Third Party Logistics: An Inside look at Operational Strategies
Infosys Consulting released the 22nd Annual Third-Party Logistics Study this year, proving key insights and trends to keep a watch for in 2019. Of the insights, the study revealed that maintaining balance and consistency in an ever changing market is one of the biggest challenges for the logistics industry, pertaining to 3PL logistics specifically.
The study revealed that 91 percent of providers cite 3PLs as a resource for improved operations and logistics. Examples of this include Seacoast Capital and their $10 million investment in Deliver-It for their consumer base, and Volvo announcing that it will own and operate in addition to providing the first commercial use for their automated trucks for a mining company. More big name companies are considering 3PLs as solid logistics solutions for commercial expansions.
Other leading 3PL companies such as Team Worldwide, a global freight forwarder, utilized global expansion efforts and strategy as a means to improve customer relationships in 2018. General Manager Brian Purugganan explained that implementing such strategies allows them to invest in Supply Chain Management solutions for customers, providing a way to meet individual expectations. Team Worldwide expanded the company to a new Seattle-based branch for increased customer reach and is expected to open in December 2018, laying the foundation for success in 2019.
“The opening of Team Seattle is a strategic part of our domestic and global expansion. Seattle is an important ocean gateway to and from the US. It will allow us to better support the needs of our customers in the Northwest and will also help expand our cross border services with Team Worldwide, Ltd. in Canada,” Team Worldwide CEO Jason Brunson said.