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Home » Old Dominion launches 3PL operation
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Old Dominion launches 3PL operation

August 2, 2011
Mark B. Solomon
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Less-than-truckload (LTL) carrier Old Dominion Freight Line Inc. announced late Monday it is launching a third-party logistics (3PL) unit to respond to customer demands for increasingly complex supply chain solutions.

The unit, Vault Logistics, will operate as an independent division within Old Dominion and also as a neutral third-party service provider, meaning it can use other carriers besides Old Dominion if customer needs warrant.

The unit is headed by Michael Venegoni, who joined Old Dominion in June 2010 after 12 years at YRC Worldwide Inc., where he left as group vice president. The unit will be based in Thomasville, N.C., Old Dominion's headquarters.

"Customers are asking for a broader range of solutions and innovations across increasingly complex and dynamic supply chains," said David Congdon, Old Dominion's president and CEO, in a statement. "Vault Logistics is a significant investment in our future and expansion of our capabilities to help our customers thrive in the new economy."

Venegoni said in the same statement that a company survey of logisticians nationwide found that only one in five were completely satisfied with their current 3PL provider. "Too often, 3PLs act more like a vendor for their customers rather than a committed long-term partner, causing the relationship to fail," he said.

Less-than-truckload (LTL) carrier Old Dominion Freight Line Inc. announced late Monday it is launching a third-party logistics (3PL) unit to respond to customer demands for increasingly complex supply chain solutions.

KEYWORDS Old Dominion Freight Line Vault Logistics YRC Worldwide
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Marksolomon
Mark Solomon joined DC VELOCITY as senior editor in August 2008, and was promoted to his current position on January 1, 2015. He has spent more than 30 years in the transportation, logistics and supply chain management fields as a journalist and public relations professional. From 1989 to 1994, he worked in Washington as a reporter for the Journal of Commerce, covering the aviation and trucking industries, the Department of Transportation, Congress and the U.S. Supreme Court. Prior to that, he worked for Traffic World for seven years in a similar role. From 1994 to 2008, Mr. Solomon ran Media-Based Solutions, a public relations firm based in Atlanta. He graduated in 1978 with a B.A. in journalism from The American University in Washington, D.C.

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