Defining Third-party Logistics Third-party logistics (3PL) companies offer a wide range of services related to supply chain management, including elements like warehousing, transportation, inventory management, and distribution. Benefits of 3PL Warehousing Companies that specialize in 3PL services are experts in warehouse operations, transportation, and supply chain management. They possess the technology, engineering expertise, and resources… Read More
Warehouse racking with product and a forklift driver
Contract Warehousing vs Public Warehousing Contract warehousing provides space and resources dedicated to a single operation as opposed to a public or third-party logistics (3PL) warehouse, where multiple companies share space, equipment, and personnel. With a contract operation, competition for space availability, dock appointments, and material handling personnel is eliminated. Benefits of Contract Warehousing Utilizing… Read More
Briefcase of Money
Defining Inventory Financing Inventory financing is a form of asset-based lending, such as a revolving line of credit or a short-term loan, used to fund inventory purchases. The service is primarily utilized by businesses that are required to pay suppliers before selling product to their customers. While the line of credit or loan is active,… Read More