimizing global supply chains. This innovation is poised to set a new standard in freight management, offering companies actionable insights to improve profitability and competitiveness in the market.
