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 … Owens Corning.
About Owens Corning
Owens Corning has been around since 1938. At the root of its business is glass fiber technology and that makes it one of the largest manufacturers of composite and building materials systems. Its finished products, such as roofing, find their way into numerous markets, including transportation, electronics, marine, infrastructure, wind energy and insulation.
New York Stock Exchange TickerOCHeadquartersToledo, Ohio2022 net sales$9.76 billion2022 net income$1.24 billionShipper of Choice historyFirst-time honoree
Why Owens Corning made the cut
Shipping may seem like a small part of a business at a Fortune 500 company, particularly one that has had that designation for almost 70 years. But it is important enough at Owens Corning that it has earned it a Shipper of Choice recognition by FreightWaves in 2023.
The nomination for Owens Corning to receive this honor came from a company that partners with it frequently but requested anonymity.
“The Owens Corning shipping department treats carriers as partners,” the nomination said. “Their team is committed to keeping carriers long-term by providing and welcoming feedback to ensure a smooth operation across the board.”
Reading the risk factors for any publicly traded company in its 10-K report can always be a little scary; the list is long and it almost makes one wonder how a company can get through the year without a catastrophe. Logistics activities showed up in Owens Corning’s list of risk factors, saying the company is vulnerable to “changes to tariffs or other import or export restrictions, penalties or sanctions, including modification or elimination of international agreements covering trade or investment” and “costs and availability of shipping and transportation.”
That acknowledgement within Owens Corning of the importance of transportation may be why the nominating form for the company as a Shipper of Choice summed things up with: “[The company does] not see shipping as a money-making/saving opportunity, but as one of the key factors to their great customer service. Retaining quality carriers is one of the driving forces behind this. We are proud to be a loyal, long-term carrier partner for this fantastic company.”
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 the parent bank and can provide liquidity and cash flow visibility.
TriumphPay is a division of Triumph Financial, Inc. (NASDAQ: TFIN).
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