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Big opportunities lie ahead for today’s third-party logistics providers (3PLs).
These new opportunities (and challenges, too) are a result of evolving market trends such as omnichannel and personalization. In turn, these market trends drive today’s supply chain trends (think: cloud computing or speed of delivery).
All of these trends are affecting how 3PLs and shippers work and function. There is a sharper focus for 3PLs and shippers to be able to deliver via omnichannel, inventory flexibility and agility, faster delivery time, and customer-centric services.
The current rising trends mean new opportunities, and it’s time for 3PLs to make some critical changes. According to new research by Tompkins Supply Chain Consortium, 64% of 3PLs surveyed say reinvention is occurring in the industry.
In addition, today’s top three challenges for 3PLs are: 1) competitive rate pressure, 2) profitability, and 3) the need for information sharing between 3PLs and customers.
Find out more about changes in the 3PL industry by downloading Tompkins Supply Chain Consortium’s latest report, “Reinventing the 3PL Model: Trends, Challenges, and Opportunities.”
What do you see as the biggest challenge(s) for 3PLs? What new capabilities and services do you think should be considered for the future?
More Resources
- Paper: Home and same-day delivery: how retailers can win on the next big battleground
- Paper: The Alibaba Effect – What Today’s 3PLs Need to Know
- Report: Final Delivery – Today’s Companies Are ‘Getting Local’
- Article: Spotlight on 3PL Implementation Failure: Why It Happens and How to Avoid It
- Optionality: The Critical Supply Chain Imperative for 2024 - January 18, 2024
- The Death of the Supply Chain and Birth of the Digital Supply Network - January 26, 2021
- Yahoo Yard Sale: What is Verizon’s Play? - August 4, 2016