Data science breakthrough represents a supply chain visibility first, enabling highly accurate ETAs for 100% of air shipments
FourKites®, the world’s leading real-time supply chain visibility platform, today introduced its latest AI-powered innovation, Dynamic ETA® for Air. For the first time, shippers, carriers and 3PLs can track 100% of air freight with highly accurate and automated estimated times of arrival (ETAs). This unprecedented visibility into air freight means the supply chain can now have greater confidence in a mode of transport that is typically utilised for the most critical shipments, but that has been notoriously difficult to track. Real-time visibility into all air freight, with extremely accurate predictive ETAs, empowers supply chain partners to optimise downstream planning, reduce the time and expense of manual track-and-trace efforts, and increase customer satisfaction in the process.
“FourKites’ Dynamic ETA for Air has provided the visibility needed to help reduce turn times on urgent product requests for fulfilling critical customer orders, while also eliminating nearly 75% of shipment tracking email inquiries to our global logistics team,” said Kimberley Segel, Director of Global Transportation, Zebra Technologies. Shipping via air has been estimated to cost 4-5X that of road transport, and as much as 16X that of ocean, but it is indispensable for shippers’ most critical and/or time-sensitive freight, including pharmaceuticals and medical supplies, perishable agricultural and seafood products, emergency shipments of spare parts or simply goods for which customers demand the fastest delivery. In addition, brands are increasingly turning to air cargo to expedite freight as inventory delays continue to plague supply chains.
To date, however, air freight has been plagued by a lack of real-time visibility, due to the complexity of the global air network, as well as multiple stopovers and transfers of goods in hub airports. As a result, ETAs for air shipments have only been available 40% of the time and could be off by as much as two days, creating myriad downstream logistical and customer service issues. By leveraging the latest and most advanced machine learning algorithms and knowledge graphs, FourKites’ Dynamic ETA for Air provides ETAs on 100% of air freight, and is accurate to within 9 hours.
This unprecedented predictive visibility means businesses can expect to spend far less time and money resolving delays, thereby enhancing their customer experience. In fact, FourKites customers have experienced 2x higher customer satisfaction scores through their use of Dynamic ETA.
FourKites saw 97% growth in air loads tracked from 2020 to 2021. The platform now supports over 100 airlines and 17,000 airports, and has seen 40% growth quarter over quarter.
“When it comes to rapidly transporting critical goods, no other mode can compete with air,” said FourKites CEO and Founder Mathew Elenjickal. “Our announcement today of Dynamic ETA for Air means that shippers, carriers and 3PLs can now enjoy greater ROI — not to mention peace of mind — from their significant investments in this critical mode of transport.”