Project44, a business that provides real-time supply chain visibility, has paid $255 million for Convey, a last-mile technology platform. From raw materials to the front door, the two organizations will work together to give end-to-end supply chain insight.
Project44’s “Real-time Transportation Visibility Platform” (RTTVP), which provides information on shipments in transit across all modes and geographies, as well as precise delivery ETAs, will benefit from the purchase, which will improve last-mile, direct-to-consumer delivery experiences.
Convey’s global customer base, which includes over 200 major companies such as The Home Depot, Nieman Marcus, and Ferguson Enterprises will be available to project44 as a result of the transaction. In a statement, Jett McCandless, CEO and creator of project44, said, “project44 is solving today’s most crucial business challenge: how to deliver on continuously increasing consumer demands while remaining operationally efficient during unprecedented volatility and growing complexity.”
“The stakes are high for businesses to not just fulfill and ship orders, but also to make accurate availability and delivery guarantees. However, this is challenging to execute due to fluctuating conditions, overwhelming complexity, and supply chain blind spots.”
With more customers relying on e-commerce for goods and experiencing unprecedented delays, supply chain management is a prominent topic around the world. According to an Allied Market Research research from 2020, the worldwide supply chain management market was worth $15.85 billion in 2019 and is predicted to grow to $37.41 billion by 2027.
It’s easy to see why given that manufacturers all across the world are currently dealing with supply chain problems as a result of the pandemic. According to a 2020 poll, 35% of respondents stated cross-border transportation delays had a negative impact on their firm.
According to the firm, the Convey purchase now allows project44 to connect over 880 worldwide shippers and third-party logistics providers to a network of 113,000 carriers, 2.6 million assets, and over 9 billion last-mile transportation events. Clients should see reduced expenses, more income, faster shipment and service, and a better overall delivery experience.
Convey’s automated customer communication service also allows project44 customers to resolve package delivery concerns, allowing them to spend less time manually dealing with customer support and more time focusing on essential business competencies.
