The logistics ecosystem is painfully aware of the inefficiencies caused by the under-utilization of existing assets and personnel. The first step to solving this problem is to analyze freight execution patterns and identify cost-saving opportunities to reduce empty miles.
CHICAGO (PRWEB) August 27, 2019
FourKites®, the leader in predictive supply chain visibility, today introduced a new capability to help supply chain stakeholders analyze historic lane patterns to identify better asset utilization opportunities. Lane Connect, now available as part of FourKites’ Predictive Capacity Management(SM) (PCM) suite, gives users the ability to evaluate their own networks for round trip opportunities, and partner with other users to find collaborative lanes that are mutually beneficial. Notably, Lane Connect is the first FourKites product that is available to all shippers - even those not currently using the FourKites platform. The company is offering free internal lane analysis through Lane Connect until August 31, 2020.
Land O’Lakes, Inc., one of America’s premier agribusiness and food companies, and a longtime FourKites customer, is implementing the entire PCM suite, starting with Lane Connect, to identify lane-sharing opportunities across its network and the networks of key partners. “Lane Connect is giving us the invaluable ability to collaborate with other grocery manufacturers and food retailers who share common lanes,” said Yone Dewberry, Chief Supply Chain Officer at Land O’Lakes, Inc. “That translates into higher utilization and better cost management, and helps ensure that we’re collaborating with carriers to keep trucks moving.”
FourKites’ Lane Connect is democratizing advanced machine learning optimization algorithms for the purpose of maximizing efficiency and utilization across shippers’ end-to-end supply chain by removing empty miles. In addition, shippers with different operating divisions working in siloes or through acquisitions can use Lane Connect to identify efficient transportation opportunities based on their overall network, rather than individual needs. FourKites is also expanding functionality to serve carrier and broker needs soon.
“The logistics ecosystem is painfully aware of the inefficiencies caused by the under-utilization of existing assets and personnel,” said Mathew Elenjickal, FourKites’ founder and CEO. “The first step to solving this problem is to analyze freight execution patterns and identify cost-saving opportunities to reduce empty miles. With Lane Connect, all parties in the logistics ecosystem can take advantage of the opportunities that are hiding in their own freight environment.”
Since launching five years ago, FourKites has pioneered the application of predictive visibility to various aspects of supply chain, enabling customers to improve on-time delivery and optimize their operations based on actionable data and predictive intelligence. With a network that now includes more than 260 of the world’s top shippers, and tracking more than 600,000 shipments every day, FourKites is leading the evolution of traditional supply chain into a modern connected ecosystem, all built on a foundation of real-time data.
FourKites, PCM and Lane Connect are service marks of FourKites, Inc.
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. With a network of more than four million GPS/ELD devices, FourKites covers all modes, including truckload, LTL, ocean, rail, intermodal, last mile and parcel. The platform is optimized for mobile and equipped with market-leading end-to-end security.
To learn more, visit http://www.fourkites.com.