The Shipper of Alternative award, presented by FreightWaves in partnership with TriumphPay, recognizes the manufacturers, distributors and retailers that do one of 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 availability chain.
Among the many top 25 Shippers of Alternative for 2023 is … Lowe’s.
Lowe’s is the second-largest home-improvement retailer in America, with over 1,700 stores and about 300,000 employees. It handles around 17,000 transactions every week. Lowe’s is one among the oldest home-improvement chains within the country, founded in 1921 by Lucius Smith Lowe in North Wilkesboro, North Carolina.
Recent York Stock Exchange ticker | LOW |
Headquarters | Mooresville, North Carolina |
FY 2022 net sales | $97.1 billion |
FY 2022 net income | $6.4 billion |
Shipper of Alternative history | 2021, 2022, 2023 |
Why Lowe’s is a Shipper of Alternative
Those that nominated Lowe’s as a 2023 Shipper of Alternative said that truckers find it friendly to work with and that it responds quickly to truckers’ needs. They said that Lowe’s garners high respect from its carrier base and proactively communicates with truckers.
The corporate has a really large trucking footprint within the U.S. — a footprint that’s within the midst of a significant transformation.
In December 2021, CEO Marvin Ellison outlined the brand new “market delivery” model that was replacing the legacy “store delivery” model. The legacy model was “tremendously inefficient,” said Ellison. Bulk items like appliances were held in store stockrooms and containers behind the stores. Store-based trucks delivered to customers’ homes. Customers could only purchase inventory that was at the shop of their area.
Under the market delivery model, larger items “flow directly from the availability chain to the shoppers’ homes without ever flowing through the shop,” said Ellison.
Through the company’s latest quarterly call, on May 23, Ellison gave a progress report. “In supply chain, we proceed to roll out our market delivery model, bringing us to 12 geographic regions across the country supporting greater than 1,100 stores.
“This more efficient model of delivering big and ponderous products is already enabling us to speed up our market share gains in appliances and can enable future growth in other categories. We remain on schedule to have market delivery rolled out by the top of 2023.”
About Shipper of Alternative partner TriumphPay
![](https://www.freightwaves.com/wp-content/uploads/2023/08/03/Triumphpayjpg-1200x332.jpg)
TriumphPay is the transportation industry’s premier payment network, trusted by leading shippers, brokers, aspects and carriers. Its revolutionary 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 may provide liquidity and money flow visibility.
TriumphPay is a division of TBK Bank, SSB, Member FDIC, and a member of the Triumph Bancorp Inc. (NASDAQ: TBK) group.
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