Supply chain transparency is what FourKites is all about. Its software allows for instantaneous analysis and action for enterprises and 3PLs. It’s a boon to retail, medicine, food and beverage, and other sectors that rely on it. It provides real-time email alerts in the case of issues, allowing shippers to take preventative measures and notify customers of the delay. Learn more about Fourkites and what makes it stand out from competitors by reading on.
Fourkites
FourKites provides yard management, asset monitoring, shipment documentation, and other services to pharmaceutical, manufacturing, retail, consumer products, and other companies. It provides cloud-based supply chain visibility. Also, users may track loads, produce payment invoices, find parking, and interact with trading partners using iOS and Android apps. The Chicago-based company was founded in 2014.
Ocean visibility and document management modules from FourKites allow businesses to follow marine items in real time using satellites. Shippers can also organize documents in a digital hub and receive alerts about workflows and prioritized containers. Microsoft, Trimble, McLeod, and other third-party applications are straightforward to integrate into the platform.
FourKites gives shippers in all sectors visibility. Whether their containers are in transit by sea, air, rail, or land or waiting at the yard to be loaded onto a ship, shippers can receive real-time updates. APIs, RPA, and EDI help FourKites digitize supply chains and estimate ETAs. Small and large organizations can adopt FourKites, which integrates easily with old systems.
Features of Fourkites
A Global Multimodal Network, Customizable, Automated Notifications, Exclusive Machine Learning Algorithms, Appointment Scheduling, Insights, and Analytics, as well as other services, are offered by Fourkites.
Visibility of Fourkites
On their platform, FourKites offers complete multimodal exposure. Your consignment’s journey is connected at each stop. Also, FourKites’ patented machine learning algorithms use these details, along with information from mobile devices, GPS, ELD telematics networks, etc., to forecast ETAs and identify interruptions.
Fourkites Yard Management
FourKites gives shippers visibility over container movement as well as the ability to track and trace in-yard cargo. It enables shippers to simply alter yard appointment arrangements based on actual arrival times. To streamline upcoming operations, shippers can obtain information such as on-time performance statistics, missed appointments, dwellings, etc. Additionally, it offers a variety of real-time data, like temperature monitoring, inventory tracking, and SKU-level visibility.
Fourkites Ocean Management
FourKites is a single platform that shippers may use to handle papers, track moving containers from the dock until delivery, and interact with other parties. It serves as a central location for shipping papers to specify workflows and automate task setup and triggering based on your requirements. In order to manage and lower demurrage and detention, shippers can prioritize containers with the aid of visibility and document management.
How Do Fourkites Work?
FourKites provides a comprehensive visibility solution for a shipper’s supply chain by matching essential load information from a carrier and shipper. A carrier can convey this data to FourKites in a number of ways.
Fourkites Competitors
There are more visibility platforms outside of FourKites, which is a well-known one. There are a lot of Fourkite competitors available. Every shipper has different needs; therefore, if FourKites does not provide you with all the capabilities you require, the following top 5 competitors are worth taking into account:
#1. BuyCo
BuyCo is a container shipping marketplace for large importers and exporters. This Fourkite competitor uses cooperation, automation, and visibility to provide shippers with complete control over the maritime supply chain. Also, BuyCo unifies partners, forwarders, and 95% of carriers to consolidate communication, minimize error margins, and enhance production.
BuyCo automates shipment planning, vessel scheduling, and booking to maximize resources and improve execution.
BuyCo gives full visibility into your business activities. It analyzes real-time carrier position data from multiple sources to provide the most accurate tracking information and anticipate ETAs/ETDs. Deadlines help manage client expectations and prevent exceptions.
Finally, BuyCo’s KPIs and reporting give you real-time visibility into your operations to optimize processes, save costs, and prepare for negotiations.
#2. Infor Nexus
This Fourkite competitor is a platform for supply chain visibility based on cloud computing called Infor Nexus. It also links the financial supply chain partners to the manufacturers, suppliers, 3PLs, brokers, and other parties in the supply chain to provide shippers with information regarding container movement.
To forecast demand and supply signals and alert shippers to opportunities as well as potential interruptions, InforNexus collects historical and real-time data. In the latter instance, it also provides directive recommendations. The synchronized technologies improve freight accrual accuracy, consolidate contract and rate administration, and simplify multi-leg, multimode planning.
#3 Transporeon
Transporeon links shippers and suppliers with carriers, merchants, and recipients of goods. Through the interface, shippers can centralize communication for the transfer of documents and guarantee that all parties have access to the most recent versions. Additionally, Transporeon streamlines the purchasing procedure and provides shippers with simple access to the spot market. It offers expense reports as well as pollution reports. Once the container is moving, shippers can track it and find out the status of the real delivery. In order to provide insights on various parameters, it also analyzes data from all of its collection hubs.
