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Chapter 3: Q.15-2PE (page 398)

A company that is hired to handle logistics functions.

Short Answer

Expert verified

A company that is hired to handle logistics functions is known as Third Party logistics.

Step by step solution

01

Definition of Third-Party logistics

Third-party logistics can be defined as a part of logistics and supply chain management that is used to outsource the goods and other elements from the distribution channel and warehouses.

02

Role of Third-Party logistics

The main roleorpurposeof Third-Party logistics is to improve the quality and speed of delivery. In simple terms, the role of Third-Party logistics is to make the whole work more effective and results in the profitability of the business.

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