Carrier partners with Paxafe to enhance risk management
Carrier Transicold is collaborating with Milwaukee-based startup Paxafe to enhance its Lynx digital platform by combining Paxafe’s artificial intelligence (AI)-powered risk and prediction modeling with Carrier’s cold chain monitoring to deliver a “more connected and sustainable cold chain,” the companies reported.
“Through this collaboration with Paxafe, we are adding capabilities to our powerful Lynx platform to provide our customers greater visibility and intelligence, and enable proactive decision-making across their cold chain operations,” Alice DeBiasio, Carrier vice president and general manager for truck trailer Americas and digital solutions, said in a news release. “The collaboration will offer supply chain leaders and logistics managers risk management insights to unlock greater control and resiliency within their distribution networks that will enable them to better predict, prevent and resolve risks before they occur.”
The Lynx platform provides customers around the world with end-to-end tracking and predictive analytics to automate processes and help mitigate disruptions across their cold chain operations, helping to ensure the delivery of temperature-sensitive cargoes like food, medicine, and vaccines more efficiently. As a result of this collaboration, customers will be able to make faster decisions to improve the overall effectiveness, efficiency, and sustainability of their supply chains, enhance connectivity, decrease delivery delays of critical cargo, and reduce cargo damage, loss, and unanticipated costs, the companies said.
The pharmaceutical industry estimates $35 billion of product loss each year due to compromised product integrity caused by temperature anomalies in the supply chain, Paxafe added.
“Digitization within the supply chain is accelerating rapidly, and we believe this relationship contains synergies that will benefit the industry at large,” Paxafe CEO Ilya Preston said. “We are optimistic that our continued collaboration will further enable companies to focus on delivering products on-time, in full to the end customer.”
