Every month we select one logistics startup which represents a positive example of innovation in Logistics and Supply Chain and has the potential to alter the way the industry operates. This month, Transmetrics selected Arviem, a full-service provider for real-time cargo tracking and monitoring, as the “Logistics Startup of the Month” for the outstanding contribution to the development of the Supply Chain Visibility.
In order to learn more about the company and what makes Arviem stand out, we have talked with Simona Androvicsova, Chief Marketing Officer at Arviem, about the journey and what is going to define Supply Chain Visibility in the coming years.
First of all, congratulations on becoming the Logistics Startup of the Month! Can you please briefly introduce our readers to Arviem?
Arviem answers the need of organizations for more transparency and visibility in their supply chains. The goal of Arviem is to make global trade visible by monitoring the location and condition of goods in transit in real-time. Arviem is like the crystal ball of supply chain managers. We reveal the flow of goods and finances in the supply chain by providing an independent, real-time, end-to-end cargo monitoring and supply chain visibility service.
Arviem monitors, analyses and reports on all aspects of cargo shipments and supplies clients with real-time data in tailored management reports and real-time notifications. Thanks to real-time updates on delays and disruptions, clients can discover and mitigate supply chain problems before they negatively affect business operations or customer satisfaction. Thanks to vast amount of data and the management dashboards and reports generated by our cargo monitoring service, supply chain professionals are enabled to make data-driven decisions to optimize their supply and logistics chains, improve their working capital management, reduce transport and demurrage cost, insurance premiums, administrative costs as well as to ensure product safety and product quality during transit.
Can you please elaborate on what kind of services does Arviem offer? What types of clients do you work with?
We offer services around supply chain visibility. The core of our entire service portfolio is the combination of the real-time and historic data that we collect through monitoring the cargo. We combine this data with additional data sources and process it with data analytics and machine learning. Beyond supply chain visibility, cargo tracking and condition monitoring (our core services), we also offer services around carbon footprint monitoring in logistics, cargo security monitoring or cargo monitoring on the New Silk Road. Our newest services are around inventory financing and working capital optimization. As we are able to provide traceability from container doors closing to doors opening, we enable clients to optimize their financial and physical supply chains by making goods in transit financeable by various financial institutions we are working with.
Our clients are cargo owners with international operations; manufacturers, exporters, and importers. Most of our clients come from industries with high value, sensitive or perishable cargo as well as from regulated industries.
Since supply chain visibility becomes a common market offering, what should be the next logical step to develop it further?
We look at supply chain visibility as an enabler for service innovation. The data collected through supply chain visibility services and cargo monitoring serves as the basis for creating other innovative services for optimizing various aspects of the supply chain; whether it is of financial or operational nature. Supply chain visibility is only the beginning of the journey, the services built around it are the next step in innovation.
Arviem has won the 2018 Supply Chain Finance Innovation Award and you have recently introduced a new solution to let beneficial cargo owners (BCOs) and trade financiers link visibility data to working capital strategies. Can you please tell us more about how this solution works? Why do you think there is a market need for it?
Currently, when a trade financier provides funds to a BCO they rely on the shipper and the client to provide them with the required information on the whereabouts, status, issues or concerns of the goods in questions. Often this information is late or never provided meaning that financier is unaware of issues until whenever their clients want to advise them. In some cases, the shippers do not legally need to provide the data, even if the cargo is tracked by them.
With Arviem monitoring the financier and BCO are independently aware of the cargo progress and any issues that might be faced in the future. Armed with this information the financier can now really understand the risk from doors closing to doors opening allowing them to finance the right goods and also price more effectively for the risk involved. The BCO can also show his financier the real risks and how they manage the business responsibly.
Since there are quite a lot of real-time cargo monitoring solutions on the market at the moment, what are the unique aspects of Arviem that make it stand out? How can you ensure your leading market position for the future?
Arviem has been on the market for over 10 years and successfully monitoring and protecting cargo globally. During these years we learned the importance of exceptional quality data.
For this, 100% reliable IoT sensor devices are necessary. We decided to develop these devices in house as we could not find other reliable devices on the market. Using our own devices ensures that we offer our clients reliable and independent cargo tracking and monitoring service.
Additionally, unlike our competitors, Arviem is offering a full, carefree service to customers that allows them to track all their global shipments, regardless of the transportation mode or the logistics service provider, on one single platform. Arviem’s services provide a holistic view on all shipments, the information is displayed on an appealing user interface and can be accessed through various channels. The service ecosystem that we offer on top of the cargo monitoring data definitely sets us apart from the competition.
Could you please share any recent client’s success stories? How did Arviem help them in particular?
We have recently worked with a customer in optimizing their demurrage costs. The customer bought 20 days of free time in the port of Angola. By monitoring the location and condition of their shipments in real-time they discovered that they do not actually need this as their containers are moving out of the port significantly faster. By relying on the accumulated data in Arviem’s management dashboard, the client could adapt its planning data and also plan the pickups better. Optimizing their operations, they could save up to 100K USD per year on demurrage costs.
In your opinion, in addition to real-time cargo monitoring, what are the other technological trends that can improve the logistics operations in the next 3 years?
New technologies such as connected devices, networks of things, Big Data, machine learning, and artificial intelligence are changing how businesses and supply chains operate. These technologies can bring additional benefits to companies either through automation, process optimization or elimination of inefficiencies from supply chains. With the help of new technologies, companies and solution providers are enabled to create new business models to solve the problems of today and the problems of the future.
What major developments should we expect from Arviem in 2020?
We will continue in our journey of developing new services around the immense amount of data that we collect. Our goal is to create a portfolio of services empowered by supply chain visibility enabling our clients to optimize various aspects of their supply chains to reduce costs, lead times, ensure product quality and improve customer satisfaction. Beyond further improving our existing services, in 2020 we will be working on better leveraging our data to consult our clients with respect to supply chain risk management and develop risk-related services. We work to help supply chain and logistics professionals to improve their supply chain with advanced, predictive and prescriptive analytics to support decision making.