According to McKinsey, global indirect procurement spend has been growing by an estimated 7% each year since 2011. Many of the inflationary factors driving this rise are well outside of most organizations’ control – so what can today’s procurement teams do to keep these essential costs under control?
Cloud-based platforms and globalization have pushed supply chains to new limits and capabilities, creating many new business opportunities for those who can manage the growing complexity.
Outsourcing is becoming a common way companies handle these changes and needs, but it can be confusing, especially when new industry terms crop up with little explanation. So, we're looking at three common logistics outsourcing models to explain what they are and what they can do for your business: the 3PL, 4PL and 5PL.
The phrase “last-mile logistics” refers to the process of moving products from the last transit stop to the final destination, which may be anywhere from one to one thousand miles. Last-mile logistics does not involve transporting goods from a single route to a single destination like port-to-port or terminal-to-terminal logistics. Instead, it involves road transportation primarily to complete the final delivery stage. It is also one of the biggest logistics challenges that businesses face.
This article originally appeared in Outsource Magazine Issue #23 Spring 2011
Leading academics charted a path that challenges the conventional definition of winning. Smart companies are applying these concepts, showing that win-win thinking is not just something nice to say: it’s smart business – and really is beautiful…