Third-party Logistics

Third-party Logistics Market is Expected to Boost Growth Opportunity for Major Share Investors 2021 to 2027

#3200,SEATTLE, WASHINGTION , UNITED STATES, December 7, 2021 /EINPresswire.com/ -- Third-party Logistics Market Perspective 2021

Report Pages: [130 Pages]

Logistics is the overall process of handling how resources are acquired, stored, and transported to their final destination. Logistics handles the flow of resources from the point of production to the point of consumption, in order to meet the requirements of customers. The retail industry is one of the key sectors that require adequate logistics solutions. Over the years, it has started adopting reverse logistics due to numerous advantages including increased velocity, the greater achievement of sustainability goals, improved customer service, etc. Recently, in March 2021, OnePak, a U.S.-based IT asset management company, launched a carbon offset program for the reverse logistics sector. Such factors have stimulated the growth of the third-party logistics market over the years.

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Third-party logistics refers to the outsourcing of e-commerce logistical procedures such as inventory management, warehousing, and fulfillment to a third-party company. With the tools and infrastructure to automate retail order fulfillment, 3PL providers enable e-commerce companies to accomplish more. On-demand transportation is a word that 3PL companies have recently coined to represent their brokerage, ad-hoc, and "flyer" service offerings. On-demand transportation has become a required competence for today's successful 3PL providers in providing client-specific supply chain solutions.

Distribution companies depend on third-party logistics providers to deliver their wares to their various customers. The role of the warehousing companies becomes important in this type of distribution. They will generally act as a link between the production and the warehouses. Warehouses will then take the items from the production and transport them to the customer. While the distribution companies have complete control over the physical processes involved in warehousing activities, they will still rely on a third-party logistics provider to make sure that the process is efficient. The third-party logistics market is witnessing massive growth in emerging economies such as China and India due to the fact that there is a concentration of the pharmaceutical and automotive manufacturing sectors.

Companies Covered as part of this study include: AmeriCold Logistics LLC, BDP International, Burris Logistics, C.H. Robinson Worldwide, CEVA Logistics, DB Schenker Logistics, DHL Supply Chain, FedEx, GEODIS, J. B. Hunt, Kintetsu World Express, Inc., Landstar System, Inc., Nippon Express Co., Ltd, Panalpina World Transport Ltd., Ryder Supply Chain Solutions, Schneider National, Inc., SinoTrans (HK) Logistics Limited, Total Quality Logistics, Inc., Transplace Texas LP, Unyson Logistics, Inc., UPS Supply Chain Solutions, and XPO Logistics, Inc.

Third-party logistics providers specialise in logistics. Providers may have more relevant knowledge and skills than the producing or selling organization, as well as larger worldwide networks that allow for higher time and cost reductions. Third-party logistics providers handle inbound and outbound transportation as well as warehousing for their clients. Most 3PL firms own or lease warehouse space, which they make available to their clients. They often do not own their own fleet of trucks and instead rely on other carriers for freight and shipment.ecommerce.

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Third Party Logistics Market Taxonomy:-

On the basis of service type, the global third party logistics market is segmented into:
Dedicated Contract Carriage
Domestic transportation management
International transportation management
Warehouse & distribution management
IT service and logistics software

On the basis of mode of transportation, the global third party logistics market is segmented into:
Waterways
Airways
Railways
Roadways

On the basis of end users, the global third party logistics market is segmented into:
Manufacturing
Retail
Healthcare
Automotive
Others

By definition, third-party logistics is the use of third-party vendors to complete parts of a company's supply chain. This is most commonly found in the distribution and handling of inventory. It is also used in international supply chains and in handling the transportation of finished goods. In addition, it can be defined as the integration of these systems. However, many companies use third-party logistics on a regular basis, especially in e-commerce and other business activities such as market research and delivery. Such services have experienced massive growth over the years, with the U.S. leading the way. The growth is driven by high demand for cold storage and robust tight truck capacities across the region Kerry Logistics to expand its logistics capabilities

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