CHICAGO – FourKites is acquiring Vancouver, British Columbia-based TrackX Holdings Inc.’s yard management solutions.
The acquisition will allow the creation of a new integrated yard management solution, called Dynamic Yard, which will integrate FourKites’s real-time logistics data and predictive ETAs with TrackX’s yard management products.
FourKites has acquired TrackX’s yard management, dock management and gate control solutions.
These solutions serve the smallest facilities up to multiple enterprise locations. The solutions are hardware-agnostic and integrate 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 centres will have real-time access to live incoming truck arrival information so that they can better plan and optimize their operations.”
More than 400 of the world’s largest shippers and their carrier and broker partners use FourKites’s real-time supply chain visibility platform.
Because that includes nine of the top-10 consumer packaged goods companies and 18 of the top-20 food and beverage companies in the world, the system has access to a rich set of real-time supply chain data and predictive ETAs. Integrating this data 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 percent 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, 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 supply chain visibility to large enterprise customers.”