In response to the challenges presented by the COVID-19 pandemic in 2020, Hapag-Lloyd recognized the need for enhanced insight into its supplier base. With a surge in freight and congestion at ports highlighting vulnerabilities in data and information sharing, the ocean carrier sought a solution to better understand and manage its supply chain. This led to a partnership with Craft, a supply chain technology company, which deployed its platform in 2021 to provide transparency through a supplier intelligence portal.
Daniel Braune, head of procurement at Hapag-Lloyd, emphasized the importance of supplier management in ensuring the smooth functioning of the entire supply chain. He highlighted the need for transparency among various suppliers involved in the process, from customers to end destinations. Leveraging big data and artificial intelligence, Hapag-Lloyd aimed to address these challenges and improve operational efficiency.
The platform offered by Craft allows Hapag-Lloyd to categorize suppliers, gather essential information, and receive relevant news alerts. By collecting data from industry partners, utilizing proprietary machine learning, and integrating operational data, Craft provides a comprehensive view of supplier profiles. This data-driven approach enables Hapag-Lloyd to make informed decisions and respond quickly to supply chain disruptions.
During a recent strike at East and Gulf Coast ports, Craft’s platform played a crucial role in helping Hapag-Lloyd mitigate the impact on its operations. By providing real-time alerts and updates on developments, the platform enabled the procurement team to adapt product schedules and minimize disruptions for customers. This proactive approach to risk management demonstrates the value of leveraging technology to enhance supply chain resilience.
In addition to managing operational risks, Craft’s platform also assists Hapag-Lloyd in identifying financial, geographical, geopolitical, and regulatory risks associated with suppliers. By monitoring supplier performance and compliance, Hapag-Lloyd can proactively address potential challenges that may affect its service delivery. This proactive risk management strategy underscores the carrier’s commitment to ensuring operational stability and customer satisfaction.
The user-friendly interface of Craft’s platform allows Hapag-Lloyd employees to easily access and analyze supplier data. With over 500 data points covering various risk categories, the platform offers a comprehensive view of supplier profiles. This enables Hapag-Lloyd to make informed decisions and take proactive measures to mitigate risks.
Overall, the partnership between Hapag-Lloyd and Craft highlights the importance of leveraging technology to enhance supply chain visibility and resilience. By combining data analytics, artificial intelligence, and industry expertise, Hapag-Lloyd is able to navigate complex supply chain challenges and maintain operational efficiency. This proactive approach to supplier management underscores the carrier’s commitment to delivering exceptional service and ensuring business continuity in a dynamic global market.