Vault Logistics unites several existing 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 Logistics' president.
Vault Logistics' full suite of offerings is designed to more effectively manage the supply chain process. While operating independently, the new division is built upon and backed by Old Dominion's more than 75 years of transportation and logistics expertise.
'Customers are asking for a broader range of solutions and innovations across increasingly complex and dynamic supply chains. The right solutions will drive efficiencies and contribute significantly to their bottom lines to grow their business,' said David Congdon, president and CEO of Old Dominion. 'Vault Logistics is a significant investment in our future and expansion of our capabilities to help our customers thrive in the new economy.'
The new division, based in Thomasville, N.C., will serve customers nationwide.
'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. 'They are looking for a partner whose services will accelerate their business growth. We have supply chain expertise, business-focused problem solving skills, proven technology and a track record of exceptional service.
'Too often, 3PLs act more like a vendor for their customers rather than a committed long-term partner, causing the relationship to fail,' Venegoni said. 'We take a different approach by listening to companies' needs and acting as a partner who can provide the innovative and customized solutions. While our customers know what's best for their businesses, we know how to offer the best logistical solutions ' and together we can help their businesses grow.'
