Prologis, Inc. (NYSE: PLD) said it is one of 18 organizations working with the federal government in a new public-private partnership aimed at improving the flow of goods across the United States.
The partnership, Freight Logistics Optimization Works (FLOW), includes trucking, warehousing, and logistics companies, port and terminal operators, and other stakeholders, that will develop a digital network to share key freight information between different parts of the supply chain.
The initial phase of the partnership, which will be led by the Department of Transportation, aims to produce a proof-of-concept freight information exchange by the end of the summer.
Prologis COO Gary Anderson noted that the flow of goods through Prologis buildings represents 2.5% of global GDP. “We play a unique role in the global supply chain,” he said. Anderson added that Prologis is “pleased to be part of this effort to use data to improve the systems that support the movement of goods in this nation. We’re hopeful this public-private effort will help create a stronger, more resilient supply chain.”
According to Prologis, the supply chain is almost entirely privately operated, with very little information shared between different players. This lack of information exchange can cause delays as cargo moves from one part of the supply chain to another, driving up costs and increasing fragility.