Old Dominion rolls out 3PL

Old Dominion rolls out 3PL

   Old Dominion Freight Line has started a third-party logistics services provider, called Vault Logistics.

   Vault, based in Thomasville, N.C., unites several business units within Old Dominion into an independent operating division that includes warehousing, business solutions, dedicated services (fleet and warehouse), and truckload brokerage units. Michael Venegoni, a 33-year veteran of the transportation and logistics industry, is Vault's president.

   'We surveyed transportation and logistics executives nationwide and found that fewer than one in five transportation managers are completely satisfied with their current 3PLs,' Venegoni said.

   'Too often, 3PLs act more like a vendor for their customers rather than a committed long-term partner, causing the relationship to fail,' he added. 'We take a different approach by listening to companies' needs and acting as a partner who can provide the innovative and customized solutions.'

   According to Old Dominion, Vault employees bring an average of 18 years' experience in supply chain management and services.