{"id":28446,"date":"2022-06-21T21:07:28","date_gmt":"2022-06-21T16:07:28","guid":{"rendered":"https:\/\/pr.asianetpakistan.com\/?p=93695"},"modified":"2022-06-21T21:07:28","modified_gmt":"2022-06-21T16:07:28","slug":"fedex-and-fourkites-announce-alliance-to-make-supply-chains-work-smarter","status":"publish","type":"post","link":"https:\/\/myanmarnewsgazette.com\/fedex-and-fourkites-announce-alliance-to-make-supply-chains-work-smarter\/","title":{"rendered":"FedEx and FourKites Announce Alliance to Make Supply Chains Work Smarter"},"content":{"rendered":"

FedEx makes a strategic investment in FourKites, which FourKites will leverage to develop FourKites X to help transform global supply chains with volumes of data insights from both companies\u2019 networks<\/h4>\n
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FedEx and FourKites Announce Alliance<\/h5>\n<\/div>\n
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FourKites to develop FourKites X with strategic investment from FedEx<\/p>\n<\/div>\n<\/div>\n

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CHICAGO and MEMPHIS, Tenn., June 21, 2022 (GLOBE NEWSWIRE) — FedEx Corp. (NYSE: FDX) and supply chain visibility company\u00a0FourKites<\/u><\/a>\u00a0today announced a strategic alliance that will provide 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. Events like the COVID-19 pandemic, ongoing geopolitical issues, port congestion, and other global disruptions have revealed the complexities in keeping interconnected supply chains around the world up and running. FedEx and FourKites are collaborating to make supply chains smarter by bringing comprehensive and highly granular visibility into multi-modal and multi-carrier operations with the deep network and rich insights of their combined networks.<\/p>\n<\/div>\n<\/div>\n

FourKites\u2019 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 \u2013 which reaches more than 220 countries and territories, linking more than 99 percent of the world\u2019s GDP, through more than 16.5 million shipments daily \u2013 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.<\/p>\n

To support this alliance and the launch of FourKites X, FedEx has made a strategic investment in FourKites.<\/p>\n

\u201cThis is an exciting collaboration between two industry leaders and innovators coming together to unlock new opportunities for our customers,\u201d said Sriram Krishnasamy, CEO, FedEx Dataworks. \u201cIf the last two years have taught us anything, it\u2019s 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\u2019s unpredictable and complex business environment.\u201d<\/p>\n

\u201cWe are excited to announce this groundbreaking platform and strategic collaboration with FedEx,\u201d said Mathew Elenjickal, FourKites Founder & CEO. \u201cOur 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.\u201d<\/p>\n

FourKites X \u2013 A Complete Picture of Global Supply Chain Operations<\/strong><\/p>\n

FedEx Dataworks, a business unit in FedEx focused on making supply chains smarter through a powerful data science approach and machine learning capabilities, will support FourKites\u2019 development of the new platform, FourKites X, that will help give customers deeper actionable insights, more accurate ETAs, and more intelligent supply chains to reduce supply chain volatility, and improve top-line growth.<\/p>\n

The platform is being designed to help large shippers and logistics providers identify areas of opportunity, such as:<\/p>\n