Third Party Logistics (3PL) is the function by which a manufacturer outsources activities related to logistics and distribution. Often a 3PL company can go beyond just logistics and distribution and can provide specialized services such as inventory management, cross-docking, door to door delivery and packaging of products. The market for this service is expected to witness growth at good pace owing to its use in todays competitive environment.
Some of the key players of 3PL Market:
DHL, United Parcel Service, FedEx Corporation, Maersk Logistics, DB Schenker, Kuehne+Nagel Inc., NYK logistics, Panalpina World Transport Ltd., Union Pacific Corporation and BNSF Railway Company
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Moreover, the demand is expected to rise due to increase in the focus of manufacturer and retailers on their core business (known as core competencies) and subcontracting activities, such as logistics where they have less expertise. Thus, the increase in the competition has diverted the focus of manufacturer to promote respective specializations in production and distribution.
Increase in the globalization helped in setting up a worldwide network of manufacturing activities. To maintain it efficiently, the demand of 3PL companies is expected to rise. The scope of 3PL services is expected to increase as productivity gains in supply chain in terms of cost and reliability can be derived with the help of managerial and information technology expertise provided by 3PL companies. Increase in the e-commerce industry and reverse logistics operations are also driving the market of 3PL industry.
THIRD PARTY LOGISTICS (3PL) MARKET SEGMENTS
The market is segmented on the basis of service type and geography.
MARKET BY MODE OF TRANSPORT
Market By Service Type
Dedicated Contract Carriage (DCC)
Domestic Transportation Management
International Transportation Management
Warehousing and Distribution
Others (IT services and Logistics Software)
Market By Geography
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