Over recent years, the supply chain profession has expanded to take in a wider range of disciplines—and functional titles. Nowhere is this trend more apparent than in the service provider space.
In the industry’s alphabet soup of provider titles, it can be difficult to figure out the differences between acronyms such as 3PL and 4PL, or LLP and LSP. Maybe you’re wondering whether there’s such a thing as a 5PL.
Does it matter if you know the exact differences between these acronyms? Well, misnaming a service provider probably won’t throw the efficiency of your freight network into a nosedive. And if you’re confused, there is no need to rush out and recruit a director of semantics.
Still, confusion over the functional identity of a service provider can reflect muddled thinking on the type of services you actually need. Also, a provider that calls itself one thing, but in reality fulfills another role, should raise some red flags.
Insights for Procuring a TMS in a Large Company
Investing in a transportation management system (TMS) can be more complicated for large organizations that have to reconcile the needs of multiple business units in different geographies. The business models and associated markets can vary widely as well; for example, if the company has grown through acquisitions.
The Internet of Things (IoT) is rewiring supply chains, yet we are only at the beginning of this journey. As innovation gains speed, there are broad supply chain issues that governments need to address in order to take full advantage of the incredible opportunities that lie ahead.
Will the IoT Revolution Force Government to Embrace Silo-Busting?
The Internet of Things (IoT) is triggering changes that cross corporate silos and force companies to look holistically at their end-to-end supply chain practices—can governments do the same?
I recently had the privilege to provide a testimony before the U.S. Senate Subcommittee on Surface Transportation and Merchant Marine Infrastructure, Safety, and Security, on how the IoT impacts supply chains, logistics, and the movement of goods. The purpose of the hearing was around the DIGIT Act that creates a working group tasked with providing recommendations that focus on how to plan for and encourage the growth of the IoT.