Conceptualized by Accenture in the late nineties, fourth-party logistics (4PL) began trending as an industry buzzword in recent years as the ideal solution for managing the increasingly complex supply chain, supporting a more globalized economy, and keeping up with the explosion of ecommerce and the corresponding intensification of consumer expectations.
But if 4PL networks have such significant and apparent advantages over traditional logistics frameworks, why did it take two decades to gain steam? Simply put, the 4PL model was not realistically attainable for the vast majority of logistics providers.
Over the course of that period, the different technologies required to bring 4PL to life either 1) did not yet exist, 2) were not widely available, or 3) were too expensive for most companies to adopt.
The technologies required to bring fourth-party logistics to life are no longer lofty aspirations or secret treasures of the elites. They exist, and better than that, they are attainable.
Access this guide to discover today's technological innovations that make 4PL networks not only possible but realistic options for any player in the logistics industry. Get a closer look at sections including:
- Laying the Groundwork: Solving for Network Visibility
- Setting Work in Motion: Order Management Drives Scalability
- Refining the Process: Data Analytics to Monitor Performance
- Cashing Out: 4PL Billing Automation Boosts Profitability
- Wrapping Up: How Extensiv Powers 4PLs