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Drew Yao

Drew Yao

Director of Data Science at DataPrime

Dr. Drew Yao is a Director of Data Science at DataPrime. He collaborated with Fortune 500 companies to perform sophisticated analyses to solve challenging business problems. He brought game-changing analytics capabilities and developed AI/ML models across multiple industries, including healthcare, airline, hospitality, cruise, automotive, media, entertainment, and communication. Prior to DataPrime, he worked for Delta Air Lines and Revenue Analytics, designing and developing the full spectrum of revenue management functionalities.


Track: Revenue Management

Powering Ocean Freight Forwarding with Revenue Management

In the past few years, the ocean freight forwarding industry has faced significant challenges and uncertainties from the Suez Canal Obstruction, COVID-19 pandemic, fuel prices, trade disputes, and labor shortages. Ocean freight forwarding companies have been looking to add machine learning and optimization capabilities to navigate these uncertainties and adapt to changing market conditions. This presentation will share the lessons learned through developing a supply chain solution for a digital freight forwarding company. Topics covered include critical data cleaning and transformation to create quality input data, demand forecasting, container allocation, price elasticity estimation, and dynamic pricing. Outcomes include significant capacity planning and pricing improvements and, most importantly, substantial margin improvement across hundreds of trade routes. The solution generates intelligent buying and selling recommendations for the procurement and the sales organizations. It also improves operations by optimizing the allocation of containers to voyages across the network.