We use cookies to provide you with a better experience. By continuing to browse the site you are agreeing to our use of cookies in accordance with our Cookie Policy.
  • INDUSTRY PRESS ROOM
  • ABOUT
  • CONTACT
  • MEDIA FILE
  • Create Account
  • Sign In
  • Sign Out
  • My Account
Free Newsletters
  • MAGAZINE
    • Current Issue
    • Archives
    • Digital Edition
    • Subscribe
    • Newsletters
    • Mobile Apps
  • TRANSPORTATION
  • MATERIAL HANDLING
  • TECHNOLOGY
  • LIFT TRUCKS
  • PODCAST ETC
    • Podcast
    • Webcasts
    • Blogs
      • One-Off Sound Off
      • Global Logistics and Risk
      • Empowering Your Performance Edge
      • Analytics & Big Data
      • Submit your blog post
    • Events
    • White Papers
    • Industry Press Room
      • Upload Your News
    • New Products
      • Upload Your Product News
    • Conference Guides
    • Conference Reports
    • Newsletters
    • Mobile Apps
  • DCV-TV
    • DCV-TV 1: News
    • DCV-TV 2: Case Studies
    • DCV-TV 3: Webcasts
    • DCV-TV 4: Viewer Contributed
    • DCV-TV 5: Solution Profiles
    • Parcel Forum 2022
    • MODEX 2022
    • Upload Your Video
  • MAGAZINE
    • Current Issue
    • Archives
    • Digital Edition
    • Subscribe
    • Newsletters
    • Mobile Apps
  • TRANSPORTATION
  • MATERIAL HANDLING
  • TECHNOLOGY
  • LIFT TRUCKS
  • PODCAST ETC
    • Podcast
    • Webcasts
    • Blogs
      • One-Off Sound Off
      • Global Logistics and Risk
      • Empowering Your Performance Edge
      • Analytics & Big Data
      • Submit your blog post
    • Events
    • White Papers
    • Industry Press Room
      • Upload Your News
    • New Products
      • Upload Your Product News
    • Conference Guides
    • Conference Reports
    • Newsletters
    • Mobile Apps
  • DCV-TV
    • DCV-TV 1: News
    • DCV-TV 2: Case Studies
    • DCV-TV 3: Webcasts
    • DCV-TV 4: Viewer Contributed
    • DCV-TV 5: Solution Profiles
    • Parcel Forum 2022
    • MODEX 2022
    • Upload Your Video
Home » FedEx buys share of FourKites, launches joint visibility service

FedEx buys share of FourKites, launches joint visibility service

Partners will mine shipment data, sell insights through “FourKites X” platform

fedex dsc05797_50431120753_o_50710058936_o-scaled.jpg
June 21, 2022
Ben Ames
No Comments

Parcel giant FedEx Corp. is extending its effort to find valuable patterns in its huge stores of transportation and delivery data, announcing today that it has bought an ownership share of FourKites, and will team with the logistics tech firm to create a supply chain visibility product.

The move follows the January news that Memphis, Tennessee-based FedEx would partner with Microsoft Corp. to apply the software firm’s cloud-based artificial intelligence (AI) tools to FedEx’ records on the 17 million packages that pass through its delivery network each day. That deal was intended to create a “logistics as a service” product that could improve commerce experiences for businesses.

By investing in Chicago-based FourKites, FedEx sees a chance to find additional insights in its own data—combined with the 2.5 million daily shipments supported by FourKites’ visibility network—and sell those as a cloud-based service to businesses that are looking to solve their supply chain challenges, become more efficient, and unlock new growth opportunities.

FourKites declined to disclose the amount of FedEx’ investment, but said the new “FourKites X” platform will exist as a standalone, software as a service (SaaS) solution that customers can purchase. More specifically, the collaboration is intended to “make supply chains smarter” by bringing improved visibility into multi-modal and multi-carrier operations, the company said.

“If the last two years have taught us anything, it’s that companies need to work together in order to work smarter and faster,” Sriram Krishnasamy, CEO of FedEx Dataworks, said in a release. “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.”

FedEx created its Dataworks business unit in 2020 as an initiative to apply data science and machine learning tools in order to harness “the power of the rich FedEx data ecosystem to transform the digital and physical customer experience.”
 
 

Through our new strategic investment from @FedEx, FourKites is proud to announce the release of FourKites X, designed to give large shippers and logistics providers new tools to help them mitigate the impacts of sustained supply chain challenges.#global #transportation pic.twitter.com/DQdHWobGYA

— FourKites (@FourKites) June 21, 2022
Parcel & Postal Carriers
KEYWORDS FedEx FourKites
  • Related Articles

    FourKites Launches New Tools to Increase Adoption of Supply Chain Visibility

    Global Brands Present Live on the Future of Supply Chain Digitization at FourKites Visibility 2022

    Supply chain leaders to Chart Future of Supply Chain Visibility at FourKites Visibility 2021

Benames
Ben Ames has spent 20 years as a journalist since starting out as a daily newspaper reporter in Pennsylvania in 1995. From 1999 forward, he has focused on business and technology reporting for a number of trade journals, beginning when he joined Design News and Modern Materials Handling magazines. Ames is author of the trail guide "Hiking Massachusetts" and is a graduate of the Columbia School of Journalism.

Recent Articles by Ben Ames

Jungheinrich buys Indiana warehouse automation vendor for $375 million

Shipping groups back bipartisan trucking overhaul bill

Walmart boosts investment in GoLocal delivery-as-a-service platform

You must login or register in order to post a comment.

Report Abusive Comment

Most Popular Articles

  • Outlook 2023: What’s in store for logistics/supply chain?

  • Ports, maritime operators see tide turning as ocean freight tsunami subsides

  • In Person: Steve Beverly of Penske

  • Fred Smith is not worried about Amazon

  • InPerson interview: Rob McKeel of Fortna

Now Playing on DCV-TV

89cfed30 8aac 4284 960d c8c8c1886e16

Have you checked your read rate lately?

DCV-TV 4: Viewer Contributed
No reads. Unaccounted for boxes. Boxes sent to the wrong place. A logistics nightmare! But this nightmare doesn’t have to come true. SICK’s linear line scan camera is what dreams are made of for your logistics operations. And if you’re worried about motion and vibration from conveyor belts...well, there’s no reason...

FEATURED WHITE PAPERS

  • The five best applications for robotic lift trucks in warehouse environments

  • Fulfillment Facility Improved Efficiencies by 4x

  • 3PLs: Complete Orders Faster with Flexible Automation

  • Reusable Packaging for the New Wave of Supply Chain Automation

View More

Subscribe to DC Velocity Magazine

GET YOUR FREE SUBSCRIPTION
  • SUBSCRIBE
  • NEWSLETTERS
  • ADVERTISING
  • CUSTOMER CARE
  • CONTACT
  • ABOUT
  • STAFF
  • PRIVACY POLICY

Copyright ©2023. All Rights ReservedDesign, CMS, Hosting & Web Development :: ePublishing