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 … Molson Coors.
Molson Coors is a multinational beverage and brewing company with roots in both Canada and the U.S.
Molson Coors was formed in 2005 through the merger of Molson in Canada and Coors in the U.S. In 2016, Molson Coors acquired Miller Brewing Co. for $12 billion, making it one of the world’s largest beer and nonalcoholic beverage makers.
The Chicago-based company operates breweries around the world, producing everything from popular beers such as Molson, Coors, Keystone and Miller to seltzers such as Topo Chico and Vizzy, along with lemonade and cider beverages.
|New York Stock Exchange ticker||TAP|
|2022 net sales||$10.7 billion|
|2022 net income||$1.1 billion|
|Shipper of Choice history||first award|
Why Molson Coors is a Shipper of Choice
Officials for Molson Coors said they focus on keeping flexibility in their supply chain to accommodate the growing consumer demand for its most popular brands of beer and seltzers.
Molson Coors operates 22 breweries in the U.S., seven in Canada, three in the United Kingdom and one in the Czech Republic.
Every year, the company ships about 13 million barrels of beer and other beverages around the world, working with more than 7,000 transportation providers to keep its supply chain moving efficiently.
During Molson Coors’ first-quarter earnings call in late May, President and CEO Gavin Hattersley said the company recently expanded its supplier base to achieve better supply chain results as demand for its beverages increased.
“We came into this year with inventories in really good shape. … We shipped ahead of consumption in the first quarter as well. We came out of Q1 in good shape from an inventory point of view, our inventories were healthy and our inventories have remained stable in the last four weeks,” Hattersley said.
“Many of the changes that we made over the last year or so, decisions that we’ve made, put us in a much better position from a supply chain point of view than we have been for quite some time. We expanded our supplier base and that’s just allowed us to be much more nimble from an overall business point of view. And as a result, we have improved our ability to react to potential sharp changes in supply.”
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 TBK Bank, SSB, Member FDIC, and a member of the Triumph Bancorp Inc. (NASDAQ: TBK) group.
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