What's Happening?
The latest Annual Third-Party Logistics Study from NTT Data and Penn State University highlights a shift from transactional relationships to strategic partnerships between shippers and 3PLs. The study
emphasizes the importance of technological capabilities, with 90% of shippers considering them crucial in selecting 3PL partners. However, 43% of shippers are dissatisfied with their current providers' tech capabilities, indicating a need for improvement. The report suggests that 3PLs demonstrating IT competency will become increasingly important as shippers prioritize visibility and data analytics.
Why It's Important?
The focus on strategic partnerships and technology in the 3PL sector underscores the evolving nature of supply chain management. As shippers demand better visibility and analytics, 3PLs must invest in technology to remain competitive. This trend could lead to increased innovation and efficiency in logistics, benefiting industries reliant on effective supply chain operations. Companies that adapt to these changes may gain a competitive edge, while those that fail to innovate risk losing market share.
