Veracity creates an ecosystem where users can safely share data and link it to other quality assured datasets to extract value. In this case, Jotun is using the Estimated Time of Arrival (ETA) dataset to ensure it has the right amount of product in the right place.
“Veracity is making paint digital. Jotun have recognised that even products that seem as analogue as paint can benefit from digital solutions and this is an example of how Veracity is not simply a platform for data but also a place for collaboration,” Bjørn Tore Markussen, managing director of DNV GL’s Veracity platform unit.
For some time, ships have reported their positions through AIS transponders. A DNV GL team has cleaned the data and then developed an algorithm that accurately predicts arrivals at ports.
Jotun joined the Veracity pilot programme to verify its benefit to the market and it became apparent that an early approximation for vessels future port visits could provide value to Jotun’s supply chain. A more comprehensive understanding of the movements of the global fleet allows Jotun to optimise stock and delivery planning.
Geir Axel Oftedahl, Jotun’s business development director, said, “A platform like Veracity opens new opportunities for us. Instead of Jotun acting alone or bilaterally with DNV GL, we are able to reach out and tap into the capacities from a range of different partners.”
DNV GL is currently developing ETA Enhanced which will build on the current model that will more accurately predict the arrival of vessels by using specific data about various vessels from the asset owners themselves.