FEDEX and supply chain visibility company FourKites have joined forces to create a new end-to-end supply chain visibility platform called FourKites X.
The new platform will be designed to help shippers and logistics providers mitigate the impacts of supply chain disruptions created by the pandemic, geopolitical issues and port congestion.
FourKites said it has a visibility platform with intelligence at every point of the supply chain. The platform currently supports 2.5 million shipments a day.
The company said it plans to use its machine learning and artificial intelligence capabilities with data insights from FedEx – which reaches more than 220 countries through more than 16.5 million shipments each day – to create the new platform.
FedEx Dataworks CEO Sriram Krishnasamy said the collaboration between the two industry leaders would unlock new opportunities for shippers and logistics providers.
“If the last two years have taught us anything, it’s that companies need to work together in order to work smarter and faster,” Mr Krishnasamy said.
“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.”
FourKites founder and CEO Mathew Elenjickal described the platform and the new alliance as “ground-breaking”.
“Our organisations share an unwavering commitment to customer success through strategic innovation,” he said.
“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 is expected to provide customers with deeper, actionable insights, more accurate ETAs and greater intelligence to reduce supply chain volatility.
It will feature pre-built applications and an intuitive dashboard, which will allow customers to unlock information such as pre-shipment weather advisories and supply chain insights.
Steve Banker, vice president, supply chain services at ARC Advisory Group, said “more is always better” when it comes to supply chain data.
“The collaboration between FourKites and FedEx is exceptional in both the volume of data that it will aggregate, and in the degree to which it could improve predicted times of arrival, planning and more. FourKites X can be a big step forward for this market.”
