FourKites, which operates a supply chain visibility platform, recently acquired TrackX Holdings’ yard management software in order to create Dynamic Yard, 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 be able to proactively manage yards and warehouses based on real-time signals from trucks in-transit and trucks on-site, the company said.
Specifically, FourKites acquired TrackX’s Yard Management, Dock Management and Gate Control solutions, which it says 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 boasts participation from more than 400 of the world’s largest shippers, and their carrier and broker partners, FourKites said. 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 a rich set of real-time supply chain data and predictive ETAs. Integrating this 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.” Further, “as transportation costs and capacity issues increase, yard management presents opportunities to improve operational efficiency through increased visibility and process optimization.”
“Today’s announcement represents a huge win for TrackX and FourKites customers,” said Tim Harvie, President and CEO of 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.”