By definition, third-party logistics is the use of third-party vendors to complete parts of a company's supply chain. This is most commonly found in the distribution and handling of inventory. It is also used in international supply chains and in handling the transportation of finished goods. In addition, it can be defined as the integration of these systems. However, many companies use third-party logistics on a regular basis, especially in e-commerce and other business activities such as market research and delivery. Such services have experienced massive growth over the years, with the U.S. leading the way. The growth is driven by high demand for cold storage and robust tight truck capacities across the region Kerry Logistics to expand its logistics capabilities
Logistics is the overall process of handling how resources are acquired, stored, and transported to their final destination. Logistics handles the flow of resources from the point of production to the point of consumption, in order to meet the requirements of customers. The retail industry is one of the key sectors that require adequate logistics solutions. Over the years, it has started adopting reverse logistics due to numerous advantages including increased velocity, the greater achievement of sustainability goals, improved customer service, etc. Recently, in March 2021, OnePak, a U.S.-based IT asset management company, launched a carbon offset program for the reverse logistics sector. Such factors have stimulated growth of third-party logistics market over the years.
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