The saying “When China sneezes, the world catches a cold” sums up the global economy’s dependence on China. Bearing in ...
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Fifth-Party Logistics (5PL)
What is Fifth-Party Logistics?
A fifth-party logistics, also known as 5PL, is a system where an organisation (a client) outsources all its supply chains to a logistics service provider. The 5PL company engages in planning, organising and implementing the clients logistics solutions.
Through the various supply chain processes, 5PL employs the services of third-party logistics (3PL) and fourth-party logistics (4PL) at the same time, and it manages all the networks in the supply chain. Moreover, 5PL companies set prices and, in some cases, re-negotiate the already determined price.
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