HIGHLIGHTS
- FourKites will use its machine learning and artificial intelligence capabilities with insights into data from the FedEx network
- If the past two years have taught us anything, it’s that companies need to work together to work smarter and faster.
- FedEx has made a strategic investment in FourKites.
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Impressive numbers
On June 21, FedEx Corp. and FourKites announced a strategic alliance that will provide businesses with new, more powerful real-time visibility to help tackle their most common supply chain challenges, become more efficient and opens up new growth opportunities. Events such as the COVID-19 pandemic, ongoing geopolitical problems, port congestion and other global disruptions have shown the complexity of keeping supply chains interconnected across the board all over the world. FedEx and FourKites are working together to make supply chains smarter by delivering comprehensive and highly detailed visibility for multimodal and multi-carrier operations with deep and deep networks. Rich detailed information about their combined networks.
FourKites’ real-time visualization platform has integrated intelligence at every point of the supply chain and now supports 2.5 million shipments per day, connecting the supply chain of 50% of the 500 companies in the list Fortune books. Through this partnership, FourKites will use its machine learning and artificial intelligence capabilities with insights into data from the FedEx network – this network reaches more than 220 countries and territories, linking more than 99% of the world’s GDP, through more than 16.5 million shipments per day – to create a new end-to-end supply chain intelligence platform called FourKites X. FourKites X will deliver tools and insights to help large shippers and logistics providers mitigate the impact of lingering challenges through a wide range of services from dynamic planning and pre-delivery,
To support this alliance and the launch of FourKites X, FedEx has made a strategic investment in FourKites. “This is an exciting collaboration between the two industry leaders and innovators to open up new opportunities for our customers,” said Sriram Krishnasamy, CEO of FedEx Dataworks. If the past two years have taught us anything, it’s that companies need to work together to work smarter and faster. Our partnership with FourKites creates a data ecosystem that will bring a new level of predictability and visibility to help businesses build smarter supply chains in business environments. The business is complex and unpredictable at present. ”
“We are delighted to announce this groundbreaking platform and strategic partnership with FedEx,” said Mathew Elenjickal, Founder & CEO of FourKites. “Our organizations share a strong commitment to customer success through strategic innovation. Together, we are working to open up the future of global supply chains, built on data and machine learning to bring new value to those global supply chains.
FourKites X – A panorama of global supply chain operations
FedEx Dataworks, a FedEx business unit focused on making supply chains smarter through a robust data science approach and machine learning capabilities, will help FourKites develop the platform. New FourKites X, which helps provide customers with deeper insights into action, more accurate ETAs and smarter supply chains to reduce supply chain volatility and improve revenue growth .
Steve Banker, Vice President, Supply Chain Services, at ARC Advisory Group, said: “When it comes to supply chain data, more is always better and to the extent it can improve time. time to prediction, planning, and more FourKites X could be a big step forward for this market. “
FourKites X customers will be able to integrate the platform with existing systems, and they will be able to receive new capabilities in a modular way with support from data engineers, data scientists and user experience experts. The FourKites X solution will include pre-made applications and an intuitive dashboard, allowing customers to unlock things like pre-shipment weather advice and supply chain insights.
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