FourKites Extends its Leadership Position in the Supply Chain Visibility Market with Strong Growth and Innovation in APAC
Specifically in Asia-Pacific, the company realized 91% growth in new customers in the region, and more than 240% growth in shipments tracked across 46 APAC countries.
CHENNAI, India, Dec. 19, 2022 (GLOBE NEWSWIRE) -- Leading supply chain visibility company FourKites today announced strong global growth in 2022, as the company executed on its vision for automated, interconnected and collaborative supply chains that span transportation, warehouses, stores, trucks and more. Specifically in Asia-Pacific, the company realized 91% growth in new customers in the region, and more than 240% growth in shipments tracked across 46 APAC countries.
Among the new customers who are using FourKites to transform their supply chains are Mitsui & Co. Global Logistics, Ltd, Nestlé Japan, Chevron Corporation, Kraft Heinz, SpaceX, Molson Coors, Bacardi and QVC — further validating Gartner’s ranking of FourKites as a Leader in the 2022 Gartner® Magic Quadrant™ for Real-time Transportation Visibility Solutions, and the visibility provider of choice for customers with the most complex supply chain needs.1
Globally, FourKites recorded nearly 50% year-over-year growth, as it continues to connect the supply chains of 50% of the Fortune 500. In 2022 in the APAC region, FourKites achieved:
- 240% growth in total shipments
- 91% growth in new customers
- 146% growth in the number of carriers tracking loads
- 1.8B+ miles tracked
- 30% growth in the number of regional ports tracked, now totaling 282 ports
- 486% growth in the number of facilities tracked, now totaling 14K facilities
- Live OTR tracking throughout Australia, New Zealand, India, Thailand, Taiwan, Philippines, Singapore and Malaysia, with near-term expansion into additional countries in the region
Industry giants back FourKites’ long-term vision of supply chain transformation
In addition to strategic investments in 2021 from industry heavyweights Qualcomm Ventures, LLC, Volvo Group Venture Capital AB and Zebra Technologies, over the past year, FourKites inked strategic partnerships with a number of industry titans to continue executing on its bold vision for the future of digital supply chains. These companies include FedEx, Quiet Platforms, Mitsui & Co., Ltd., Sony, Microsoft and Narvar. The real-time supply chain visibility pioneer was also recognized for its industry leadership and ongoing innovation by Gartner, SupplyChainBrain, Blue Yonder, Builtin Chicago, Manhattan Associates and Food Shippers of America.
FourKites is leveraging Mitsui’s $10M strategic investment to expand its offerings across the APAC region. The strategic relationship, which will initially focus on Japan, will deliver hyper-localized solutions for the APAC market, while boosting FourKites’ capabilities across sales, customer service and operations.
“We are excited to partner with FourKites to bring improved supply chain visibility and efficiency to operations in all industries and all countries throughout APAC,” said John Kenichi Kogiku, General Manager of Digital Solution Business Division at Mitsui. “FourKites and Mitsui share a culture of innovation, integrity and collaboration, and a broader vision for transforming global supply chains. We are looking forward to working with FourKites to achieve our mutual goals through digitization and automation.”
"Companies throughout APAC are making significant investments in supply chain transformation," said FourKites founder and CEO Mathew Elenjickal. "In 2023, we look forward to helping our APAC customers take the next leap forward in their logistics operations, expanding their insight further into their network and at the SKU level. Together, we will build a more resilient and agile supply chain."
Unique customer collaboration model continues to deliver industry-first innovations
Close collaboration with customers has been the bedrock of FourKites’ product development since the company’s inception. More than nine out of 10 FourKites customers are active contributors to the company’s IdeaExchange, and FourKites’ Innovation Partner program has generated more than 200 product enhancements from more than 70 companies, including Andersen Corporation, Canfor, Cardinal Health, Henkel, Kimberly-Clark, Smithfield and Sprouts Farmers Market, among others.
New solutions released in 2022 include:
- New detention & demurrage capabilities to help shippers more quickly and proactively identify potential detention and demurrage fees; prioritize exceptions according to likely business impact; and proactively adjust carriers, lanes or other factors as necessary.
- “FourKites’ automated reporting and tracking for ocean provides more accurate and real-time data, which allows Canfor to respond to customer inquiries quicker with up-to-date information on our upcoming shipments that would have otherwise had to be manually tracked.” — Bob Hayes, Vice President of Global Supply Chain at Canfor
- Patented ocean shipment innovations that provide international shippers and their partners with complete visibility into all of the complex documentation requirements at every leg of every ocean shipment.
- A Net Zero initiative to help companies reduce supply chain emissions, including FourKites’ Sustainability Hub, a suite of analytics tools to provide better visibility into resource consumption and waste generation; a new Sustainability Advisory Board; and ongoing original research around sustainability.
- “To track emissions and to evaluate how we’re performing — it all relies on data. And that’s a place where we’ve been thrilled with our partnership with FourKites, because without it, we would not have the critical data we need to operate well.” — Karen Betancourt, Vice President of Logistics at Cardinal Health
- A new unified customer interface that integrates real-time transportation visibility and facility-specific data across all modes.
- “FourKites continues to excel and impress me with their ability to deliver tools that are useful and support our account in a way that is customer first. In working with them, they have been able to roll out coverage in multiple countries, manage the work, and enhance their tool along the way. I’m very impressed with their product and the agility in delivery.” — Logistics Strategy Analyst, Manufacturing
- “FourKites continues to excel and impress me with their ability to deliver tools that are useful and support our account in a way that is customer first. In working with them, they have been able to roll out coverage in multiple countries, manage the work, and enhance their tool along the way. I’m very impressed with their product and the agility in delivery.” — Logistics Strategy Analyst, Manufacturing
About FourKites
Leading supply chain visibility platform FourKites® extends visibility beyond transportation into yards, warehouses, stores and beyond. Tracking more than 3 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 digitise their end-to-end supply chains. More than 1,200 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/.
Media Contact:
Marianna Vyridi
Big Valley Marketing for FourKites
+1 (650) 468-3263
[email protected]
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/0ace1aaf-f9f8-4da4-b789-bf26126621db
1 Gartner, Critical Capabilities for Real-Time Transportation Visibility Platforms, Carly West, 24 May 2022.
