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A 3PL is simply an outsourced logistics company that provides customizable warehouse storage, distribution and transportation solutions to other businesses. The services provided are based on the 3PL’s capabilities. Most 3PL’s typically offer inventory management, order fulfillment, goods shipping, and last-mile delivery services. Read on to find out the cost benefits of a 3PL .
Manufacturers, distribution companies, wholesalers and those associated with supply chains have all been proven to benefit from outsourcing their logistics activities to 3PL providers. Several significant reports also indicate the growing use of 3PLs by shippers as a means of gaining a competitive edge. The following points will assist you in forming a partnership and putting in place a successful 3PL partner.
Compared to the previous year, transaction activity in the Hyderabad industrial and warehousing market was relatively low in FY 2020. Total absorption declined 14% year over year, from 4 million square feet in FY 2019 to 3.4 million square feet in FY 2020. Find out more about Hyderabad Warehousing Market 2021.
Supply Chain Management (SCM) integrates supply and demand management, both within and beyond the organisation, across all the channels and members in the supply chain. In today’s dynamic and globalised market, it is a pivotal differentiator that determines the success of a business. Read on to understand the various nuances of SCM.
The National Capital Region (NCR) is a primary industrial belt in the country and a preferred location for occupiers looking to expand their warehouse footprint in North India. Read the complete report on Warehousing Market in NCR – Delhi.
Third-Party Logistics (3PL) comes into play when the traditional business model of in-house handling of operations falls short. Inadequate fulfilment can be detrimental and result in loss of money and customers, whereas outstanding fulfilment can lead to increased productivity and loyal customers. Careful examination of various types of 3PL providers and selecting the most suitable one can do wonders for the growth of a business.
Any successful product-based company needs a suitable warehouse to store the inventory. The process of choosing and selecting a warehouse is hectic and prolonged. We have simplified the entire process into 9 simple steps which help anyone rent a warehouse in Chennai.
The industrial and warehouse market in Chennai had a somewhat weak FY 2020 compared to the previous year. Transaction volume decreased by 19 percentage yearly, from 0.4 million square metres (4.2 million square feet) to 0.3 million square metres (3.4 million square feet). Read the complete report on Chennai Warehousing Market.
With an ever-growing pool of third-party logistics providers available to outsource logistical activities, learning how to select the right third-party logistics provider might be the difference between reaching existing clients and capturing new market share. Fortunately, the process of selecting a 3PL can be divided down into six specific questions.