Maersk Line: Global Supply Chain Overhaul
Summary
TLDRMaersk Line, a century-old shipping giant, is embracing digital transformation to revolutionize its operations. Utilizing the Internet of Things, data analytics, and a culture of humbleness and uprightness, Maersk is optimizing its global network of over 600 vessels and millions of containers. Modernized refrigerated containers equipped with sensors allow for real-time monitoring and maintenance, while data-driven strategies aim to reduce costs and improve efficiency. Looking ahead, Maersk plans to commercialize its analytics, offering customers deeper insights and control over their supply chains, creating new revenue opportunities.
Takeaways
- 🚢 Maersk Line, a century-old company, transports 15% of the world's GDP and is moving towards digitization using IoT, data, and analytics.
- 💰 The company has a large cost base with significant investment in assets such as vessels and containers, where analytics helps reduce operating costs.
- 🔍 Maersk operates a complex global network of over 600 vessels and millions of containers, with a focus on optimizing operations.
- 📈 They have identified numerous opportunities for value creation through analytics within their complex business model.
- 📦 Maersk's refrigerated containers, or 'reefers', have been modernized with sensors to monitor cargo location and temperature, dating back to 1936.
- 🛠 The company uses data to predict maintenance needs, similar to a patient visiting a doctor with known symptoms, to streamline container inspections.
- 🔄 Maersk spends over $1 billion annually on moving empty containers and uses data analytics to optimize their relocation.
- 💼 They are developing an automated process to assess depot needs for empty containers and route them efficiently.
- 🌐 Maersk is digitizing its global assets, focusing on fuel economy, voyage optimization, reefer containers, and empty container optimization.
- 🤝 The company culture values humbleness and uprightness, which aligns well with data-driven decision-making and embracing new ideas.
- 🔮 Looking ahead, Maersk aims to commercialize sensor data, offering customers more insights and control over their supply chain, creating new revenue streams.
Q & A
What percentage of the world's GDP does Maersk Line transport?
-Maersk Line transports 15% of the world's GDP.
How is Maersk Line approaching digitization in its operations?
-Maersk Line is using the Internet of Things, data, and analytics to digitize its operations and strengthen the global supply chain.
What is the significance of analytics in reducing Maersk Line's operational costs?
-Analytics plays a large part in trying to reduce the cost associated with operating Maersk Line's vessels, network, and equipment.
What is the complexity of Maersk Line's business model?
-Maersk Line's complex business model includes over 600 vessels and millions of containers traveling to nearly 350 ports in 121 countries 365 days a year.
How many refrigerated containers does Maersk Line have, and what is their historical significance?
-Maersk Line has roughly a quarter of a million refrigerated containers, which date back to 1936 and have been modernized with sensors.
What capabilities do the sensors in Maersk Line's refrigerated containers provide?
-The sensors in Maersk Line's refrigerated containers allow the company to monitor the location, temperature of the cargo, and opportunities for critical maintenance.
What is the cost implication of moving empty containers for Maersk Line?
-Maersk Line spends more than 1 billion dollars a year moving empty containers back and forth.
How is Maersk Line using data and analytics to optimize the movement of empty containers?
-Maersk Line is using data and analytics to automate and optimize where empty containers go next, creating a more efficient process for depots around the world.
What are the core values that Maersk Line's culture encompasses, and how do they relate to the analytics journey?
-Maersk Line's culture encompasses core values such as humbleness and uprightness, which lend themselves well to the analytics journey by promoting openness to new ideas, listening, and being convinced by objective facts.
What is Maersk Line's future vision regarding the use of analytics and data for its customers?
-Maersk Line's future vision is to give analytics and data to its customers, providing them with more insights and control over their supply chain while creating new revenue streams.
How does Maersk Line plan to commercialize its sensor data and what benefits does it offer to customers?
-Maersk Line plans to commercialize its sensor data by making it available to customers for transparency and actionable insights, allowing them to engage with their goods in transit and change the value propositions of Maersk Line.
Outlines
🚢 Maersk Line's Digital Transformation
Maersk Line, a century-old company responsible for transporting 15% of the world's GDP, is advancing its operations through digitization. By leveraging the Internet of Things, data analytics, and other technologies, Maersk aims to transform its corporate culture and enhance the global supply chain. The company operates a vast network with over 600 vessels and millions of containers, all of which present significant cost and operational challenges. Maersk is particularly focused on using analytics to reduce costs associated with vessel operations and equipment. The company also sees opportunities for value creation through data-driven insights, despite the complexity of managing its extensive assets. A key aspect of Maersk's digitization efforts involves the use of sensors in refrigerated containers, allowing for real-time monitoring of cargo conditions and predictive maintenance. This modernization not only dates back to the company's early beginnings with refrigerated containers in 1936 but also represents a significant step towards a more efficient and data-driven future.
