(
Sean Henry came to a revelation when he was working on a manufacturer’s supply chain: There was often a mismatch between warehouse capacity and demand.
“A lot of [their] locations had hundreds of thousands square feet of empty space that we were trying to figure out how to utilize from overplanning,” STORD Founder and CEO Sean Henry told PYMNTS in an interview. “And a lot of [their] locations were just completely out of space, and we were using third-party warehouses.”
This less-than-optimal use of resources gave Henry an idea: Why not take the concept of a third-party warehouse and apply it to a shared-capacity model? In essence, he thought it would work like the Airbnb of warehousing. Companies and individuals alike have excess space, and he thought a new platform could connect them with companies that need to store goods.
Read more of this article here.
