President Joe Biden and the U.S. Department of Transportation announced the launch of a new supply chain initiative the administration is hoping will help speed up delivery times and ease costs for consumers.
A March 15 DOT news release announced the new Freight Logistics Optimization Works will reportedly pave the way for the timely exchange of information to different parts of the supply chain.
"FLOW is an information sharing initiative to pilot key freight information exchange between parts of the goods movement supply chain,” the release reported.
The initiative has 18 initial participants spanning the supply chain, including "private businesses, trucking, warehousing, logistics companies, ports and more," the release reported. These stakeholders will help develop an information exchange to assist with supply chain congestion, speed up good shipping and cut costs.
The plan has the public support of several industry leaders.
“We are honored to be recognized as a leader in supply chain management and asked to serve on this White House task force," said Chris Kempa, True Value Company CEO. "These have been exceptional times, and I’m very proud of the innovative solutions our entire operations, merchandising and inventory teams employed to get products to our retailers as quickly as possible.”
