LaneAxis Partners with GTFO It’s Vegan to Create Virtual Cold Storage and Logistics Network
LaneAxis, the industry’s first Direct Freight Network built on blockchain, formalized a partnership agreement with GTFO It’s Vegan, the largest online retailer, wholesaler and distributor of vegan and plant-based foods in the U.S. and Canada. Together, the two companies are creating a virtual, national network of carriers and independent cold-storage warehouses allowing for enhanced visibility for contracting, negotiating, direct payment and tracking for perishable product deliveries.
Currently, cold storage warehouse capacity accounts for about 75% of the gross refrigerated storage capacity in the U.S. However, increased demand for frozen and refrigerated products across the U.S., transportation backlogs and labor shortages have severely strained cold storage capacity, driving up both logistic and warehousing rates for vendors and manufacturers.