Supply Chain
FourKites | September 20, 2023
FourKites, a leading supply chain visibility provider, has introduced a groundbreaking innovation in Fin AI, a natural language interface poised to transform supply chain management. This revolutionary technology empowers customers to unearth hidden insights, optimize operations, and streamline time-consuming tasks, such as event impact assessment across their shipment network. By harnessing the extensive supply chain data network, Fin AI significantly shifts from reactive to proactive decision-making, offering automated supply chain orchestration at scale.
Mathew Joseph Elenjickal, Founder and CEO of FourKites, said,
“FourKites is proud to be building at the leading edge of supply chain data and AI.”
[Source – Business Wire]
The company provides customers with a more comprehensive range of actionable insights across supply chains with Fin AI. Mathew added that this would empower the company to concentrate on the information and decisions and drive businesses forward. Additionally, over time, automation through Fin AI would serve as a direct extension of the capabilities of those who used it.
Supply chain managers face the challenge of navigating complex data silos and managing tasks efficiently. FourKites recognizes these hurdles and responds with Fin AI, designed to empower professionals with actionable insights, event impact assessments, and the ability to address tracking issues promptly. Leveraging generative artificial intelligence, this innovation paves the way for a paradigm shift in supply chain data exploration and decision-making. Focusing on real-time, data-driven choices, FourKites positions Fin AI as a transformative solution to industry challenges.
Fin AI's natural language interface, built on an industry-leading language model, draws on FourKites' extensive data network to provide users with the tools to:
Assess the impact of disruptive events on supply chain, allows to identify affected shipments and take remedial actions swiftly.
Diagnose tracking issues efficiently, enhancing visibility across their network.
Access product guidance spanning FourKites' suite and distill the most relevant insights into concise, actionable sentences.
FourKites combines powerful machine learning and real-time data to help companies digitize their end-to-end supply chains. More than 1,200 of the world's most recognized brands — 9 of the top-10 CPGs and 18 of the top-20 food and beverage companies — trust FourKites to transform their business and create more efficient, agile and sustainable supply chains.
About FourKites
FourKites, a globally acclaimed supply chain visibility platform, has set a new logistics and supply chain management standard. With a commitment to extending visibility throughout the entire supply chain, FourKites goes beyond mere transportation, encompassing yards, warehouses, stores, and beyond. This cutting-edge platform offers unparalleled insights, tracking over 3 million shipments daily and reaching over 200 countries and territories. FourKites leverages real-time data and advanced machine learning to empower businesses to digitally transform their end-to-end supply chains.
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Supply Chain
J.B. Hunt | September 22, 2023
J.B. Hunt to acquire BNSF Logistics' brokerage operations, expanding its logistics capabilities.
The acquisition builds on a 30-year partnership between J.B. Hunt and BNSF Railway.
Brad Hicks, EVP of J.B. Hunt, highlights the value proposition for customers and growth opportunities.
J.B. Hunt Transport Services, North America's supply chain solutions provider, has significantly expanded its capabilities. In collaboration with Burlington Northern Santa Fe, LLC, the company is making waves in the industry with the announcement of a definitive agreement. This agreement paves the way for the subsidiary, J.B. Hunt Transport, Inc., to acquire the brokerage operations of BNSF Logistics, LLC, a notable affiliate of BNSF Railway Company renowned for its comprehensive third-party logistics services, covering a wide spectrum, from full truckload and flatbed to temperature-controlled, drayage, expedited, and less-than-truckload services.
Katie Farmer, CEO and President of BNSF Railway, mentioned,
This agreement with J.B. Hunt reflects companies’ shared commitment to provide industry-leading intermodal service to the customers. This continues more than 30 years of partnership between BNSF and J.B. Hunt and builds on our announcement to further integrate our joint services.
[Source – Business Wire]
Additionally, BNSF Logistics also offers additional services such as warehousing, retail specialty, heavy-haul, and project services; however, these services are not part of the current transaction. This strategic move underscores J.B. Hunt's commitment to strengthening its logistics and supply chain position, enhancing its service offerings, and ultimately delivering greater value to its customers.
Executive Vice President of People and President of Highway Services at J.B. Hunt, Brad Hicks, expressed that BNSF Logistics has demonstrated impressive customer service across various customer sizes. He highlighted that this acquisition, combined with their outstanding intermodal and J.B. Hunt 360box power-only service offering, will create a compelling value proposition for customers, foster growth opportunities for J.B. Hunt, and enhance service capabilities for BNSF Logistics' employee and agent model.
In 1989, J.B. Hunt and BNSF Railway reshaped transportation with an innovative double-stack shipping solution, a pioneering concept that seamlessly combined rail and trucking services. In March 2022, these industry leaders initiated a collaborative effort to increase the intermodal sector's capacity significantly. This ongoing partnership builds upon a longstanding business relationship and shared strategic vision focused on delivering efficient, value-driven solutions to customers within the North American supply chain.
As the transaction concludes, the brokerage operations of BNSF Logistics will become integrated into J.B. Hunt's integrated capacity solutions for segment reporting purposes. The acquisition will be financed using J.B. Hunt's existing cash balance and is on track to be finalized by the end of the year. It's important to note that BNSF Logistics currently offers value-added 3PL services for BNSF Railway. Upon the transaction's completion, a long-term service agreement will be established between BNSF Railway and J.B. Hunt, ensuring the continued provision of these vital services by J.B. Hunt for BNSF Railway. This strategic alignment is set to bolster operational efficiency, elevate service quality, and further solidify the commitment of both entities to the North American supply chain.
