Integrated offering empowers customers to manage bookings, documentation, tendering and gain real-time supply chain visibility for more comprehensive ocean freight management
Chicago, Ill. — April 3, 2024 — Leading real-time supply chain visibility platform FourKites® and BuyCo, a top-tier container shipping platform, today announced a strategic partnership to provide Fortune 500 shippers with comprehensive visibility and control throughout the entire container shipping process. This visibility spans both inland and ocean shipments, from initial planning and booking to real-time transportation visibility, carbon emissions control and inventory management.
Through this strategic partnership, FourKites and BuyCo are committed to helping high-volume shippers streamline their operations; build a more sustainable supply chain; and enhance the overall supply chain execution and customer experience through end-to-end digitization. The partnership between BuyCo and FourKites empowers shippers to leverage cutting-edge container visibility and management capabilities, positioning them as leaders in efficiency and service, while enhancing supply chain resilience amidst increasingly volatile and unpredictable market conditions.
“Ocean shipping is extremely complex, with numerous stakeholders and cumbersome documentation workflows that can account for upwards of 70% of detention and demurrage,” said Mathew Elenjickal, founder and CEO of FourKites. “Together with BuyCo, we are filling a significant gap in the industry, enabling shippers to efficiently manage all container shipping operations and gain real-time, end-to-end visibility in one integrated solution.”
With access to BuyCo’s extensive global network of ocean carriers, which covers 97% of global container flows, shippers can conveniently retrieve essential shipping schedules from their preferred carriers. They can then select the optimal route based on factors such as CO2 emissions, cost, estimated time of arrival (ETA) and allocations. This seamless booking process empowers shippers to save time and shift focus to higher-value tasks. BuyCo provides comprehensive support for all aspects of the shipping process, including issuing shipping instructions, declaring verified gross mass (VGM), managing documents and facilitating collaboration on shipments.
Simultaneously, FourKites offers unparalleled visibility by tracking inventory, shipments and orders. Using market-leading machine-learning and predictive intelligence, FourKites identifies hidden risks and inefficiencies across its entire network, helping businesses save money and serve their customers better. FourKites has the largest network of supply chain data on the planet, tracking over 3.2 million shipments daily, covering over 70 billion miles annually, and capturing 150+ unique data points at every geolocation update.
Carl Lauron, CEO of BuyCo, expressed his excitement, stating, “Our collaboration with FourKites marks a significant advancement in providing shippers with the necessary tools to get full visibility over the door-to-door container journey.”
About FourKites
Leading global supply chain visibility platform FourKites® empowers business leaders with comprehensive visibility into transportation, yards, warehouses, stores and beyond. Tracking more than 3.2 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 digitize their end-to-end supply chains. More than 1,500 of the world’s most recognized 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/.
About BuyCo
BuyCo develops a digital Container Shipping TMS. Designed for exporters and importers managing large volumes of containers, the SaaS platform connects ocean carriers, freight forwarders and all other shipment participants in a single place. By connecting stakeholders, automating day-to-day shipping tasks, and increasing visibility, BuyCo transforms container shipping to be more efficient, transparent and profitable. Learn more at www.buyco.co.