Mindmap
Keywords
💡Maersk Line
💡Digitization
💡Internet of Things (IoT)
💡Data and Analytics
💡Global Supply Chain
💡Cost Base
💡Refrigerated Containers (Reefers)
💡Empty Container Optimization
💡Culture
💡Commercialization
Highlights
Maersk Line transports 15% of the world's GDP and is embracing digitization.
Utilizing the Internet of Things, data, and analytics to transform company culture and enhance the global supply chain.
Maersk has a large cost base with significant investment in assets such as vessels and containers.
Analytics is crucial for reducing operational costs of Maersk's vessels and equipment.
Maersk's complex business model involves over 600 vessels and millions of containers.
The company operates a global network servicing nearly 350 ports in 121 countries year-round.
Maersk manages two types of assets: ships and containers, including a quarter of a million refrigerated containers.
Reefer containers are equipped with sensors for monitoring cargo location and temperature.
Data analytics helps in predicting and planning maintenance for refrigerated containers.
Maersk spends over 1 billion dollars annually on moving empty containers and is optimizing this process.
An automated process is being developed to assess and route empty containers more efficiently.
Maersk is digitizing its global assets to improve fuel economy, voyage optimization, and container management.
A strong data-driven culture is emphasized within Maersk, with values like humbleness and uprightness.
Maersk aims to provide analytics and data to customers for better supply chain insights and control.
The next stage for Maersk is to commercialize sensor data, offering customers the ability to interact with their goods in transit.
Maersk is leveraging IoT and data analytics to change its culture and strengthen the global supply chain.
Transcripts
transporting 15% of the world's GDP
century-old Maersk Line is voyage 'uncle
steam ahead towards digitization using
the Internet of Things
data and analytics to change its culture
and strengthen the global supply chain
so we're a company that has a very large
cost base we have some vessels that let
me fuel and they themselves are not
cheap so we have a lot of money invested
too that is tied up in our assets and so
analytics really plays a large part in
trying to reduce the cost associated
with operating our vessels in our
network and our equipment and so yes we
have a on top of having a very complex
business model we also have a
fortunately a lot of low-hanging fruits
and opportunities to really try value
through analytics that complex business
model includes over 600 vessels and
millions of containers traveling to
nearly 350 ports in 121 countries 365
days a year
marcelin actually operates a global
network of two types of assets we are
both the ships and we have the
containers and while the containers at
least the refrigerated ones run into
roughly a quarter of a million and there
there are equipped with sensors those
refrigerated containers or reefers
actually date back to 1936 for Maersk
but now decades later they are
modernized and outfitted with sensors
giving Maersk the ability to monitor the
location the temperature of the cargo
and opportunities for critical
maintenance we have to invest that we
have to inspect and investigate
containers at the end of each journey
especially the refrigerated ones so we
use we use the cents a day that's
actually evaluate how should we approach
each of those tasks a bit like a patient
going to the doctor but you can know
what the symptoms are before they turn
up spending more than 1 billion dollars
a year moving empty containers back and
forth Maersk Line is using data and
analytics to automate and optimize where
empty containers go next when we have to
relocate all our empty containers and
the historic model has been that you
have Depot's around the world and in
each of those Depot's they actually
themselves individually assess what's my
need for for empties right now to have
available
customers and that model can be made
more efficient so what we're building
from the analytic side is actually a
whole automated process for them that
does that job it assesses how much they
need and it also automatically make sure
that those containers are routed to them
so that they have that stock that is
required without going too far Mayers is
digitizing global assets for the future
in fuel economy voyage optimization
reefer containers and empty container
optimization it's a journey
requiring a strong commitment and
culture to data driven principles the
culture is it's very strong in us and we
have a culture that encompasses a couple
of core values I think the most apparent
ones in our everyday work is humbleness
and uprightness so it's about actually
always being open to other's ideas and
to listen partly and partly to always
say what you mean and mean what you say
and actually be very forthright in
sharing your views and then committing
to to whatever is decided and I think
both those values lend themselves really
well to the analytics journey because
it's all about actually embracing new
ideas and actually listening and letting
yourself be convinced by objective fact
and then helping others to actually
deliver that value afterwards looking to
the future Maersk wants to give the
analytics and data to their customers
giving them more insights and control
over their supply chain while creating
new revenue streams I think for us the
next stage is then to commercialize it
is to actually take all that sensor data
and make it available both from a
transparency point of you to customers
but also for actions because you can
probably imagine that if a customer had
the ability to change the air pressure
or the humidity or the temperature or
the o2 co2 distribution within the
container they can actually engage with
their goods while they're in transit and
that completely changes the value
propositions of the Maersk Line using
the Internet of Things data and
analytics to change their culture and
strengthen the global supply chain
you
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