The Global Market for Third Party Logistics (3PL) is Projected to Reach US$1.2 Trillion by 2022
Increased Emphasis on Supply Chain Efficiency Drives Growth of Third Party Logistics (3PL), According to a New Report by Global Industry Analysts, Inc. GIA launches comprehensive analysis of industry trends, growth drivers, market share, size and demand forecasts on the global Third Party Logistics (3PL) market. The global market for Third Party Logistics (3PL) is projected to reach US$1.2 trillion by 2022 , driven by increased complexity in supply chain management and the rising need to augment logistics efficiency. Third party logistics (3PL) is a supply chain concept wherein enterprises outsource their logistics operations to a third-party service vendor on a contract basis. Although a typical 3PL service contract that mainly focuses on transportation, warehousing and distribution functions, the model can seamlessly encompass various specialized and value-added services such as reverse logistics, cross-docking, inventory management, product packaging, and door-to-door del...