#4. Project 44
In order to provide shippers with visibility and real-time connectivity to carriers and 3PLs, project 44 adopts an API-first strategy. Other current transportation management systems can be linked to this integration platform as a Service (iPaaS). Project 44 allows shippers to centralize communication and document sharing while automating scheduling, booking, tracking, and document retrieval processes. Project 44 allows shippers to track and trace goods that are traveling by truckload, rail, air parcel, and sea routes. It focuses on high-fidelity data and offers trustworthy analytics in addition to practical insights.
#. 5 Shippeo
A multimodal visibility Fourkite competitor called Shippeo uses automation and artificial intelligence to offer real-time information. The technology allows shippers to track the movement of containers across 75 countries and connect the data to the ERP, TMS, or WMS platform of their choice.
With the use of a machine learning ETA algorithm, Shippeo analyzes both historical and current data in order to identify probable disruptions and forecast accurate ETDs and ETAs. It provides shippers with access to a control tower map that is color-coded to further emphasize dangerous deliveries and show where they are in real-time. They can also link to this information or share it with clients via the customer visibility portal.
#6. Anvyl
From the time you place a PO with your supplier until it is delivered inbound, Anvyl creates a bridge across your global supply chain teams, systems, and suppliers to provide a single source of truth and enhance collaboration and alignment. Anvil facilitates team and technology communication by enabling real-time access to crucial information that is released as it happens, greatly enhancing network visibility, and facilitating speedier, more informed decision-making. By automating manual operations and redundant procedures, Anvyl maximizes efficiency. It is designed to effortlessly absorb changes, delays, and updates along the route to intelligently transition through the order stages. Supply chain teams can intelligently leverage the power of their own data to expose crucial insights and patterns to help them make better decisions, know when to take action, and more accurately estimate delays and lead times with the help of Anvyl IQ, our proprietary AI engine.
What Is the History of Fourkites?
Arun Chandrasekaran, Mathew Elenjickal, Priya Rajagopalan, Vivek Vaid, and Sriram Viji founded Four Kites in 2014. The company was founded to address the problem of a lack of real-time visibility in supply chains. Moreover, its founders saw the vast opportunity presented by bridging the gap using technology to provide shippers, carriers, and logistics service providers with actionable insights to enhance their operations.
The founding team saw the potential for technology to transform supply chain management, and they were all seasoned professionals with expertise in logistics, data analytics, and technology. They intended to build a system that would increase the efficiency and openness of international supply chains through teamwork, real-time monitoring, and data-driven insights.
Mathew Elenjickal, CEO and co-founder of FourKites was already an accomplished businessman when he joined the company. Before starting FourKites, he was an executive at several different transportation and logistics companies, including the largest container shipping company in the world. Product development, software engineering, and business administration were the respective strengths of the remaining co-founders, Priya Rajagopalan, Vivek Vaid, and Sriram Viji. Together, the team had the expertise to develop a system that fixed the biggest problems associated with supply chain transparency and logistics coordination.
Arun Chandrasekaran was another pioneer who came equipped with a wealth of knowledge in technology and data analytics. The technological basis and skills of FourKites were significantly shaped by his expertise in using cutting-edge analytics and machine learning.
Where Is Fourkites Headquarters?
The main FourKites headquarters can be found in the Chicago area at 300 South Riverside Plaza.
Is Fourkites Public or Private?
FourKites is not publicly traded in the United States and is therefore not listed on the New York Stock Exchange or the National Association of Securities Dealers. To buy shares in a private company before its initial public offering (IPO), you need to meet the criteria of an accredited investor. In order to get started or learn more about investing in the private market, sign up right away.
How Much Is Fourkites Worth?
As of September 27, 2022, PrivCo estimates that FourKites’ post-money value is between $500 million and $1 billion.
Is Fourkites a Startup?
Forbes named FourKites one of the Next Billion Dollar Startups because of its ability to improve client-client collaboration by connecting the world’s most powerful technologies with global end-to-end supply chains.
How Big Is the Fourkites Team?
Our vast network links 200+ countries and territories via road, rail, ocean, and air, with over 490,000 carriers and 98% of the world’s ocean trade. Since its founding in 2014, FourKites has grown to include more than 550 hard-working individuals across its network of locations in the United States, Europe, and Asia.
Who Is the Marketing Manager at Fourkites?
Steve Rotter is the FourKites’ marketing manager.
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