Question
In: Finance
Define the following terms: outsourcing/contract logistics, third party logistics companies, and logistics integrators. Explain, with specific...
Define the following terms: outsourcing/contract logistics, third party logistics companies, and logistics integrators. Explain, with specific details, how each helps the efficiency of supply chain management
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Expert Solution
Answer:
Contract Logistics- Is the comprehensive process from production to distribution at the final point of sale. These companies are logistics management firms who take care of services like designing layouts, warehousing, transporting and distributing goods etc.
It helps in efficient supply chain because companies outsource this service to increase the profitability and to reduce the time in supply chain so that company can concentrate on its core competency and other factors.
Third party logistics companies- Provides outsourced logistics services. It has bundle of services including warehousing, transportation, storage, packaging, delivery and sometimes inventory management.
It provides efficient inventory management and control. It saves from stock outs and also saves time.
logistics Integrators- Are the logistics partners that take care of logistics services of big companies. They provide warehousing, freight, transport services and logistics solution etc.
This service is very good for the companies who have their business through cargo and ports.
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