GoComet Case Studies Tyre Manufacturer Overcomes Suez Canal Blockade with IoT Solution

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	Tyre Manufacturer Overcomes Suez Canal Blockade with IoT Solution GoComet

Tyre Manufacturer Overcomes Suez Canal Blockade with IoT Solution

GoComet

Technology Category	Analytics & Modeling - Predictive Analytics Analytics & Modeling - Real Time Analytics
Applicable Industries	Automotive Retail
Applicable Functions	Facility Management
Use Cases	Real-Time Location System (RTLS) Supply Chain Visibility
Challenge	A leading tyre manufacturing company based in Mumbai, India, with production facilities across the globe, faced a significant challenge due to the Suez Canal blockade in March 2021. The blockade, caused by a skyscraper-sized container ship named Evergreen, left about 200 ships stranded at either end of the canal, severely impacting global trade. The financial implications were massive, with the blockade amounting to a loss of nearly £7 billion of goods a day, or approximately £290 million an hour. The tyre manufacturer's westbound and eastbound shipments were halted, impacting cargo worth $18.5 million. This resulted in delays in the delivery of finished goods, affecting eight customers across Europe and the US. Furthermore, the supply of raw materials to production facilities in India was severely disrupted, causing significant interruptions in the production cycle. Read More
About Customer	The customer is a Mumbai-based global leader in tyre manufacturing, with production facilities spread across Israel, China, Europe, India, South Africa, the USA, and Mexico. The company specializes in application-specific tyres for the automotive industry and multi-purpose tyres for other sectors. The brand was significantly impacted by the Suez Canal blockade in March 2021, which halted both its westbound and eastbound shipments, affecting cargo worth $18.5 million. The blockade also caused delays in the delivery of finished goods to eight customers across Europe and the US and disrupted the supply of raw materials to its production facilities in India. Read More
Solution	In response to this crisis, the company sought a tool that would provide visibility into their shipments' locations, the duration they would remain stranded, and rich analytics to forecast future scenarios. GoComet's GoTrack Automated Shipment Tracking system was the chosen solution. GoTrack provided real-time visibility, offering accurate insights on vessels rerouting via South Africa and those waiting for the canal to reopen. The system also provided predictive and descriptive data, forecasting delays and updating ETAs based on on-ground developments and advanced data analytics. Additionally, GoTrack generated automated daily reports on the status of the ships carrying the company's cargo. This solution allowed the company to make data-driven decisions to navigate the crisis, reallocate resources, better manage production cycles, and enhance customer experience by sharing live tracking updates. Read More Log in to view content
Contents

Technology Category

Analytics & Modeling - Predictive Analytics

Analytics & Modeling - Real Time Analytics

Applicable Industries

Automotive

Retail

Applicable Functions

Facility Management

Use Cases

Real-Time Location System (RTLS)

Supply Chain Visibility

Challenge

A leading tyre manufacturing company based in Mumbai, India, with production facilities across the globe, faced a significant challenge due to the Suez Canal blockade in March 2021. The blockade, caused by a skyscraper-sized container ship named Evergreen, left about 200 ships stranded at either end of the canal, severely impacting global trade. The financial implications were massive, with the blockade amounting to a loss of nearly £7 billion of goods a day, or approximately £290 million an hour. The tyre manufacturer's westbound and eastbound shipments were halted, impacting cargo worth $18.5 million. This resulted in delays in the delivery of finished goods, affecting eight customers across Europe and the US. Furthermore, the supply of raw materials to production facilities in India was severely disrupted, causing significant interruptions in the production cycle.

About Customer

The customer is a Mumbai-based global leader in tyre manufacturing, with production facilities spread across Israel, China, Europe, India, South Africa, the USA, and Mexico. The company specializes in application-specific tyres for the automotive industry and multi-purpose tyres for other sectors. The brand was significantly impacted by the Suez Canal blockade in March 2021, which halted both its westbound and eastbound shipments, affecting cargo worth $18.5 million. The blockade also caused delays in the delivery of finished goods to eight customers across Europe and the US and disrupted the supply of raw materials to its production facilities in India.

Solution

In response to this crisis, the company sought a tool that would provide visibility into their shipments' locations, the duration they would remain stranded, and rich analytics to forecast future scenarios. GoComet's GoTrack Automated Shipment Tracking system was the chosen solution. GoTrack provided real-time visibility, offering accurate insights on vessels rerouting via South Africa and those waiting for the canal to reopen. The system also provided predictive and descriptive data, forecasting delays and updating ETAs based on on-ground developments and advanced data analytics. Additionally, GoTrack generated automated daily reports on the status of the ships carrying the company's cargo. This solution allowed the company to make data-driven decisions to navigate the crisis, reallocate resources, better manage production cycles, and enhance customer experience by sharing live tracking updates.

Impact #1	The implementation of GoComet's GoTrack Automated Shipment Tracking system had a significant impact on the company's operations. With real-time data-driven insights, the company was able to make strategic decisions to weather the crisis. The visibility provided by the system allowed the company to reallocate their resources and better manage production cycles, leading to significant cost savings. Furthermore, the automated reports generated by the system enabled the company to share live tracking updates with their customers for their specific orders. This transparency not only enhanced the customer experience but also strengthened business ties, proving instrumental in maintaining customer relationships during a challenging period.

Impact #1

The implementation of GoComet's GoTrack Automated Shipment Tracking system had a significant impact on the company's operations. With real-time data-driven insights, the company was able to make strategic decisions to weather the crisis. The visibility provided by the system allowed the company to reallocate their resources and better manage production cycles, leading to significant cost savings. Furthermore, the automated reports generated by the system enabled the company to share live tracking updates with their customers for their specific orders. This transparency not only enhanced the customer experience but also strengthened business ties, proving instrumental in maintaining customer relationships during a challenging period.

Benefit #1	The company was able to manage a crisis impacting cargo worth $18.5 million
Benefit #2	The solution helped in reallocation of resources and better management of production cycles, resulting in savings of $800K
Benefit #3	The company was able to maintain customer relationships by providing live tracking updates for specific orders

Benefit #1

The company was able to manage a crisis impacting cargo worth $18.5 million

Benefit #2

The solution helped in reallocation of resources and better management of production cycles, resulting in savings of $800K

Benefit #3

The company was able to maintain customer relationships by providing live tracking updates for specific orders

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Overview

Tyre Manufacturer Overcomes Suez Canal Blockade with IoT Solution

Operational Impact

Quantitative Benefit