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Third-party Logistics: Critical to reimagining supply chain networks

By September 9, 2022May 12th, 2023No Comments

Uncertainty is the only certainty for supply chains today. In fact, according to a recent BCI study, just in the past 12 months, almost 50% of supply chain operations reported six or more unique disruptive events. The ongoing disruptions and growing customer demands have shaped how shippers now respond in a world of constant chaos—reflecting the grit and determination of all the supply chain teams out there who worked to keep value chains open to move services and goods as best as possible.



Today, companies are at a tipping point with their supply chains of yesterday and are aggressively looking toward the reinvention of their business models through a future lens with supply networks that create durable competitive advantage.



This will require an ecosystem where shippers can better strategically leverage partner platforms and services to accelerate collaboration and transparency across the value chain. The age of the “cost transaction” between value chain players is fading away as shippers of all sizes continue to seek ways to bolster supply chain network resiliency, drive transparency, and move toward sustainable operations.



A key component of this is a shift toward deeper relationships with their third-party logistics (3PL) service providers and forging strategic innovative partnerships.



Accenture research shows 60% of executives are now trying to drive growth through building data transparent ecosystems, and three-quarters say that they need new ways of innovating with ecosystem partners to enable end-to-end visibility and a resilient supply chain network. Additionally, these new strategic partnerships are being shaped by business demands for a more comprehensive set of end-to-end logistics capabilities.



In fact, an Accenture survey found that 91% of logistics companies acknowledge that customers are now asking for end-to-end logistics services handled by a single provider. Companies that have established strategic third-party logistics provider relationships have already begun collaborating with their partners to rethink the foundation of their supply chains to design new supply networks with the customer at the center.