FourKites®, a provider of supply chain visibility solutions, has announced several enhancements to Dynamic Ocean ®, its next-generation maritime visibility solution. By improving the context, clarity, and control of each maritime shipment, these new features assist FourKites users worldwide in mitigating disruptions, including conflicts in the Red Sea and low water levels in the Panama Canal. The enhancements also help in reducing costly expenses such as demurrage and avoidable detention fees, ultimately exceeding customer expectations.
Integrating FourKites’ ocean visibility into our tech stack was an obvious and highly rewarding choice,” says Davide Busato, Head of Innovation Project at Barilla’s Logistics Competence Center. “We no longer need to spend time searching for answers, allowing us to focus on more critical tasks, such as leveraging FourKites data to enhance customer satisfaction.”
Dynamic Ocean utilizes multi-layered data to provide a robust, reliable, and continuous end-to-end supply chain overview. The latest FourKites versions enable supply chain managers to swiftly make informed decisions during unexpected disruptions.
Key enhancements to Dynamic Ocean include:
- Improved dynamic ETA and ETD with over 95% accuracy for final destination ETA, over 90% accuracy for ship arrival terminal forecasts, and synchronized ETA/ETD for multiple shipments on the same vessel. FourKites’ ETAs are on average 27-37% more accurate than carrier estimates.
- Enhanced data quality and latency, delivering 85% of events within 8 hours, 35% faster than industry standards. FourKites’ visibility and ETAs are based on resilient multi-layered data, providing clients with a robust end-to-end supply chain insight.
- Earlier and more accurate alerts to proactively identify exceptions, containers incurring demurrage and detention fees, reducing risks, minimizing costs, and increasing customer satisfaction.
- A seamless end-to-end user interface eliminating silos for international teams to avoid fines and fees, ensure smoother transfers with collaborators, and enhance customer satisfaction.
With these updates, FourKites clients can continue to eliminate unnecessary costs and waste in their supply chain.
“Our goals with FourKites in 2024 are to track 90% of our shipments, reduce penalties with carriers by 5%, and decrease inefficient communications with partners by 10-15%,” adds Davide Busato. “Thanks to FourKites’ ability to automatically send ETAs with delay information, among other features, we are on track to achieve these targets.”
FourKites’ new maritime features also include an enhanced dashboard for demurrage and detention, along with analytics to help clients reduce delay-related penalties, manage carrier performance, and analyze costs and service levels by route. Real-time visibility of incoming stocks further allows businesses to optimize safety stock and working capital, accelerate inventory turnover, and satisfy customers through improved visibility of order processing, execution, billing, and cash collection.
These improvements build on FourKites’ rich supply chain data, including schedules for over 11,000 sea routes, data and integrations from over 100 carriers and 3,000 services. FourKites also provides detailed data on port tracking and congestion in over 150 major global maritime terminals.
“In the face of military conflicts in the Red Sea, storms, and supply shortages, end-to-end visibility is crucial for the resilience of maritime supply chains. And when disruptions occur, every minute counts,” says Priya Rajagopalan, Director of Products at FourKites. “With the enhancements to ocean visibility, FourKites enables cross-functional teams to access real-time data and information they need on the supply chain, helping them seamlessly integrate their international supply chain and satisfy their customers.
The updates to FourKites Dynamic Ocean are available starting today. For more information, visit https://www.fourkites.com/platform/ocean-freight-visibility/.
About FourKites
FourKites®, the leading global supply chain visibility platform, extends visibility beyond transportation to job sites, warehouses, stores, and beyond. Tracking over 3.2 million shipments daily across road, rail, ocean, air, parcel, and last-mile traffic, reaching over 200 countries and territories, FourKites combines real-time data and powerful machine learning to help businesses digitize their end-to-end supply chains. Over 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 operations and create more agile, efficient, and sustainable supply chains. For more information, visit https://www.fourkites.com/.
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