Recording nearly 50% YoY growth and connecting the supply chains of 50% of the Fortune 500, the world's leading corporations continue to select FourKites for real-time, end-to-end supply chain visibility
Leading supply chain visibility company FourKites today announces strong global growth during 2022, as the company executed on its vision for automated, interconnected and collaborative supply chains that span transportation, warehouses, stores, trucks and more. The company realised 70% growth in new customers, with more than 1,200 of the world's most recognised brands now using FourKites to track more than 3M shipments around the world every day.
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FourKites Extends its Leadership Position in the Supply Chain Visibility Market with a Year of Strong Growth Innovation (Photo: Business Wire)
Among the new customers who are using FourKites to transform their supply chains are QVC, Ahold Delhaize, Volvo Group, Rohlig Logistics, Fiberpartner, Chevron Corporation, SpaceX, Molson Coors, Bacardi and 3T further validating Gartner's ranking of FourKites as a Leader in the 2022 Gartner Magic Quadrant for Real-time Transportation Visibility Solutions, and the visibility provider of choice for customers with the most complex supply chain needs.1
In 2022, FourKites achieved the following in Europe:
- 2X growth in European shipments, across 120 countries and territories
- 40% growth in European customers
- 24% growth in the number of carriers tracking shipments
- 2.4B+ miles tracked in the region
Industry giants back FourKites' long-term vision of supply chain transformation
In addition to strategic investments in 2021 from industry heavyweights Qualcomm Ventures, LLC, Volvo Group Venture Capital AB and Zebra Technologies, over the past year, FourKites inked strategic partnerships with a number of industry titans to continue executing on its bold vision for the future of digital supply chains. These companies include FedEx, Quiet Platforms, Mitsui Co., Ltd., Sony, Microsoft and Narvar. The real-time supply chain visibility pioneer was also recognised for its industry leadership and ongoing innovation by Gartner, SupplyChainBrain, Blue Yonder, Builtin Chicago, Manhattan Associates and Food Shippers of America.
Unique customer collaboration model continues to deliver industry-first innovations
Close collaboration with customers has been the bedrock of FourKites' product development since the company's inception. More than nine out of 10 FourKites customers are active contributors to the company's IdeaExchange, and FourKites' Innovation Partner program has generated more than 200 product enhancements from more than 70 companies, including Andersen Corporation, Canfor, Cardinal Health, Ecolab, Henkel, Kimberly-Clark, Smithfield and Sprouts Farmers Market, among others.
New solutions released in 2022 include:
- New detention demurrage capabilities to help shippers more quickly and proactively identify potential detention and demurrage fees; prioritise exceptions according to likely business impact; and proactively adjust carriers, lanes or other factors as necessary.
- "FourKites' automated reporting and tracking for ocean provides more accurate and real-time data, which allows Canfor to respond to customer inquiries quicker with up-to-date information on our upcoming shipments that would have otherwise had to be manually tracked." Bob Hayes, Vice President of Global Supply Chain at Canfor
- Patented ocean shipment innovations that provide international shippers and their partners with complete visibility into all of the complex documentation requirements at every leg of every ocean shipment.
- A Net Zero initiative to help companies reduce supply chain emissions, including FourKites' Sustainability Hub, a suite of analytics tools to provide better visibility into resource consumption and waste generation; a new Sustainability Advisory Board; and ongoing original research around sustainability.
- "To track emissions and to evaluate how we're performing it all relies on data. And that's a place where we've been thrilled with our partnership with FourKites, because without it, we would not have the critical data we need to operate well." Karen Betancourt, Vice President of Logistics at Cardinal Health
- A new unified customer interface that integrates real-time transportation visibility and facility-specific data across all modes.
- "FouKites continues to excel and impress me with their ability to deliver tools that are useful and support our account in a way that is customer first. In working with them, they have been able to roll out coverage in multiple countries, manage the work, and enhance their tool along the way. I'm very impressed with their product and the agility in delivery." Logistics Strategy Analyst, Manufacturing
"In the past year, we worked closely with our community of supply chain leaders and partners to introduce valuable solutions and insights to better manage inventory, drive efficiencies in supplier ecosystems, streamline international shipments, improve sustainability and so much more," says FourKites founder and CEO Mathew Elenjickal. "In 2023, we look forward to helping our customers take the next leap forward in their logistics operations, expanding their insight further into their network and at the SKU level. Together, we will build a more resilient and agile supply chain."
About FourKites
Leading supply chain visibility platform FourKites extends visibility beyond transportation into yards, warehouses, stores and beyond. Tracking more than 3 million shipments daily across road, rail, ocean, air, parcel and last mile, and reaching over 200 countries and territories, FourKites combines real-time data and powerful machine learning to help companies digitise their end-to-end supply chains. More than 1,200 of the world's most recognised 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/.
1 Gartner, Critical Capabilities for Real-Time Transportation Visibility Platforms, Carly West, 24 May 2022.
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Contacts:
Scott Johnston
European PR Director for FourKites
+31 62 147 8442
scott.johnston@fourkites.com
