FourKites Launches Industry-First ETA Solution Air Freight: Dynamic ETA for Air
FourKites | June 25, 2021
FourKites, the world's leading real-time supply chain visibility platform, has announced Dynamic ETA for Air, its newest AI-powered innovation. Shippers, carriers, and 3PLs can now monitor 100% of air freight with exact and automated estimated arrival times for the first time (ETAs). Because of this unprecedented insight into air freight, the supply chain may now have more trust in a method of transport that is usually used for the most important goods yet has been notoriously difficult to monitor. With real-time insight into all air freight and highly precise predicted ETAs, supply chain partners can improve downstream planning, save the time and cost of manual track-and-trace operations, and enhance customer satisfaction.
Shipping by air is estimated to cost 4-5 times more than shipping by road and up to 16 times more than shipping by ocean. Still, it is essential for shippers' most critical and time-sensitive freight, such as pharmaceuticals and medical supplies, perishable agricultural and seafood products, emergency shipments of spare parts, or simply goods for which customers demand the quickest delivery. Furthermore, as inventory delays continue to plague supply chains, companies increasingly resort to air cargo to expedite freight.
However, due to the complexity of the global air network and numerous stopovers and transfers of products at major airports, a lack of real-time visibility has hampered air freight. Consequently, ETAs for air shipments have only been provided 40% of the time and maybe up to two days off, causing a slew of downstream logistical and customer service problems. FourKites' Dynamic ETA for Air delivers ETAs on 100% air freight and is accurate within 9 hours by using the most advanced machine learning algorithms and knowledge graphs.
Businesses may anticipate spending much less time and money addressing delays due to this unparalleled predictive insight, thus improving their customer experience. In addition, using Dynamic ETA has resulted in a 2x increase in customer satisfaction ratings for FourKites customers.
Between 2020 and 2021, FourKites saw a 97% increase in air loads. The platform currently serves over 100 airlines and 17,000 airports and has grown by 40% quarter on quarter.
FourKites is the world's leading supply chain visibility platform, expanding visibility beyond transportation into yards, warehouses, shops, and other locations. FourKites combines real-time data and powerful machine learning to help businesses automate their end-to-end supply chains, tracking over 2 million shipments daily across road, rail, ocean, air, parcel, and courier and reaching 176 countries. More than 500 of the world's most recognizable brands rely on FourKites to change their company and build more flexible, efficient, and sustainable supply chains, including nine top-10 CPG and 18 top-20 food and beverage companies.