Logistics can be defined as the management of acquiring, storing, and transporting of resources to its final destination. Fourth party logistics is the most innovative form of outsourcing and has rapidly been gaining popularity since past few years. The fourth party logistics also has a lot to offer in the management of inbound raw material supply, dynamic logistics, demand driven logistics, and global orchestrator.
Major functions of fourth party logistics include procurement, storage and distribution. In addition, improved customer services, reduction in overall operating cost, and more flexibility are some of the advantages of fourth party logistics.
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