Project44 announces the acquisition of ClearMetal | Technology
Project44, a leader in real-time global supply chain visibility, announced it has acquired ClearMetal, a company based in San Francisco leader in international supply chain visibility and predictive analytics for businesses.
ClearMetal’s AI enables organizations to optimize their supply chains and provides customers with easy access to reliable, real-time information about their orders and shipments. This acquisition by project44 enables customers to improve the agility and resilience of their global and multimodal supply chains.
“Project44 has the widest and deepest visibility network in the world, on all modes of transport”, mentionned Jett mccandless, Founder and CEO, project44. “With the addition of ClearMetal’s advanced artificial intelligence and data science team, we are building on a solid foundation and expanding our capabilities to provide more accurate and predictable ETAs and visibility into the orders of customers and inventory in transit. “
COVID-19 supply chain disruptions
COVID-19 has caused a global disruption in supply chains, and these disruptions have meant that the need for more advanced technologies is greater than ever. Customers have rising expectations, so being able to track orders is essential. But supply chains have also been a vital lifeline in supporting the response, keeping essential medical supplies, food and other essentials flowing where they are needed most.
A recent study found that 60% of executives said the pandemic had increased the strategic importance of their supply chain. It also showed that companies urgently need to ensure their supply chains are in line with the new digital and autonomous era.
ClearMetal, combined with project44’s global multimodal network, provides customers with deeper visibility earlier in the order lifecycle to predict and act on supply chain disruptions, before they occur. This new functionality includes inventory visibility for shippers and direct integrations with freight forwarders and ocean carriers. As a result, customers can take advantage of the most accurate end-to-end ETA for all modes of transport available only from project44.
The combined platform will bring value to customers and supply chain partners by:
- Deepening AI-based business and market analysis capabilities that translate into smart cost savings in the form of reduced buffer stock (15% reduction) and inventory optimization (reduction of 10 to 20%)
- Improved demand forecasting and distribution capabilities, providing visibility into orders and inventory levels across shipments, resulting in accelerated cost reductions (25-30%)
- Increase the visibility of upstream global suppliers, particularly in Asia, where manufacturers and forwarders play a critical role in the global supply chain
Earlier in 2021, project44 was named a Leader in the Gartner Magic Quadrant, and ClearMetal was recognized by Gartner as one of four vendors as part of Gartner’s 2021 Global Visibility Business Process: “Magic Quadrant for Real-Time Transportation Visibility Platforms »» report.