Earning a ground-breaking patent for a supply chain visibility software platform, FourKites leverages cutting-edge AI and data science to provide highly accurate and frequent ETAs, even for untrackable loads
India, FourKites®, the world’s leading real-time supply chain visibility platform, has been awarded a patent for its Smart Forecasted Arrival (SFA) capabilities, which provide companies with highly frequent and accurate ETAs for freight in transit — even when that truck lacks any technology to transmit location data.
While companies worldwide accelerate their investments in real-time transportation visibility platforms to better track and manage their freight in transit, they have been hindered by the portion of loads that previously couldn’t be tracked, which is mainly due to the lack of electronic logging devices (ELD) onboard, errors in asset assignments or carrier compliance issues. SFA – Smart Forecasted Arrival (SFA), solves this long-standing problem by applying cutting-edge Deep Learning techniques to the industry’s largest supply chain data network.
SFA is able to estimate the location of freight in transit based on other signals and data in the network, ultimately providing ETAs on 97% of untracked loads with 85% accuracy. The system correctly predicts late loads more than 90% of the time. This further strengthens FourKites Tracking Quality Guarantee, which establishes the highest standards in supply chain data quality across all modes. SFA removes blind spots and compensates for poor-quality or even a complete lack of tracking data. Its breakthrough capabilities are underpinned by the unrivaled breadth and sophistication of FourKites’ platform, which tracks 70 billion miles across 275,000 distinct stops, and churns out 1 billion ETAs each year. FourKites’ continued track record of industry-first innovations help companies reduce fines and lower inventory, maximize productivity, drive operational efficiencies and improve customer service.
Commenting on the occasion, Mr. Mathew Elenjickal, CEO and Founder of FourKites, said, “Smart Forecasted Arrival is a much-needed breakthrough for the real-time transportation visibility software category, and a perfect illustration of the unique power of the FourKites. Thanks to our first-mover advantage, we have the densest shipper ecosystem in the entire world, creating the most robust and highest-quality visibility data set. Paired with our unmatched investment in our world-class data science team, we are years ahead of our competitors in offering these kinds of leapfrog capabilities to the market. Starting today, FourKites customers can get frequent and highly accurate ETAs on every single load.”
Smart Forecasted Arrival is available immediately to all FourKites customers. For more information, contact FourKites. You can also visit the Virtual End-to-End Supply Chain Optimization Summit to hear about how the world’s most successful brands are leveraging new technologies to enable end-to-end multimodal visibility and create a more autonomous and intelligent supply network.
About FourKites
FourKites® is the #1 supply chain visibility platform in the world, extending visibility beyond transportation into yards, warehouses, stores and beyond. Tracking more than 2.5 million shipments daily across road, rail, ocean, air, parcel and courier, and reaching over 185 countries, FourKites combines real-time data and powerful machine learning to help companies digitize their end-to-end supply chains. More than 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/.
This article was shared with Prittle Prattle News as a Press Release.
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