Logistics makes the world go ‘round, and the choice between using third-party logistics (3PL) or fourth-party logistics (4PL or leading-party logistics) is one of the most important choices you’ll have to make if you have a company that specializes in goods that have to get from one point to the next.
Lucky for us, the terms 3PL vs 4PL are pretty clearly defined in business and logistics literature.
Every industry has its list of terms, and we can say that the logistics industry is no different. If you haven’t had a long history in the industry, you might still find a term that throws you even if you’ve been around for a while.
Here’s a list of top logistics terminology so that you never have to feel left out in the middle of things again.
The food and beverage sector uses a co-packing company to minimize packing costs in moving products from farm to shelf. The growth of the co-packing industry is skyrocketing. Brands are starting to realize the importance of packaging and role it plays in building consumer confidence and brand loyalty.
Using a food co-packing company allows you to focus on the critical areas of your business and delegate the packaging and distribution of your products.
Right now, tech giants like Amazon and Uber are causing major problems within the logistics industry. This is not all that surprising, considering that the global logistics industry is worth around $8 trillion. That makes it one of the most attractive markets out there.