Customers can tap into the predictive private and dedicated fleet availability from the world’s largest shipper-focused tracking network
CHICAGO – FourKites, the leader in supply chain visibility and predictive analytics, today unveiled Predictive Capacity Management, a platform that automatically predicts the availability of private and dedicated fleet trucks and dynamically matches them to shipper demand. FourKites Predictive Capacity Management (PCM) becomes North America’s first commercialized platform for automatically and dynamically matching shipments that require transport with available capacity on nearby tractors moving toward similar destinations.
While matching freight to capacity is not a new concept, traditional matching technologies and load boards failed to proactively forecast truck availability, based on predictive data science, and ignored whether matches could feasibly be executed, based on real-time conditions, such as delays at stops, traffic congestion and disruptive weather events. FourKites is solving both of these issues with its tracking network and real-time data analytics.
FourKites PCM will enable shippers and carriers to optimize the efficiency of every mile by reducing empty space on trailers, producing cost efficiencies for shippers and carriers and enabling customers to receive products sooner. This predictive technology will use FourKites’ largest network of real-time tracking data to factor in the precise location of shipments in transit, where those shipments are heading, and when those shipments are estimated to arrive. A cutting-edge data science algorithm will populate matches in real-time between trailers with capacity and shipments awaiting transport. Shippers using FourKites PCM will have the option to accept or reject matches, in accordance with automation rules they establish.
“At a time when trucking capacity is at a record low and customer on-time delivery standards are hitting all-time highs, we are delivering a win-win solution for shippers, carriers and customers,” said Matt Elenjickal, FourKites founder and CEO. “FourKites Predictive Capacity Management will reduce the cost of shipping goods across North America by improving the industry’s net efficiency. We’re enabling companies to get products to market more quickly at lower overall operating costs.”
FourKites PCM will enable customers to spot backhaul capacity within their internal networks and to facilitate cross-shipper backhaul capacity sharing opportunities, surfacing matches between shippers and their respective carrier networks who have opted in to collaborate with each other.
FourKites PCM will operate as an intelligence offering available in addition to FourKites’ predictive tracking platform, which provides shipment arrival time predictions to the world’s largest customers based on GPS data updated every 15 minutes. FourKites operates across all transportation modes, including truckload and LTL, ocean, rail, intermodal, and parcel, and in all regions of the world. The company’s customer list includes AB InBev, Conagra Brands, Kraft Heinz, Nestlé, Perdue Foods, Smithfield Foods, Unilever, Walmart Canada and many others.
For more information on FourKites, visit https://www.fourkites.com
FourKites is the fastest-growing predictive supply chain platform, delivering real-time visibility and execution for the broadest network of Fortune 500 companies and third-party logistics firms. Using a proprietary algorithm to calculate shipment arrival times, FourKites enables customers to lower operating costs, improve on-time performance, and strengthen end-customer relationships. With a network of more than four million GPS/ELD devices, FourKites covers all modes including ocean, rail, parcel and over-the-road. The platform is optimized for mobile and equipped with market-leading end-to-end security. To learn more, visit https://www.fourkites.com.