Technological developments in 4PL are allowing service providers to address a range of different issues for their clients with better visibility and centralised control, according to a newly published report.
Global procurement intelligence advisory firm SpendEdge released the report, entitled simply ‘4PL Procurement Research Report’, at the end of September, and it looks at best practices and cost saving opportunities derived from 4PL services on a global scale.
Worldwide, the report predicts a compound annual growth rate of 13.5% in the 4PL market over the coming years and urges close collaboration between 4PL service providers and their customers to make sure they are working towards clearly defined strategic imperatives and business goals.
But it also notes how 4PL service providers are able to offer a single point of access to carriers and contractors throughout the logistics, warehousing and transportation industry, with the visibility and control of advanced 4PL technology.
SpendEdge procurement analyst Angad Singh said: “4PL service providers are collaborating with multiple partners such as carriers, storage contractors and subcontractors to provide customised and unified solutions to customers.
“Currently, the market is witnessing an increase in technological innovation and the development of software systems that address issues related to speed, agility, and flexibility along with providing a centralised interface to control operational flows as well as enhance visibility.”
EVENT: 4PL Cloud SaaS
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