Hapag-Lloyd bolsters digital contract management

Hapag-Lloyd enters agreement on digital contract fulfilment

Hapag-Lloyd has partnered with digital contracting platform NYSHEX to digitalise its Quality Freight Product (QFP) contracts.

With this partnership, Hapag-Lloyd aims to address the long-standing industry challenge of contract fulfilment and provide its customers with an efficient and modern way to manage performance, exceptions, and reconciliations.

According to a recent release, the solution will bring together multiple data systems to provide a consolidated and accurate view of Hapag-Lloyd’s QFP contract performance and allow for near real-time visibility and daily monitoring of the degree to which the individual contract parties are following up their respective commitments.

After the successful initial pilot, Hapag-Lloyd has embedded NYSHEX in its digital infrastructure and the solution is now being rolled out to all QFP customers globally.

“Hapag-Lloyd’s QFP is a guaranteed fulfilment contract specifically tailored to our customers’ needs, and we will now be able to enhance the customer experience thanks to this partnership with NYSHEX,” said Henrik Schilling, Managing Director – Global Commercial Development of Hapag-Lloyd.

“The solution provided by NYSHEX combines technology, data and analytics in a way that will help us and our customers to better monitor contract performance and to resolve any issues that may arise. We are excited about this partnership.”

READ: Harnessing the power of data to address supply chain challenges

“We are delighted to support Hapag-Lloyd in its quest to enhance and modernise its ocean freight contracts,” said Gordon Downes, CEO of NYSHEX.

“Committed contracting, efficient exception resolution, and clear performance data are the cornerstones of the NYSHEX experience. Our Powered by NYSHEX technology puts trust and reliability at the core of contract fulfilment.

“This friction-free approach will enable Hapag-Lloyd to optimise its global network and support its Quality Promises.”

Earlier this week, Hapag-Lloyd has started rolling out real-time tracking devices on its dry container fleet to offer visibility and boost transparency across the supply chain.

The first IoT devices are being installed on dry containers at the CMR depot in Wilhelmsburg, Hamburg.

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