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(Transportation-News.com, March 19, 2016 ) Third-party logistics or 3PL is a business process followed by companies to outsource their logistics and supply chain activities to a service provider specialized in handling different logistics functions. 3PL service providers are specialized in handling different logistics functions such as transportation, warehousing, and freight and forwarding. The 3PLs provide transportation, consolidation, forwarding and customs brokerage, warehousing, fulfillment, distribution and virtually any logistics and trade-related services that their international customers need. With international trade mushrooming and supply chains expanding around the world, third-party logistics providers have taken on an increasingly important role for multinational manufacturers and retailers.
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Growing recognition of the role of outsourcing of logistics services coupled with growth in production and trade and global economic revival are the major factors driving growth in the global third party logistics market. High fuel prices pose a major challenge for the third party logistics companies and to meet this challenge they are adopting various measures, such as changing mode of transport, realigning network to reduce mileage, and most importantly implementing route optimization software.
The ever increasing requirement for outsourced logistics services and entrance of new players has made the global third party logistics market intensely competitive. Moreover, consolidation amongst 3PL companies through acquisitions and mergers has established itself as a growing trend in recent times and has further intensified the competition.
The report, ”Global Third-Party Logistics Market” analyzes the development of the global third-party logistics market, with a focus on its segments. The global market along with markets of Asia Pacific, North America, Europe and South America are being discussed in the report. The major trends, growth drivers as well as issues being faced by the industry are being presented in this report. The three major players in the industry, C.H. Robinson Worldwide Inc., Expeditors International of Washington Inc., and UTi Worldwide, Inc. are being profiled, along with their key financials and strategies for growth.
By combining SPSS Inc.’s data integration and analysis capabilities with our relevant findings, we have predicted the future growth of the industry. We employed various significant variables that have an impact on this industry and created regression models with SPSS Base to determine the future direction of the industry. Before deploying the regression model, the relationship between several independent or predictor variables and the dependent variable was analyzed using standard SPSS output, including charts, tables and tests.
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