Different value added service offered by third party logistics service

Sample Solution

Third-party logistics service providers (3PLs) offer a wide range of value-added services to their customers. These services help businesses reduce costs, increase efficiency, and improve customer service. Value-added services can include: 1. Inventory Management - 3PLs provide inventory management solutions that enable companies to track inventory levels in real time, allowing them to better manage stock levels and respond quickly to customer demand. 2. Warehousing - 3PLs provide warehouse space for storing goods and materials, as well as handling distribution centers for rapid order fulfillment. 3. Transportation - 3PLs offer transportation solutions for domestic and international cargo shipping needs, including ocean freight forwarding services and intermodal transport options like trucking or rail shipments. 4. Packaging & Assembly – Many 3PLs provide packaging design and assembly services such as kitting and repackaging at the point of delivery or origin location in order to save time on product preparation before shipment while ensuring quality standards are met during assembly process . 5 . Reverse Logistics – This value added service involves returning items from the end user back to the originating place , often associated with repair or replacement parts . It is an important aspect of eCommerce where customers may return purchases for different reasons such as wrong item received , damaged products etc . 6 . Consulting – With increasing complexities in supply chain operations , companies prefer hiring third party logistics experts who are proficient in the domain area so that they can plan out strategies specific to their business objectives . The consulting team assists them with developing operational excellence plans by focusing on cost reduction initiatives along with reducing cycle times in logistics operations . These value added services offered by 3PLs have been beneficial for businesses across industries due to its ability to reduce cost while improving overall performance throughout the supply chain network.(1) Furthermore, it has allowed SMEs especially those conducting cross border trades access more efficient logistic channels without having large capital investments into warehousing or transportation infrastructure.(2) References: 1) Mukherjee S., & Sarkar M.,(2018). Impact of Third Party Logistics Service Providers (3pl): A Review Paper International Journal Of Scientific And Research Publications Volume 8 , Issue 9 | September 2018 ISSN 2250-3153 https://www.ijsrp.org/research-paper-0918/ijsrp-p9227.pdf 2) Watanabe K., Kolanczyk R., & Gössinger R., (2015). The Role of Third Party Logistics Providers in Cross Border Trade: Evidence from Small Medium Enterprises In Australia Economic Notes vol 44 no 4 pp 753–786 DOI 10 http://dx doi org/10 1177/0535019915605926