Leading French technology specialist, Wiremind Cargo has enhanced its CargoStack CMS suite, adding a unique Revenue Optimization System developed under the CargoTech innovation umbrella.
Wiremind Cargo has today launched a new module within its CargoStack CMS suite: Revenue Optimization is a comprehensive decision support tool designed to help sales steerers and flight controllers in three key aspects of their job. For Revenue Management, the system recommends an Entry Condition, or “hurdle rate”, to help flight controllers to decide on which bookings to accept on the flight. For pricing, a rate recommendation for spot requests is provided. Lastly, for overbooking, the system provides advice based on the expected show-up rate of booked cargo.
The advice that the system provides are not the only added value it offers. As important as these recommendations based on AI models, are the flexibility that the system offers by allowing rules to be set by the user, especially in cases where there is less data, such as on a newly launched route. Finally, one of the key differentiating features of CargoStack Revenue Optimization is the display of key market insights to help for decision making. For Revenue Management and Pricing in particular, those insights include live market data (capacity and demand) that are essential to take a decision for a flight controller. This “MRI” approach (Model, Rules and Insights) offers the right level of advice for each possible use case.
CargoStack is a competitive and highly cost-effective software as a service (SaaS) product enabling seamless interaction between airlines, GHAs, GSAs, and forwarders, and offering visibility and control along the entire operational chain from product placement through to flight loading. Wiremind Cargo continuously maintains and updates the product to keep pace with the dynamic changes within the air cargo industry.
Launched in 2022, Wiremind Cargo is the cargo arm of the Wiremind Group, founded in 2014. With this division, the company is positioned in the field of freight with experts entirely dedicated to the needs of this industry and the development of dedicated tools. Those engineers come from the transport & logistics industries and know how to exploit technology in a truly meaningful way to create business value. Whether it is a GSA, a GHA, a freight forwarder or even an airline, Wiremind Cargo will be able to meet its needs in terms of inventory, reservations, capacity management, pricing, or optimization.
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