Q4 2020 list showcases the criticality of real-time visibility for the modern supply chain
CHICAGO, January 12, 2021 — FourKites®, the #1 supply chain visibility platform, today announced the publication of its Premier Carrier List for the fourth quarter of 2020. The list showcases 382 carriers, brokers and 3PLs that have achieved the highest standards of visibility-related operational excellence, as demonstrated by their ability to provide high-quality, consistent, accurate data on the vast majority of their loads.
By following these best practices, Premier Carriers are providing their shipper customers and the broader supply chain ecosystem with the data that is indispensable to streamlining operations, increasing the speed of shipping dock turn times, reducing inventory levels and better managing labor costs. Now in its third year, the full Premier Carrier List is available only to FourKites customers, but a public-facing version can be found here.
The elite carriers included on FourKites’ Premier Carrier List hauled, on average, 20% more loads in Q4 2020 compared to the previous quarter, clocking 2.5 million loads in Q4. Notably, 119 carriers have now made the list for more than four consecutive quarters, while 28 have qualified for Premier status every quarter since the inception of the program.
“Visibility has become increasingly critical given the supply chain challenges of 2020. The FourKites Premier Carrier List highlights carriers that have truly made visibility a priority during these unprecedented times,” said Bill Kropf, Vice President of Client Management at Capstone Logistics. “At Capstone, we’ve made visibility part of our DNA because we understand the end-to-end value it brings to our partners, and ultimately to their customers. We are excited to do our part in reducing supply chain waste.”
In order to be included on the Premier Carrier List, carriers must demonstrate their operational excellence by meeting a set of stringent qualifications. FourKites’ consistency metric evaluates both the number of location updates on a given load and the quality of those updates. To qualify, Premier Carriers must track with 75% consistency. Compared to non-premier carriers, Premier Carriers, on average, achieve 30% better on-time delivery performance, manage over 2 million pieces of equipment and see 15% annual growth in load volume.
The Premier Carrier List is also an indispensable tool for shippers. “At a time when visibility has never been more integral to the on-time delivery of our shipments, FourKites’ Premier Carrier List continues to be a valuable asset, helping us select the carriers that are as committed to data transparency as we are,” said Jeff Covington, Supply Chain Manager, Smithfield Foods. “Being able to easily identify carriers that are executing at the highest levels of service is critical to helping us remain agile through these turbulent times.”
“FourKites continues to see unprecedented growth in the number of global carriers and freight forwarders using our platform,” said Jason Eversole, Vice President of Carrier Operations at FourKites. “We remain committed to continuing to provide both shippers and carriers with the tools and resources they need to collaborate and cement deeper partnerships. And as we continue to introduce tools that expand the reach of supply chain visibility, including our automated yard management platform, Dynamic YardSM, carriers that provide high-quality visibility data will see dramatically reduced wait times.”
FourKites is the largest predictive supply chain visibility platform, delivering real-time visibility and predictive analytics for the broadest network of Global 1000 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. FourKites’ network spans millions of GPS/ELD devices in 176+ countries and covers all modes, including truckload, LTL, ocean, rail, air, intermodal, courier and parcel, and extends real-time visibility into the yard. FourKites has 1 million loads and over $100 billion in freight under management at any given time. The platform is optimized for mobile and equipped with market-leading end-to-end security.
To learn more, visit https://www.fourkites.com/.