3PLs, New Market Trends, New Opportunities
The current rising trends mean new opportunities, and it’s time for 3PLs to make some critical changes.
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:
- competitive rate pressure,
- profitability, and
- the need for information sharing between 3PLs and customers.
New Capabilities and Services Being Added by 3PLs
Source: Tompkins Supply Chain Consortium
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.”
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