FourKites Closes Record Year 2021 at Foreground of Supply Chain Visibility | News
CHICAGO, December 14, 2021 (GLOBE NEWSWIRE) – FourKites®, the world leader in real time supply chain visibility platform, today announced a year of record growth as the company implemented its vision of creating automated, interconnected and collaborative global supply chains that span transportation, warehouses, stores, trucks and more . The company recorded triple-digit growth in total shipments and shipments by mode; generated 50% growth in new customers, including Barilla Group, Beyond Meat, Cardinal Health, Haworth, Kwik Trip, LyondellBasell, McCain Foods, Roehm, Rove Concepts and Yamaha Motors; considerably expanded its network of carriers; and real-time visibility extended to more than 2,800 ports and 2.5 million installations worldwide.
Specifically, in 2021, FourKites saw:
105% growth in total shipments, after covering more than 112 billion miles and calculating more than 5 billion estimated arrival hours; 161% growth in rail volume; and 116% growth in air volume 126% growth in its global carrier network to more than 600,000 carriers, as well as a 50% increase in downloads of its CarrierLink mobile application for drivers Significant growth in Europe, with 148% growth in shipping volume; 2X new customers; and 35% growth in its carrier network 120% growth in APAC shipment volume, which now tracks loadings in 42 countries, with 50% growth in its regional carrier network
which included several new strategic investors who share FourKites’ vision for the future of digital supply chains, including
, with the participation of
,
Volvo Group Venture Capital AB
and
Mitigate Disruption with Innovative Solutions for Every Mode In the midst of another year of constant supply chain disruptions, FourKites has doubled its customer-centric innovation model, with over 65 new features in the platform. FourKites form resulting from customer feedback. These industry-first capabilities help FourKites users track end-to-end shipments in all modes and geographies, from sourcing through manufacturing to final destination.
The new patent from FourKites
The capacity, based on breakthroughs in artificial intelligence and machine learning, brought real-time visibility into loads that previously could not be tracked, providing ETAs on 97% of untracked loads.
Now provides shippers, carriers and 3PLs with the most accurate ETAs on the market for 100% of their ocean shipments on all routes around the world, with powerful new tools to mitigate the risk of demurrage and detention. FourKites now covers 98% of global maritime traffic.
revolutionized air shipment tracking by enabling real-time visibility into 100% of air cargo, with highly accurate and predictive ETAs, so the supply chain can protect its investments in a critical but expensive mode of transport. A major upgrade from
enables highly precise and granular data down to the individual SKU level, so inventory can be located faster and disruptions resolved proactively. Customers see up to 30% improvement in workforce efficiency, 40% improvement in dock throughput, and 40% to 80% reduction in holding costs.
integrates order data, multimodal load information, yard shipments, inventory visibility, and other critical third-party systems to provide a new overview of the entire lifecycle of each order.
Powerful new collaboration features
– including instant messaging, an update
mobile application and improvements to
, its self-service secure GPS integration solution – helps shippers, carriers and brokers work together to increase customer satisfaction, reduce costs and improve on-time delivery performance.
Forging Powerful New Partnerships to Accelerate End-to-End Visibility In 2021, FourKites forged new strategic partnerships with global supply chain and technology leaders as it continues to execute on its bold vision to the future of digital supply chains, where automated, interconnected and collaborative supply chains are powered by real-time visibility data and machine learning.
New partnerships in 2021 include a global partnership with Zebra Technologies Corporation (NASDAQ: ZBRA), in which Zebra is now reselling FourKites Dynamic court and real time visibility as part of its suite of asset visibility solutions. In addition, Zebra MotionWorks Court The solution has been integrated with Dynamic Yard and Zebra tracking hardware and professional services to increase capacity in the yard and on the road for its customers. FourKites has also partnered with Association of Consumer Brands New Supply Chain Health and Performance Working Group, which includes 15 leading CPG companies that use FourKites to identify common bottlenecks and inefficiencies. The company also announced a strategic partnership with DAT Freight and Analysis which will bring real-time, end-to-end visibility of the FourKites supply chain to the more than 10,000 broker customers and 100,000 DAT carriers to enable them to improve equipment utilization, increase driver productivity and operate an efficient and sustainable freight network.
“This has been another year of enormous challenges, but also of extraordinary collaboration and progress as a supply chain community,†said Mathew Elenjickal, Founder and CEO of FourKites. “Behind every FourKites success and innovation are tenacious and passionate employees, customers and partners who continue to redefine what is possible. I am grateful to be part of such an awesome community. FourKites’ market leadership was recognized in 2021 through several prestigious industry awards and reports, including being Named a Leader in Gartner Magic Quadrant 2021 for Real-Time Transportation Visibility Platforms; Leading supplier of supply chain visibility software in G2’s Winter Grid® based on global market presence; the only company in the supply chain named a AI pioneer by Everest Group; one of four transportation and logistics companies to receive the Best in Business award from Inc .; and recognition as a leader in the recent CB Insights Pharmaceutical Supply Chain ESP Supplier Assessment Matrix.
Customers in their own words “I got involved with the FourKites team and they have a fundamental and deep interest in the issues we have. It’s hard to find. Your business is dynamic, you need a partner who is too. ” Tom France, Vice-President, Global Distribution, Logistics and Transportation, Trane Technologies
“With FourKites, we have all the information we need in one reliable source, in real time. Knowing the variations of ETA in real time allows us to better manage our stocks, even to reduce the percentage of safety stock of certain raw materials in order to be able to evolve to plan a production just in time. This link between planning and reliable transit times allows us to be prepared for any change in volume, up or down, and – above all – to face the urgency that we may have in the production changes. »Fernanda Ongay, Transport Manager, Marques Constellation
“The collaboration we have been talking about in logistics for 20 years is now real. The more you can collaborate and integrate with your carriers, the more effectively you will be responding to your customers’ expectations, which, ultimately, is what it is. FourKites is more than just tracking and traceability; it’s about visibility and how we’re going to use it to start gaining efficiency. Paul Avampato, Head of International Logistics, Henkel
About FourKites FourKites® is # 1 supply chain visibility platform globally, extending visibility beyond transportation to courtyards, warehouses, stores and beyond. Tracking more than 2 million shipments per day by road, rail, ocean, air, parcel and courier, and reaching 176 countries, FourKites combines real-time data and powerful machine learning to help businesses digitize their shipping chains. end-to-end supply. Over 750 of the world’s most recognized brands, including 9 of the Top 10 CPGs and 18 of the Top 20 agribusinesses, trust FourKites to transform their businesses and create more agile, efficient and sustainable supply chains. To find out more, visit https://www.fourkites.com/.
Media contact: Marianna Vyridi Big Valley Marketing for FourKites (650) 468-3263 [email protected]
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