FedEx Corp. and supply chain visibility company FourKites formed a strategic alliance for providing businesses with new, more robust real-time visibility capabilities to help solve their most pervasive supply chain challenges, become more efficient, and unlock new growth opportunities. The difficulty of maintaining integrated supply chains around the world 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.
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 percent 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.
“This is an exciting collaboration between two industry leaders and innovators coming together to unlock new opportunities for our customers,” said Sriram Krishnasamy, CEO, FedEx Dataworks. “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.”
“We are excited to announce this groundbreaking platform and strategic collaboration with FedEx,” said Mathew Elenjickal, FourKites Founder & CEO. “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.”
