Third-party logistics (or 3PL) refers to the outsourcing of e-commerce logistics processes, including inventory management, warehousing, fulfilment or all parts of your logistics and transportation operations and executes transportation, freight management, warehousing, and other activities.
In the simplest form, a 3PL company coordinates and manages functions for better transportation and supply chain efficiency.
3PL providers may manage a single part or a multitude of different supply chain processes within your company. Also, third-party logistics companies are capable of managing multiple areas of your supply chain. To put it simply, companies use third-party logistics providers to manage their logistics operations in a productive and cost-efficient manner.
Third-party logistics providers can save companies the time they would normally spend carrying out the management of their supply chain. Usually, 3PLs take over transportation operations and some managing functions, so the amount of manual job is greatly eliminated. Also, thanks to 3rd party logistics companies and their technology, you save time on automated paperwork, fewer organizational errors, and time spent on arranging shipments.
3PLs have the ability to make modifications to each connection in the supply chain when needed. The company benefits from the continuous improvements made to their logistics process when they outsource a logistics firm. Apparently, one of the main goals of using a 3PL is optimization. These companies analyze your supply chain and operation and can define gaps and inconsistencies, helping you to optimize processes. A 3rd party logistics company goes through every step of your supply chain to define the unnecessary operation and find the potential for cost savings.
3rd party logistics company has more buying power, extensive carrier networks, and offer lower transportation rates. 3PLs also can help reduce the rate of returns, claims, shipping errors, and lost sales. Through industry connections and thorough analysis, 3PLs can cut a substantial amount of costs you are spending on freight transportation and logistics. Thanks to relationships with carriers and experienced freight brokers, 3PLs can negotiate lower rates for you and ensure to eliminate unnecessary costs.
Regardless of the season, 3PLs give you access to the capacity and required equipment. Through their relationships with thousands of carriers, third-party logistics providers ensure to support your freight volume. Also, they give you the opportunity to optimize inventory and warehouse management.
A transportation management provider has buying power and will receive competitive pricing on freight moves. A 3PL will help you negotiate lower GRIs and/or fuel surcharges. In most cases, a 3PL can create opportunities for cost savings for companies that have been running their own shipping departments.
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A consolidated shipment is the result of combining multiple LTL shipments from various shippers into one full container (multi-stop truckload) shipment. Consolidated shipping allows shippers to earn preferred rates and helps optimize supply chain logistics by saving time and reducing cost.
Regular mail is sent through the public postal service and courier mail services are managed by private businesses. A courier can transport all the same things as a regular mail service such as letters, packages as well as large and bulky items such as pallets of stock and much more.
A Courier company is one which delivers messages, packages and mail and is known for their speed, security, tracking service and specialisation.” A courier service was developed to offer a faster and more secure alternative to the usual mail service that had been the only delivery service for so long.
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Airway bill (AWB) is a document of proof of receipt issued by air carrier of goods to shipper on receipt of goods for on carriage.
Bill of lading is a document of proof of receipt issued by sea carrier of goods to shipper on receipt of goods for on carriage.
Routing label is a document of proof of receipt issued by road transport provider to shipper on receipt of goods for on carriage.