F&B shippers and carriers realize significant OTIF and dwell time improvements based on FourKites’ market-leading platform – even in the face of pandemic-related challenges
CHICAGO – June 9, 2020 – FourKites®, the #1 real-time supply chain visibility platform, today shared details about its momentum with the world’s leading F&B companies, who are increasingly leveraging FourKites’ superior network of logistics tracking data and proprietary machine learning technology to deliver essential products faster and more efficiently to their final destinations – even as COVID-19 sparked massive supply chain disruptions.
As of today, 18 of the top-20 global F&B companies – including Conagra, Coca-Cola, Constellation Brands, C&S Wholesale Grocers, Nestlé, Sysco, General Mills, Tyson Foods, Kraft Heinz, US Foods, Smithfield, Land O’Lakes, Cargill and Ferrero – rely on FourKites for data-driven insights and proactive risk management of their food and beverage shipments. In the last 12 months, F&B leaders have increasingly turned to FourKites for end-to-end supply chain visibility, with the platform having seen total F&B shipper customer growth of 23 percent; F&B carrier growth of 20 percent; and load count growth of nearly 50 percent.
By identifying late loads with high levels of precision and accuracy, FourKites’ F&B customers have been able to achieve significant improvements in cycle times for their sensitive freight. In the last year, FourKites’ F&B shippers increased on-time performance of their freight by 8 percent, while dwell time decreased by 7.5 percent, despite the significant challenges presented in recent months by COVID-19-related supply chain disruptions.
According to Gartner, “Many companies lack visibility of their shipments in transit. This lack of visibility results in instability, unpredictability, delays and poor customer service. Real-time transportation visibility platforms (RTTVPs) are growing rapidly in popularity and use in business today. These solutions provide real time visibility and alerts to customers for shipments in transit. Letting customers know where their freight is and when it will be delivered to them has become a key requirement from customers and consumers alike.” Major media including the Wall Street Journal and Forbes have written about the imperative for visibility solutions that can help the entire logistics industry better manage operations amid various supply chain disruptions.
Over the past 12 months, FourKites has introduced many industry-first innovations specifically designed for – and often in collaboration with – its F&B shipper and carrier customers, including:
The last year of innovation and momentum has translated into tangible improvements to key operational metrics for FourKites’ F&B customers. Smithfield’s on-time delivery rate increased from 87 percent to 94 percent thanks to FourKites’ predictive supply chain visibility. And C&S Wholesale’s customer service teams reported a 65 percent decrease in check calls in just three months after implementing the platform.
“This last year has been a time of unprecedented challenges, but also of unprecedented progress for the logistics community,” said FourKites CEO Mathew Elenjickal. “Even during this very trying time, our team has been able to work collaboratively with our F&B customers to achieve significant improvements in not only the transport and delivery of essential goods, but also to solve some of the longest-standing issues in supply chain, including dwell time, inventory management, overreliance on paper-based processes and unreliability of LTL shipments. There is a great deal more to come, but we have much to be proud of in terms of the gains we’ve made in the last 12 months.”
1Gartner “How to Assess the Benefits and Return on Investment of a Real-Time Transportation Visibility Platform,” Carly West, Bart De Muynck, 13 May 2020.