October 5, 2011: The 16th Annual Third-Party Logistics Study came up with some crucial findings for the outsourcing industry. The study that was conducted by means of communication and evaluation tools such as web-based survey, desk research, focuses interviews and also facilitated workshops was hosted by The Panalpina group. The group is one among the top most companies which are into logistic solutions.
The basic and fundamental purpose of the study was to learn more on the global market for outsourced logistics. According to the study present global scenario is such that there are around 51% of 3PL which are completely engaged in delivering supply chain services but there are only 11 % of organizations being able to avail the benefits of these service providers. Thus many service providers are focusing on to implementing supply chain analytical methodologies.
Methodologies becoming important have genuine and practical clarifications as these tools helps the service providers to bench mark themselves with other players in the outsourcing industry. Companies who are into supply chain services feel that clients should be delivered with value added services and strategic guidance to uplift smooth functioning in an organization, and to do this self evaluation is very necessary. The study says that the demand for supply chain service providers are higher but in the present scenario it is recommended by supply chain analysts that service providers should come up with strategies to improve inefficiencies. According to the report, worldwide companies are planning on increasing the usage of service providers. Out of the respondents 64% said that there will be an increase in dependence on the third party vendors in the near future. The report also extends to find out that there is a healthy relationship between vendors and service buyers, but improving value added services will obviously leverage the relationship into more solid.
The study which includes details on current status of third party logistics market, emerging market possibilities for the service providers, strategic approaches to be ensured and implementation of technological assistance is a perfect one for the service providers that are into logistic and supply chain services to refer.
The study extends its scope to evolving economic conditions and drastically emerging industry dynamics which can be considered as a perfect opportunity for the service providers to grow. Companies are today conscious about the global trend and focus on total cost management, so that less cost and more benefits could be achieved at ease. Recommendations given by supply chain analyst help both the service buyers and 3PL’s in getting strategic solutions to leverage the business.