Fourth Party Logistics - Enlarging 3PL a Step Further

Abstract

There is continuous development in logistics management throughout the world due to the competitive market. In this competitive market, competitive advantage is brought on the basis of business needs. The one, who can utilize its own resources or competencies with efficient cost management, delivers high quality goods at lowest lead time can satisfy the customers. Earlier 3PL was managing one or more activities but now 4PL is the integrated mechanism which brings all the logistics functions under one roof. 3PL was introduced to give ease in the client’s logistics activities but it was not bringing the full scale optimization. Introducing the concept of 4PL was to reduce these hassles (which were bound to 3PL) in logistics and therefore bringing the complete solutions to the clients.