March - 20206 logisticstechoutlook.comLinda James Managing Editoreditor@logisticstechoutlook.comLogistics, shipping, and order fulfillment are three areas where large businesses often commit silly errors. This can cause adverse effects on the growth and reputation of an organization. Enter Third-Party Logistics (3PL). By outsourcing these functions to a 3PL firm, organizations can focus on their core business and dedicate their time and resources to bring out the best product. 3PL acts as a link that supply chain brands can use to leverage a part or all of their business logistics needs. The market has seen significant growth since the advent of e-commerce.The digital revolution has sure reduced the need for hard copies, making paper copies in warehouses irrelevant. Mobile devices will enable both agility and mobility with essential documents such as invoices and shipment orders. The potential RFID enabled mobile devices bring along is immense. These devices can hold data that the items can carry on them. With this technology in place, customers will be able to order and process freight shipments anytime, anywhere. Similarly, big data will also play a significant role in the future of the way 3PL firms work. By leveraging big data, organizations can keep a close check on their functions using various tools for analysis, and in turn, increase profitability.Advanced IT and software systems like transportation management systems will help organizations reduce costs and save time. The reduction of these inefficiencies will have a direct impact on the ROI. Improved voice recognition software will help workers communicate directly and efficiently using warehouse management systems. This will help improve the stock recording, speed up order turn-rounds, and shorten staff training periods.The global economy in 2020 will be more integrated, requiring 3PL firms to work on a much larger scale with a comprehensive approach. With the expansion of distribution channels, there will be a steep rise in the number of opportunities in the market. The firm with the latest technology will stay ahead in the race and be the most suited contender for these opportunities. To help our readers identify the best 3PL company for their logistics solutions, we have prepared a list of the most prolific and wholesome 3PL solution providers and consultancy services.Do let us know your thoughts!Editorial3PL; Fount of Future Opportunities MARCH - 23, 2020, Volume 06 - Issue 05 ( ISSN 2644-2515 ) Published by ValleyMedia, Inc. To subscribe to Logistics Tech OutlookVisit www.logisticstechoutlook.com Managing EditorLinda JamesEditorial StaffAaron PierceAva Garcia Jade Ray Joshua ParkerSarah FernandesDean WinchesterVisualizerJohn Waltersales@logisticstechoutlook.comeditor@logisticstechoutlook.commarketing@logisticstechoutlook.comEmail:SalesJessica Stanleyjessica@logisticstechoutlook.comContact UsPhone:510.996.5173,Fax:510-894-8405*Some of the Insights are based on the interviews with respective CIOs and CXOs to our editorial staffCopyright © 2020 ValleyMedia, Inc. All rights reserved. Reproduction in whole or part of any text, photography or illustrations without written permission from the publisher is prohibited. The publisher assumes no responsibility for unsolicited manuscripts, photographs or illustrations. Views and opinions expressed in this publication are not necessarily those of the magazine and accordingly, no liability is assumed by the publisher thereof.
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