India, May 20 -- What Is Third-Party Logistics (3PL)?

Third-party logistics (3PL) refers to the contractual delegation of logistics operations to a specialised service provider. These companies assume responsibility for various aspects of a business's supply chain, encompassing warehousing and inventory management functions to order fulfilment and shipment execution.

In essence, a 3PL provider is contracted to manage the movement of the products from origin (point A) to destination (point B), with the potential for additional services further along the supply chain. This strategic partnership can offer significant advantages for businesses, particularly those experiencing growth or engaged in electronic commerce. By outsourcing logistic...