Third-Party Logistics (3PL)

Third-Party Logistics (3PL)

 

 

Third-Party Logistics (3PL)

 

Meaning of Third-Party Logistics (3PL)

Third-Party Logistics (3PL): Outsourcing all or much of a company’s logistics operations to a specialized company. The term "3PL" was first used in the early 1970s to identify intermodal marketing companies (IMCs) in transportation contracts. Up to that point, contracts for transportation had featured only two parties, the shipper and the carrier. When IMCs entered the picture—as intermediaries that accepted shipments from the shippers and tendered them to the rail carriers—they became the third party to the contract, the 3PL. Definition has broadened to the point where these days, every company that offers some kind of logistics service for hire calls itself a 3PL. Preferably, these services are integrated, or “bundled,” together by the provider. Services they provide are transportation, warehousing, cross-docking, inventory management, packaging, and freight forwarding. In 2008 legislation passed declaring that the legal definition of a 3PL is “A person who solely receives, holds, or otherwise transports a consumer product in the ordinary course of business but who does not take title to the product.”

 

Source: https://cscmp.org/sites/default/files/user_uploads/resources/downloads/glossary-2013.pdf

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Third-Party Logistics (3PL)

 

Third-Party Logistics (3PL)

 

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Third-Party Logistics (3PL)

 

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Third-Party Logistics (3PL)