14 February, 2024 – In a recent interaction with CNBC, GoComet CEO, Gautam Prem Jain, delved into startling statistics surrounding key facets of supply chains. The conversation revolved around critical elements such as port throughputs, carrier performance, and reliability percentages – all essential indicators shaping the efficiency of the supply chain ecosystem.
As the ripples from the Red Sea disruption continue to reverberate throughout global supply chains- ports, and carriers grapple with the intricate dance of meeting customer timelines. Despite concerted efforts, the challenges persist, highlighting the need for innovative solutions to navigate these complexities.
One glaring issue discussed was theopaquenessprevalent in supply chains, where no single neutral party holds access to an industry-wide data repository. This lack of centralized information poses a significant challenge for businesses aiming to grasp the pulse of freight movement infrastructure, spanning port terminals, carriers, and beyond.
Gautam Prem Jain, CEO, GoComet, highlighted the critical importance of businesses staying informed about on-ground situations. He emphasized,"It is crucial for managing expectations and seizing opportunities uncovered through data."
According to him, in today's dynamic landscape, achieving supply chain resilience goes beyond merely acknowledging the power of data. He added, "It's about crafting systems that thrive on data-led insights for smart decision-making."
Insights from GoComet's CEO
- Current Red Sea disruptions in the Suez Canal result in a noteworthy transit time increase from Far/South East to the US, signaling the need for strategic pivots in industry-wide supply chain routes.
- On-time performance exhibits significant variation across East and West Coasts, with the West Coast demonstrating stability unlike ~15 days avg delay when shipping via East Coast. Businesses are urged to consider diverse coastal options, with the West Coast presenting a strategic edge for increased operational stability.
- Long Beach emerges as a strategic port option, offering a crucial alternative route amid the ongoing Red Sea disruptions, underscoring its value as a dependable and resilient industry-wide port option.
In a landscape where data is the cornerstone of informed decision-making, the insights shared by GoComet's CEO underscore the importance of leveraging data for supply chain resilience and agility.Read more about these revelations in the CNBC article: Read More on CNBC
About GoComet:
GoComet, GoComet is a visionary technology company founded by four IITians on a mission to revolutionize the supply chain industry. With a commitment to eliminating traditional opaqueness in supply chain operations, GoComet has successfully acquired over 500+ prominent brands, including industry giants such as Tata, Glenmark, ITC, General Mills, and Yokohama. Backed by esteemed investors, including Atlas Ventures, Rider Global, Rebright Partners, Jetty Ventures, Leo Capital, and India Quotient, GoComet's robust technology solutions have guided organizations through significant supply chain disruptions, such as the COVID-19 pandemic, port shutdowns, and the Suez Canal blockade.