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 added a revenue optimisation system module within its CargoStack cargo management system (CMS) suite.
The module, which has been developed under the CargoTech innovation umbrella, is designed to help sales staff 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.
Plus, for overbooking, the system provides advice based on the expected show-up rate of booked cargo.
The system also offers flexibility by allowing rules to be set by the user, especially in cases where there is less data, such as on a newly launched route.
Key market insights are provided to help decision making. For revenue management and pricing, those insights include live market data (capacity and demand).
Wiremind Cargo chief executive Nathanaël de Tarade said: “In an industry-first software, our advanced data science algorithms leverage the data available in CargoStack together with live and historical market demand information based on aggregated search data. The result is a fast and convenient tool providing clear analytical insights, and one that Sales Steerers & Flight Controllers will actually use because it really does make their life easier.”
The tool is scalable, too. “A small airline does not have the same processes for revenue optimisation as larger ones do, so we adapt our system to the appropriate use case,” he explained.
Software as a service CMS CargoStack is designed to offer interaction between airlines, GHAs, GSAs, and forwarders, providing visibility and control along the entire operational chain from product placement through to flight loading.