Weft tracks shipping containers using low-cost hardware to make sure that shipments get to where they're supposed to be on time and intact, saving billions in lost value due to cargo shrink and disrupted supply chains.
There are 20 million shipping containers out there. Around 100,000 containers are tracked right now, and by 2016 Gartner expects that number to be 1 million. We believe this estimation to be wildly conservative due to the current model -- shippers buy hardware + infrastructure; Weft customers lease our hardware and we provide all the service, hardware, analytics, and infrastructure.
Weft takes the current location and planned routes of all shipments on the platform and combines this information with historical data to identify likely bottlenecks and shrinkage areas + alert shippers to potential problems before they occur. Shippers can then adjust routes and schedules to increase the likelihood of on-time delivery and decrease the impact of supply chain disruption.