CHICAGO, March 25, 2020 (GLOBE NEWSWIRE) -- FourKites®, the market-leading supply chain visibility platform, today announced that it is acquiring TrackX Holdings Inc.’s (TSX.V:TKX | OTC: TKXHF | FSE :3TH) yard management solutions in order to create Dynamic YardSM, a new supply chain visibility solution that extends real-time visibility into the yard. By integrating FourKites real-time logistics data and predictive ETAs with TrackX’s leading yard management products, enterprises will - for the first time - be able to proactively manage yards and warehouses based on real-time signals from trucks in-transit and trucks on-site.
Specifically, FourKites has acquired TrackX’s Yard Management, Dock Management and Gate Control solutions. These solutions are highly scalable, serving the smallest facilities up to multiple enterprise locations. The solutions are hardware-agnostic and integrate seamlessly with ERP and WMS systems, as well as RFID and IoT sensors.
“Real-time in-transit data, integrated with real-time yard data, will revolutionize how enterprises manage warehouse and yard activities,” said FourKites CEO Mathew Elenjickal. “We are thrilled to combine TrackX’s yard technology with our real-time visibility platform to create Dynamic Yard. For the first time, yards and distribution centers will have real-time access to live incoming truck arrival information so that they can better plan and optimize their operations. FourKites’ Dynamic Yard will forever change the industry by bringing much-needed transparency and efficiency to shippers, carriers that operate large trailer pools, and marine terminals, alike.”
FourKites’ real-time supply chain visibility platform is the industry’s largest, with participation from more than 400 of the world’s largest shippers and their carrier and broker partners. That includes nine of the top-10 consumer packaged goods companies and 18 of the top-20 food and beverage companies in the world, yielding the industry’s richest set of real-time supply chain data and predictive ETAs. Integrating this rich data set with previously siloed yard management systems will allow facility managers to anticipate bottlenecks, accelerate gate-in and gate-out processes, shorten on-site time for drivers and optimize inventory across multiple sites - reducing dwell times and increasing operating margins to the benefit of everyone in the supply chain.
According to Gartner, “Visibility continues to be one of the top technologies supply chain end users invest in. By 2023, 50% of global leading enterprises will have invested in real-time transportation visibility solutions.”1 Further, “as transportation costs and capacity issues increase, yard management presents opportunities to improve operational efficiency through increased visibility and process optimization.”2
“Today’s announcement represents a huge win for TrackX and FourKites customers,” said Tim Harvie, President & CEO, TrackX. “The ability to proactively manage facilities based on what’s happening in real time on the road is the next logical step in extending actionable supply chain visibility to large enterprise customers and driving additional value within their yard environments. FourKites created the real-time supply chain visibility category, built the world’s largest network of global shippers, and now extends its industry-leading transportation data to the yard. We look forward to seeing the value of Dynamic Yard come to bear in the market.”
1 Gartner “Market Guide for Real-Time Transportation Visibility Platforms,” Bart De Muynck, 25 February 2020
2 Gartner “Market Guide for Yard Management,” Bart De Muynck, Simon Tunstal, 30 January 2019
About FourKites
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 that spans millions of GPS/ELD devices, FourKites covers all modes, including truckload, LTL, ocean, rail, intermodal and parcel. The platform is optimized for mobile and equipped with market-leading end-to-end security.
To learn more, visit https://www.fourkites.com.
About TrackX
TrackX Holdings, Inc., based in Denver, Colorado, is an enterprise asset management company deploying SaaS-based solutions leveraging multiple auto-ID and sensor technologies for the comprehensive tracking and management of physical assets. TrackX's Global Asset Management for Enterprises (GAME) platform enables the Industrial Internet of Things (IoT) by providing unique item level tracking, workflow processing, event management, alerting and powerful analytics to deliver solutions across a growing number of industries. TrackX delivers significant value to a growing list of Fortune 500 companies and for customers in industries such as transportation, beverage, brewery, healthcare, hi-tech, hospitality, mining, agriculture, horticulture, manufacturing and government.
FourKites Media Contact:
Marianna Vyridi
Big Valley Marketing for FourKites
(650) 468-3263
mvyridi@bigvalley.co