FedEx Corp. and the company FourKites, which specializes in supply chain visibility, announced a strategic partnership that will give companies new, more powerful real-time visibility capabilities to help them address their most pressing supply chain challenges efficiency and seize new growth opportunities. The difficulty of maintaining integrated supply chains worldwide has been made clear by events like the COVID-19 epidemic, ongoing geopolitical tensions, port congestion, and other worldwide disruptions. By giving thorough and incredibly detailed visibility into multi-modal and multi-carrier operations with the deep network and rich insights of their combined networks, FedEx and FourKites are working together to make supply chains smarter.
The real-time visibility platform from FourKites connects the supply chains of 50% of Fortune 500 firms by integrating intelligence at every stage of the supply chain and presently handles 2.5 million shipments daily. By combining its machine learning and artificial intelligence capabilities with data insights from the FedEx network, which connects more than 220 countries and territories and more than 99 percent of the global GDP through more than 16.5 million shipments daily, FourKites will create a new end-to-end supply chain intelligence platform called FourKites X through this partnership. Through various capabilities, including dynamic planning and pre-shipment, enhanced visibility and proactive alarms, and supply chain optimization insights, FourKites X will offer tools and insights to help large shippers and logistics providers mitigate the effects of ongoing problems.
FedEx has strategically invested in FourKites to support this relationship and the introduction of FourKites X.
A Complete Overview of Global Supply Chain Operations: FourKites X
The development of FourKites' new platform, FourKites X, which will help customers get deeper actionable insights, more precise ETAs, and more intelligent supply chains to reduce supply chain volatility and boost top-line growth, will be supported by FedEx Dataworks, a business unit of FedEx dedicated to making supply chains smarter through a powerful data science approach and machine learning capabilities.
Large shippers and logistics service providers can use the platform to find potential markets for:
- How to manage empty shelves and industrial slowdowns through better planning by senior supply chain officers
- How businesses can utilize data to transform supply chain problems into opportunities to enhance customer experience
- How CFOs may improve supply chains for expansion and effectiveness
With assistance from data engineers, data scientists, and user experience specialists, FourKites X customers will be able to integrate the platform with current systems and add new capabilities in a modular fashion. Customers will be able to access things like supply chain analytics and pre-shipment weather forecasts with the help of the FourKites X solution, which comes with pre-built applications and an easy-to-use dashboard.
About FedEx Corp.
A wide range of transportation, e-commerce, and commercial services are offered by FedEx Corp. to clients and companies across the world. Under the reputable FedEx brand, the company offers integrated business solutions through operating firms that work together, compete with one another, and develop digitally. Inspiring its roughly employees to stay focused on safety, the highest ethical and professional standards, and the requirements of their customers and communities, FedEx is consistently recognized among the world's most admired and trusted employers. With a target to achieve carbon-neutral operations by 2040, FedEx is dedicated to connecting people and opportunities globally in an ethical and productive manner.
About FourKites
The industry-leading platform for supply chain visibility, FourKites, extends visibility past transportation to include yards, warehouses, retail, and other locations. FourKites combines real-time data and potent machine learning to help businesses automate their end-to-end supply chains. FourKites tracks more than 2.5 million shipments each day spanning road, rail, ocean, air, mail, and courier, reaching more than 200 countries. More than 1,000 of the most well-known brands in the world, including nine of the top ten CPG companies and eighteen of the top twenty food and beverage businesses, rely on FourKites to revolutionize their operations and build more flexible, effective, and sustainable supply chains.
