The project ‘Data Analytics for Trade Lane Risk Assessments and Control’ will conduct research into innovative solutions to optimize trade lane risk management for global pharmaceutical logistics. This is a significant growth market, particularly for temperature-sensitive biological products for which the market is expected to grow to 360 Billion US$ in 2020 (IATA, 2016).
In the coming years risk management to comply with regulations and to optimize trade lanes will be a key priority for pharmaceutical shippers and their logistics service providers. It is also extremely complex, as pharmaceutical shippers manage hundreds of transport routes, for which product features, packaging options, supplier capabilities and transport conditions must be evaluated.
In this project the TU Eindhoven (TUE), Validaide and Panalpina aim to develop advanced data analytics solutions that can significantly improve current risk assessments and result in further trade lane optimization. This research is directly related to TKI Dinalog’s innovation roadmap, specifically to the topic Data Analytics within the Smart ICT Roadmap.