2023 Shipper of Choice profile: Kraft Heinz

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The Shipper of Choice award, presented by FreightWaves in partnership with TriumphPay, recognizes the manufacturers, distributors and retailers that do the best job of keeping the American economy moving by fighting driver detention, providing accessible facilities and understanding what it takes to remove inefficiencies from the supply chain.

Among the top 25 Shippers of Choice for 2023 is … The Kraft Heinz Co. (NASDAQ: KHC).

NASDAQ ticker: KHC
Headquarters: Pittsburgh and Chicago
2022 net sales: $26.5 billion
2022 net income: $2.4 billion
Shipper of Choice history: 2019, 2020, 2021, 2022
Table: Company reports

Why Kraft Heinz is a Shipper of Choice

Kraft Heinz in one of the largest food and beverage producers in the world. The company manufacturers consumables under numerous iconic brands ­— Oscar Mayer, Lunchables, Velveeta, Capri Sun, Maxwell House, Kool-Aid and Jell-O — out of nearly 80 manufacturing and processing sites worldwide. Its products are delivered to grocery shelves via an expansive domestic and international distribution network.

The company is working on a plan to generate $2.5 billion in supply chain efficiencies by 2027.

The initiatives include further automation, SKU rationalization and collaboration with suppliers. It is also using machine learning to further automate logistics operations. In addition, it will be opening a state-of-the-art distribution center in Chicago with advanced automation sometime in 2025. The technology at the site is expected to allow the company to double facility throughput when compared to some of its existing locations.

Like many producers and manufacturers, Kraft Heinz struggled with sourcing product during the pandemic. However, it has nearly caught up on prior supply chain constraints as it has seen case fill rates increase to 97% in the most recent quarter.

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The company’s prior investments have included initiatives aimed at reducing driver wait times at its facilities. Those programs included improving visibility into warehouse operations, expanding facility yard capabilities and autonomous trailer unloading.

About Shipper of Choice partner TriumphPay

TriumphPay is the transportation industry’s premier payment network, trusted by leading shippers, brokers, factors and carriers. Its innovative and highly automated fintech payment solution brings cost savings and efficiencies to antiquated transportation payment processes for network participants. Integrated financing options leverage the strength of TriumphPay’s parent bank and can provide liquidity and cash flow visibility.

TriumphPay is a division of Triumph Financial Inc. (NASDAQ: TFIN).

The post 2023 Shipper of Choice profile: Kraft Heinz appeared first on FreightWaves.

Source: freightwaves - 2023 Shipper of Choice profile: Kraft Heinz
Editor: Todd Maiden