An India 3PL as a supplier of operations related to the management of the supply chain between the independent companies and the traders. The trend of outsourcing these jobs have started catching up with various businesses all around the world today. This increases the need for specialist providers who handle it with the required expertise.
There are firms available today that will either take care of a part of the supply chain or handle the entire supply chain management job for companies and multi-national conglomerates. The main forte of the India 3PL is providing transportation services and warehousing facilities that can be customized to either meet the needs of the clients or according to the market conditions or even according to the delivery requirements of the goods or raw materials.
A recent report by Data Monitor pegs the total size of the India 3PL market at an estimated ninety billion US Dollars. They also predict the annual growth rate or the CAGR to be more than sixteen percent between the years 2007 and 2010.
This rapid growth is attributed to the new awareness created in the minds of the companies. More and more organizations today want to reduce the costs of supply chain management. Also, outsourcing the job to an experienced third party logistics provider allows the companies to focus more on their core competencies and this ensures profitable growth.
This has also led to the India 3PL realizing the market potential and, as a consequence, more and more companies are offering bundled services to companies that require more than just transportation and warehousing services for their raw material and goods. Many courier and transportation companies too are jumping onto the fray to provide the best in class services for those who require it at affordable prices.