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Third-party logistics (abbreviated as 3PL, or TPL) is an organization's long term commitment of outsourcing its distribution services to third-party logistics businesses. [1] Third-party logistics providers typically specialize in integrated operations of warehousing and transportation services that can be scaled and customized to customers ...
FedEx Supply Chain, [3] [4] formerly known as GENCO (General Commodities Warehouse & Distribution Co.) is a major third-party logistics (3PL) provider in the United States and Canada. [5] It serves various industries, including: technology & electronics, retail & e-commerce, consumer & industrial goods, and healthcare industries.
According to this definition, third-party logistics includes any form of outsourcing of logistics activities previously performed in house. For example, if a company with its own warehousing facilities decides to employ external transportation, this would be an example of third-party logistics. Logistics is an emerging business area in many ...
Third-party logistics, a concept in logistics; the Three parameter logistic model in item response theory; a glossing abbreviation meaning "third person, plural number
Starting in the 1990s, several companies chose to outsource the logistics aspect of supply-chain management by partnering with a third-party logistics provider (3PL). Companies also outsource production to contract manufacturers. [34] Technology companies have risen to meet the demand to help manage these complex systems.
The 4PL logistics market was valued at $55.75 billion in 2023 and is expected to reach $104.54 billion by the end of 2030, with a compound annual growth rate (CAGR) of 8.39% for the period 2024 through 2030. 4PL adoption and uptake is cascading from typical Tier 1 organizations into the mid-tier, as more logistics functions seek enhanced value ...
The main difference between a traditional freight broker and most 3rd-Party Logistics Providers is that freight brokers do not actually touch (fingerprint) the freight, whereas 3rd-Party Logistics providers often do. This can happen, for example, when the 3rd-Party Logistics company handles outsourced manufacturing and/or warehousing.
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