E2open Ocean Shipping Index Indicates Continued Reduction in Cross-Ocean Shipment Transit Time Across All Major Ocean Routes
20 July 2023 - 9:15PM
Business Wire
Latest report signals a rebound to pre-pandemic levels
despite ongoing supply chain disruptions
E2open Parent Holdings, Inc. (NYSE: ETWO), the connected supply
chain SaaS platform with the largest multi-enterprise network, has
released the latest edition of its Ocean Shipping Index, a
quarterly benchmark report that provides insight for
decision-making around global ocean shipments. Report data reflects
a 14-day improvement in cross-ocean transit times over the same
quarter in 2022, suggesting that ocean shipment transit times are
rebounding to pre-pandemic levels despite ongoing geopolitical
concerns, labor strikes, threats of recession, and other supply
chain disruptors.
The e2open Ocean Shipping Index provides a data-driven reference
for shippers to understand how long it takes to move goods
internationally and the factors contributing to observed delays.
The report is based on historical data from e2open’s business
network, encompassing over 420,000 connected enterprises managing
14 billion transactions and tracking 71 million containers
annually. The Ocean Shipping Index is unique because it captures
the shipment booking date, adding deeper insight for
decision-making.
“Amidst ongoing supply chain challenges, companies are
benefiting from available capacity, lower freight rates, and
reduced ocean shipment transit times—a reversal from the height of
the pandemic,” said Pawan Joshi, executive vice president, products
and strategy for e2open. “The latest index suggests the time it
takes for ocean shipments to move in the major trade lanes is
stabilizing around the current number of days, reducing the
uncertainty in inventory planning for brands and enabling them to
optimize merchandise availability and selection in time for peak
season.”
Key takeaways from the latest e2open Ocean Shipping Index report
include:
- As of July 1, 2023, it takes a company an average of 58 days to
deliver goods to truck or rail carriers after booking with an ocean
carrier and completing the cross-ocean journey, a 14-day
improvement from the same quarter last year.
- All trade lanes saw a reduction or remained flat in the total
booking to receipt time from the previous quarter.
- Exports from Europe to North America and North America to South
America decreased by five days since the previous quarter, the most
significant decrease among all trade lanes.
- Compared to the same quarter in 2022, goods moving from Europe
to North America took 23 days less, and the journey for ocean
shipments from North America to South America took 12 days
less.
This report is one of several benchmark reports available from
e2open to help companies navigate increasingly complex global
supply chains.
View and subscribe to the latest e2open Ocean Shipping Index at
e2open.com.
About e2open E2open is the connected supply chain
software platform that enables the world’s largest companies to
transform the way they make, move, and sell goods and services.
With the broadest cloud-native global platform purpose-built for
modern supply chains, e2open connects more than 420,000
manufacturing, logistics, channel, and distribution partners as one
multi-enterprise network tracking over 14 billion transactions
annually. Our SaaS platform anticipates disruptions and
opportunities to help companies improve efficiency, reduce waste,
and operate sustainably. Moving as one.™ Learn More:
www.e2open.com.
E2open and “Moving as one.” are the registered trademarks of
E2open, LLC. All other trademarks, registered trademarks and
service marks are the property of their respective owners.
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version on businesswire.com: https://www.businesswire.com/news/home/20230720811928/en/
Media Contact: 5W PR for e2open e2open@5wpr.com 718-757-6144
Investor Relations Contact: Dusty Buell dusty.buell@e2open.com
investor.relations@e2open.com
Corporate Contact: Kristin Seigworth VP Communications, e2open
kristin.seigworth@e2open.com
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