- Uber Freight made FourKites’ list of the top logistics companies for the first time during the third quarter.
- To make the list, firms need to carry at least 300 loads for FourKites customers and earn high marks on how often and how well they keep shippers updated on the whereabouts of their cargo.
- FourKites has published the quarterly list since January 2019.
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Uber Freight made FourKites’ list of the best freight carriers, brokers, and third-party logistics firms during the third quarter, the first time the ride-hailing company’s logistics division has earned that designation.
To make the list, companies need to carry at least 300 loads for FourKites customers and have a “tracking consistency” rating of at least 75%. The tracking-consistency metric measures the frequency and quality of updates logistics firms give shippers on the movements of their cargo.
“From the start, Uber Freight has made it a priority to increase transparency in the freight industry, enabling shippers to effectively streamline operations, proactively manage exceptions and facility resources, and save time and costs across the supply chain,” Gony Noy, a general manager at Uber Freight, said in a press release.
FourKites, which operates a freight-tracking platform, started publishing its quarterly “premier carrier” list in January 2019. More than 250 firms, including XPO Logistics and Old Dominion Freight Line, landed a spot on the third-quarter list.
Cathy Roberson, the founder and president of the research firm Logistics Trends & Insights, told Business Insider that the coronavirus pandemic’s disruptions underscored how little visibility companies had into their supply chains, making FourKites’ service more attractive.
Uber Freight’s inclusion in the premier-carriers list may make the brokerage service more attractive to FourKites’ customers, Roberson said. But for companies that don’t use FourKites’ service, Uber will still have to beat competitors on price and delivery timing.
“When it comes down to it, it’s about the rate and the time,” she said.
Uber Freight launched in 2017. Though there was a sense early on that Uber was trying to muscle its way into the logistics business by undercutting other brokers’ prices, Roberson said Uber is now seen as a serious player in the industry.
Since launching, Uber Freight has coordinated shipments for customers like Procter & Gamble, LG, and Land O’Lakes. This month, Uber sold a $500 million stake in its logistics business to the private-equity firm Greenbriar Equity Group.
Are you a current or former Uber employee? Do you have an opinion about what it’s like to work there? Contact this reporter at [email protected], on Signal at 646-768-4712, or via his encrypted email address [email protected]
Axel Springer, Insider Inc.’s parent company, is an investor in Uber.