Supply chain data provider project44 will expand its real-time shipment tracking services in China in a move to give clients the same transportation visibility it currently offers for “mature” markets like North American and Europe, the firm said today.
According to Chicago-based Project44, the opacity of Asia’s trucking markets has emerged as a weak link in global supply chains, even as the post-Covid-19 economic recovery picks up pace.
Fortunately, truckload markets in Asia have been modernizing as China continues to incentivize the scrapping of old trucks, replacing them with newer models equipped with electronic logging devices (ELDs), the firm said. And that changeover is paving the way to connect those trucks to supply chain networks, where data privacy provisions allow, and thus to generate the real-time transportation data that can improve agility, predictability, and efficiency.
By expanding visibility in Asian markets, Project44 says it will help buyers of Asian goods increase the resiliency of their supply chains, while extending visibility to domestic Asian shippers and logistics service providers (LSPs) who demand the same real-time transportation visibility enjoyed in western markets.
The expansion marks Project44’s latest expansion since landing $100 million of venture capital at the end of 2020, and in March acquiring a German firm that provides ocean freight tracking information.