FedEx and FourKites Form Alliance to Make Supply Chains Work Smarter
FedEx Corp. and supply chain visibility platform FourKites® have announced a strategic alliance that will provide businesses with new, more robust real-time visibility capabilities to help solve their most pervasive supply chain challenges and become more efficient.
Events like the COVID-19 pandemic, ongoing geopolitical issues, port congestion, and other global disruptions have revealed the complexities in keeping interconnected supply chains around the world up and running.
FedEx and FourKites are collaborating to make supply chains smarter by bringing comprehensive and highly granular visibility into multi-modal and multi-carrier operations with the deep network and rich insights of their combined networks.
FourKites’ real-time visibility platform has integrated intelligence at every point of the supply chain, and currently supports 2.5 million shipments a day, connecting the supply chains of 50% of Fortune 500 companies.
Through this collaboration, FourKites will be using its machine learning and artificial intelligence capabilities with data insights from the FedEx network – which reaches more than 220 countries and territories, linking more than 99% of the world’s GDP, through more than 16.5 million shipments daily – to create a new end-to-end supply chain intelligence platform called FourKites X.
FourKites X will provide tools and insights to help large shippers and logistics providers mitigate the impacts of sustained challenges via a suite of offerings ranging from dynamic planning and pre-shipment, to enhanced visibility and proactive alerts, to supply chain optimization insights.
To support this alliance and the launch of FourKites X, FedEx has made a strategic investment in FourKites.
Sriram Krishnasamy, CEO, FedEx Dataworks said: “This is an exciting collaboration between two industry leaders and innovators coming together to unlock new opportunities for our customers.
“If the last two years have taught us anything, it’s that companies need to work together in order to work smarter and faster.
"Our collaboration with FourKites creates a data ecosystem that will deliver a new level of predictability and visibility to help businesses build smarter supply chains in today’s unpredictable and complex business environment.”
Mathew Elenjickal, FourKites Founder & CEO said: “We are excited to announce this groundbreaking platform and strategic collaboration with FedEx.
“Our organizations share an unwavering commitment to customer success through strategic innovation. Together, we are working to pave the future of global supply chains, built on a foundation of data and machine learning to deliver new value to those global supply chains.”
FourKites X – A Complete Picture of Global Supply Chain Operations
FedEx Dataworks, a business unit in FedEx focused on making supply chains smarter, will support FourKites’ development of the new platform, FourKites X, that will help give customers deeper actionable insights, more accurate ETAs, and more intelligent supply chains to reduce supply chain volatility, and improve top-line growth.
The platform is being designed to help large shippers and logistics providers identify areas of opportunity, such as:
How chief supply chain officers can improve planning to address empty shelves and manufacturing slowdowns
How companies can use data to turn supply chain crises into chances to improve the customer experience
How chief financial officers can optimize supply chains for growth and efficiency
Customers of FourKites X 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-built applications and an intuitive dashboard, which will allow customers to unlock things like pre-shipment weather advisories and supply chain insights.