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Supply Chain
Uber Freight | September 29, 2023
Today, during the company's annual customer conference that hosts nearly 300 of the world's largest shippers, Uber Freight announced the most comprehensive evolution of its logistics technologies designed to power the global movement of goods.
The news comes nearly two years after the $2.25B acquisition of the market's largest transportation management company Transplace, which partners directly with shippers to manage their logistics networks. Now, with $18B freight under management, the company is releasing for the first time a next generation of products that infuse Uber's advanced technology development capabilities, including AI-powered software. The strategic expansion of the business enabled Uber Freight to build a new kind of logistics company, one uniquely able to offer the kinds of comprehensive, end-to-end enterprise applications and services for the industry in an increasingly complex logistics landscape.
"The past couple of years have been transformative for our business, driving significant amounts of resources into delivering the next generation of technologies designed to power the global movement of goods," said Lior Ron, Founder and CEO of Uber Freight. "The focus on developing new enterprise solutions underpins our commitment to our strategic customer base and the industry at large as we drive to be the most comprehensive partner to advance logistics networks."
Uber Freight has made a deep investment in technology, with $120M invested since the acquisition that is focused heavily on scaling enterprise applications that span logistics software solutions, generative AI and data-enabled insights tools, as well as innovative capacity and mode expansions.
Reimagining logistics management with advanced software
Uber Freight is rolling out the most comprehensive update of the widely-used Uber Freight TMS since it was first launched by Transplace in 2005. The Uber Freight TMS is the all-in-one solution for planning, executing, and monitoring complex logistics operations across modes and regions, bringing shippers the time-tested expertise, Uber-grade technology, and high-quality service they need to drive their intelligent logistics forward. Initial upgrades focus on delivering a new standard of visibility, foresight, and control, "Uberizing" modules to promote ease of use and actionable data—all while expanding global, end-to-end shipment visibility across modes including rail, ocean, and air.
"When you have a supply chain that's expansive and complex as ours, cutting-edge technology isn't a nice-to-have—it's essential," said Randy Cooper, Director of Transportation at Del Monte Foods. "Our partnership with Uber Freight's managed transportation and innovative technology has become our secret sauce as we serve our customers."
Uber Freight is deepening its investment in software solutions with the launch of Uber Freight Exchange, a powerful new tool designed to meet the evolving needs of shippers and carriers by expediting freight procurement cycles and powering rapid shipment execution. Uber Freight Exchange is a neutral platform open to all shippers and carriers—a shipper can utilize Uber Freight Exchange to run auctions with their own carriers, in addition to Uber Freight's network of 100,000 carriers across the US. With integrated communication, simple bid functionality, and historical performance reporting, it enhances operational efficiency, fosters partnerships, and safeguards lane coverage risks in any market conditions.
Bringing the power of generative AI and machine learning to enterprise shippers
Uber Freight is unveiling Insights AI, a powerful generative-AI-powered insights tool that will transform decision making in logistics and support transportation teams from granular, tactical views to more complex, strategic analyses. Insights AI will leverage LLMs to generate and surface insights from Uber Freight's vast store of transportation data for customers.
Uber Freight is also leading the industry in the creation and application of AI and machine learning to drive network optimization and service improvements at scale with several new models rolled out recently, including a sophisticated ETA model, which, when combined with Uber Freight's Probability of Late Arrival (PLA) model, helps to drive automated 'self-healing' workflows to improve shipper service.
Expanding dynamic capacity and freight modes, across regions
Uber Freight has strategically grown the footprint of the Powerloop program to meet surging client demand for drop and hook and dedicated capacity solutions. The program has expanded operational scope from localized freight within Texas, California and Georgia, to regional and over the road freight stretching across several new states including Arizona, Utah, New Jersey, New York, Arkansas, Minnesota, Wisconsin, Illinois, Indiana, Ohio, Tennessee, Pennsylvania, Virginia, North Carolina, South Carolina, Florida, and Kentucky.
Uber Freight continues to gain ground as the most extensive autonomous freight network in North America with active partnerships with the leading developers and dozens of shippers moving autonomous loads on the network daily. In September, the company achieved a milestone of 100k autonomous miles driven with AV carriers on the network.
Uber Freight has expanded support across the North American cross-border supply chain. To meet a 20% increase in production from across the customer base, the company now has six cross-border locations between US and Mexico and over 1,000 team members throughout the region to support this tailwind.
Uber Freight also shared the extensive progress the business has made since the acquisition, including expanding its connected network of shippers and carriers to one of the largest in the world with 2 million drivers registered since the founding of the company, and dramatically advancing its sustainability impact, with an estimated 2.4 million empty miles eliminated from its network in the past year alone.
ABOUT UBER FREIGHT
Uber Freight is a market-leading enterprise technology company powering intelligent logistics. With a suite of end-to-end logistics applications, managed services and an expansive carrier network, Uber Freight advances supply chains and moves the world's goods. Today, the company manages over $18 billion of freight and has the largest network of carriers. It is backed by best-in-class investors including Greenbriar Equity Group and partnered with 1 in 3 Fortune 500 companies, including Del Monte Foods, Nestle, Anheuser-Busch InBev and more.
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