Executive Briefings

Business Continues to Grow for Third-party Logistics Companies

Revenues for U.S. 3PLs, which provide services ranging from booking truck drivers to managing warehouses, rose 7.4 percent to $157.2bn last year, faster than the 2.8 percent growth in logistics spending overall, according to the Council of Supply Chain Management Professionals, which recently released its annual State of Logistics report.

Business Continues to Grow for Third-party Logistics Companies

Driving the growth was an improving U.S. economy and a shortage of capacity in a few key areas, notably trucking, said Dick Armstrong, president of Armstrong and Associates, which provided data on 3PLs for the State of Logistics report. Armstrong said with truck drivers in short supply, shippers are relying more on freight brokers and their close-knit relationship with trucking companies.

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Driving the growth was an improving U.S. economy and a shortage of capacity in a few key areas, notably trucking, said Dick Armstrong, president of Armstrong and Associates, which provided data on 3PLs for the State of Logistics report. Armstrong said with truck drivers in short supply, shippers are relying more on freight brokers and their close-knit relationship with trucking companies.

Read Full Article

Business Continues to Grow for Third-party Logistics Companies