Equally surprising, was the fact that at no point did any supply chain partner or authorities have all the information about the shipment (location, owner, contents etc.) and the information they did have was often wrong or incomplete, the result of information being rekeyed multiple times in the process.
“Various studies have estimated that, in general, the average border related administrative costs of trade are 21% of the total cost, compared to 8% for transportation. What we’re aiming for is to remove as much of that 21% as possible with the Shipping Information Pipeline, in order to slash the cost of international trade in the region,” says Jensen.
Accurate and timely information
“The way things are now, the sharing and transfer of information about a container involves a lot of repetitive steps. It’s complex and bureaucratic and makes mistakes very likely,” says Elizabeth Kimani.