Port Updates: Port of L.A. Data Tool May Help Stakeholders Predict Long-Term Cargo Volume
The following article is based on a press release issued by The Port of Los Angeles on July 19, 2021.
July 20, 2021 | The Toy Association is alerting members of a new data tool launched by the Port of Los Angeles to help predict long-term cargo volume at the Port up to six months in advance, which could prove to be a critical resource for members faced with ongoing shipping challenges to better plan and allocate resources.
The new “Horizon” feature of its Port Optimizer Control Tower tool provides supply chain stakeholders with the ability to gauge movement of containers — imports, exports, and empties — at the Port.
Developed in partnership with Wabtec, the technology uses an algorithm based on historical and trending volume data collected by the Port Optimizer, the cloud-based secure digital portal of maritime shipping data created by the Port in 2017 to facilitate more efficient cargo flow through its terminals. Continually taking into account changing conditions at the Port, the algorithm constantly updates cargo volumes, allowing for improved forecasting over time and issue six-month-ahead volume updates every month.
“We’re proud to break ground with this new forecasting tool, which is the first of its kind,” said Port of Los Angeles Executive Director Gene Seroka. “The Horizon predictive technology is yet another service that we can offer Port stakeholders to better plan and allocate resources, especially amid this historic cargo surge.”
The Toy Association continues to work with the Port of Los Angeles to keep members informed of these tools as well as any port updates surrounding the ongoing shipping crisis. The Association previously hosted a member exclusive webinar with Seroka, which included a forecast of the 2021 holiday shipping season. A recording of that session is available for free to Toy Association members.