(image: FourKites)
CHENNAI, India, Dec. 15 (Korea Bizwire) – FourKites®, the world’s leading real-time supply chain visibility platform, today announced a year of record growth as the company executed on its vision to optimize global supply chains with real-time visibility data and machine learning.
Globally, the company saw triple-digit growth in total shipments; drove 95% growth in new APAC customers and 50% total growth in new customers globally – including Barilla Group, Beyond Meat, Cardinal Health, Haworth, LyondellBasell, McCain Foods, Roehm, Rove Concepts and Yamaha Motors; significantly expanded its carrier network; and extended real-time visibility to more than 2,800 ports and 2.5 million facilities worldwide.
Key to its growth in 2021 was FourKites’ significant expansion in APAC, with notable year-over-year increases in total loads, ports and facilities tracked. Additionally, the company made critical executive appointments and expanded its employee base on the heels of a $100 million financing round. Specifically, in 2021 FourKites APAC saw:
- 120% growth in loads year-over-year, with over 112 billion miles tracked and over 5 billion estimated times of arrival computed globally
- 50% growth of its APAC carrier network
- 2X growth in monthly intermodal volume, with over-the-road, ocean, rail and barge tracking capabilities across 42 countries in the region
- 4X growth in monthly ocean volume, and now tracking 98% of global ocean traffic
- 91% growth in the number of ports tracked per month
- 89% growth in the number of facilities tracked per month, with nearly 8,000 facilities tracked in APAC
Alleviating disruptions with innovative solutions for every mode
FourKites’ local teams and industry expertise in APAC have helped the company address critical use cases in the region, including the ability to track cross-border shipments and the temperature of freight. And amid another year of constant disruptions, FourKites doubled-down on its customer-driven innovation model, with more than 65 new features resulting from customer feedback. These industry-first capabilities help FourKites users track shipments end-to-end across all modes and geographies, from sourcing to manufacturing to final destination.
These innovations included the patented Smart Forecasted Arrival (SFA) that provides frequent and highly accurate ETAs even for untrackable freight in transit. This feature is especially valuable in APAC, where connectivity is inconsistent as drivers pass through certain regions, or as trucks do not have the technology to provide location data. The company also announced Dynamic ETA® for Ocean; Dynamic ETA® for Air; a major upgrade to Dynamic YardSM; its new Order Intelligence Hub (OIH), which provides a single-pane-of-glass view of the entire lifecycle of every order; and powerful new collaboration features – including Instant Messaging, an updated CarrierLink mobile app for drivers, and enhancements to Partner Hub, its self-service, secure GPS onboarding solution for brokers and carriers.
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 for the future of digital supply chains, where automated, interconnected and collaborative supply chains are optimized 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 Yard and real-time visibility platform as part of its suite of asset visibility solutions. Additionally, Zebra’s MotionWorks Yard solution has been integrated with FourKites Dynamic Yard and Zebra locationing hardware and professional services to increase the in-yard and over-the-road capabilities of their customers. In addition, FourKites announced an alliance with Infosys to accelerate the delivery of best-in-class supply chain process innovations and technology solutions.
“It’s been another year of tremendous challenges, but also extraordinary collaboration and progress as a supply chain community,” said FourKites founder and CEO Mathew Elenjickal. “I’m particularly proud of our momentum in the APAC region, where we are now tracking loads in 42 countries. There is a great deal more to come in 2022 as we continue to invest in the region with new talent, solutions and partnerships.”
In 2021, FourKites’ market leadership was recognized via several prestigious industry awards and reports; including being named a leader in the 2021 Gartner Magic Quadrant for Real-Time Transportation Visibility Platforms; #1 supply chain visibility software provider in G2’s Winter Grid® based on overall Market Presence; the sole supply chain company named an AI Trailblazer by Everest Group; and recognition as a Great Place to Work® by the Great Place to Work (GPTW) Institute for the third consecutive year.
Customers in their own words
“I’ve engaged with the FourKites team and they have a fundamental, deep interest in the problems that we have. It’s tough to find that. Your business is dynamic, you need a partner that’s dynamic too.” — Tom France, Vice President, Global Distribution, Logistics and Transportation, Trane Technologies
“FourKites’ Live Network Congestion Map is a great way to understand current impacts and potential risks for the global supply networks that rely on ocean freight. We are grateful to FourKites for their responsiveness and for providing this visibility so quickly.” — Sergiy Yablonskiy, Senior Product Manager for Transportation at Nestlé.
“With FourKites, we have all the information we need in one single reliable source, in real time. Knowing the variations of ETAs in real time allows us to better manage our inventories – even reducing the percentage of safety stock of some raw materials so we can change to plan for just-in-time production. This connection that exists between planning and reliable transit times allows us to be prepared for any change in volume, either up or down, and – above all – to attend to the urgency that we may have in production changes.” — Fernanda Ongay, Transportation Manager, Constellation Brands
About FourKites
FourKites® is the #1 supply chain visibility platform in the world, extending visibility beyond transportation into yards, warehouses, stores and beyond. Tracking more than 2.5 million shipments daily across road, rail, ocean, air, parcel and courier, and reaching 176 countries, FourKites combines real-time data and powerful machine learning to help companies digitize their end-to-end supply chains. More than 750 of the world’s most recognized brands — including 9 of the top-10 CPG and 18 of the top-20 food and beverage companies — trust FourKites to transform their business and create more agile, efficient and sustainable supply chains. To learn more, visit https://www.fourkites.com/.
Media Contact:
Marianna Vyridi
Big Valley Marketing for FourKites
+1 (650) 468-3263
mvyridi@bigvalley.co
Source: FourKites via GLOBE NEWSWIRE
