Correction: FourKites is sunsetting a portion of its document management solution Haven, not the entire platform, as an earlier version of this article stated.
Nine out of the top 10 consumer packaged goods companies rely on the same supply chain visibility platform — and it just got a major overhaul.
FourKites, a Chicago-based provider of supply chain visibility services, on Monday announced the release of a platform upgrade that improves data integration between the wider supply chain and individual facilities.
With the new enhancements, the platform now automatically synchronizes data between shipments in transit and orders waiting in the warehouse or yard. It connects the real-time, nationwide transportation data FourKites collects to the firm’s Appointment Manager and Dynamic Yard applications, which help operators manage shipments at the facility level.
“As we continue to drive innovation in the industry, we remain focused on maximizing usability and value for our customers,” said Matt Elenjickal, CEO and founder of FourKites. “Giving them the ability to see all of their data tightly integrated and automated in one platform, across all modes and geographies, is the best way to ensure ROI [return on investment].”
The updates to the platform open up a few new use cases for supply chain operators. For example, transportation managers can now use real-time, dynamically updated ETAs and appointment times to reprioritize their schedules in advance.
The benefits also extend to within the warehouse. Warehouse operators, for instance, no longer need to worry about checking freight in and out of the facility because they can use FourKites’ geofence technology to accurately track shipments as they enter the yard. Additionally, warehouse inventory planners are now given a full view of both on-hand and in-transit inventory, which can help them better plan production.
Watch: What was the goal for FourKites when expanding visibility?
The update to the platform comes amid a string of partnerships and acquisitions for FourKites. Since partnering with Tive in February 2021, the company has signed deals with Zebra Technologies, Narvar and FedEx, which also made a major strategic investment in the firm. It also made a pair of acquisitions, Haven and NIC-place, that have helped boost FourKites’ profile in both North America and Europe.
More recently, the company has encountered some bumps in the road. Earlier this month, it decided to sunset a portion of Haven’s document management platform, citing the unprofitability of that particular segment. Separately, the firm conducted a number of layoffs, Elenjickal confirmed with FreightWaves.