July, 202219 a digital twin platform that combines vessel IoT data with schedules, container, and shipment data to deliver live vessel statuses, allowing decision-making based on real-time information. IQAX leverages digital twin to detect and fill gaps in the original data. In addition, to identify potential delays and predicted the updated ETAs and ETDs based on latest and complete data, the firm provides a real-time ocean shipment visibility platform ­ the IQAX TrackIt.Most platforms display the latest vessel schedules' ETA at the next port when a shipper looks up their cargo status and expected arrival time. IQAX TrackIt, on the other hand, can alert the shipper in advance to the route change that will have downstream impacts giving the shipper more time to respond and communicate changes to customers and other parties waiting for the cargo. Furthermore, IQAX uses a digital twin to fill in gaps and imperfections that exist in the world of data while providing the best quality view into the past, present and future. This facilitates ongoing innovation and digitization initiatives such as real time supply chain network optimization or in-transit inventory optimization and makes it possible to overcome hurdles created by the availability or quality of data from their partners.Each potentially delayed shipment, if tracked, can mean avoiding tens of thousands of dollars in detention and demurrage charges, chargebacks, lost sales, or factory waiting times. Integrating the highly interactive maps and dashboards beyond the logistics teams to sales, purchasing, and support can further improve communications and elevate customer service. Last year in January, one of the container ships at Port Kaohsiung in Taiwan collided with a crane and affected terminal operations, cargo, and other container vessels that relied on that container terminal. IQAX provided the latest status at the terminal such as vessels stuck at the terminal; heading to terminal; or changing route. to the client in real-time using IQAX TrackIt. IQAX tapped into the enormous amount of data and leveraged the digital twin platform to predict the cargo movement more accurately than other sources.IQAX reconciled data accuracy from continuous updates of different source data to output, harmonised shipment tracking data, providing customers with the most reliable and the possible options such as whether their cargo is able to take the planned vessel, what other vessels customers can consider, etc related to shipment routing and associated vessel's arrival or departure. IQAX combined proprietary machine learning-based techniques and live data such as carrier published vessel schedules, ports terminals information and vessel IoT to output predictive vessel berthing time in Port Kaohsiung in Taiwan to give customer insights on berthing situations to better arrange the downstream transportation.As IQAX continues to grow year on year, they focus on collaborating with industry players in the global trade value chain to bring tangible solutions that solve real business challenges. Treading ahead, IQAX aims to build effective solutions that can operate alongside multiple systems to deliver real-time predictive analytics regarding cargo movements and payments.At IQAX we use a digital twin to fill in gaps and imperfections that exist in the world of data while providing the best quality view into the past, present and future
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