FedEx invests in FourKites to build intelligent supply chain platform

FedEx Corp. (NYSE: FDX) and Chicago-based supply chain visibility provider FourKites have partnered to build a global supply chain intelligence platform, the companies announced Tuesday. Under the agreement, FedEx has invested an undisclosed amount in FourKites.

The new platform, FourKites X, will aim to help large shippers and logistics providers with features like dynamic planning, real-time visibility, proactive alerts and supply chain optimization insights. FourKites customers will be able to integrate the platform with their existing systems…

FourKites and FedEx cited an array of global disruptions as the catalyst for the partnership, namely port congestion, ongoing geopolitical issues and the COVID-19 pandemic. Those factors and others have contributed to a supply chain bullwhip that’s left retailers with their hands full after enduring months of inventory shortages.