What is 4PL?
4PL supply chain solutions use technology to integrate all stakeholders and suppliers to work together as a seamless whole, managed centrally by a team of experienced supply chain experts
4PL is the most in-demand supply chain management model for manufacturers and shipping companies interested in
saving money, improving efficiencies, and streamlining how products move.
Far surpassing previous incarnations of supply chain logistics systems, 4PL focuses on using logic, planning, and technology to develop a strategy that brings all elements of the process into one integrated solution. 4PL solutions are designed to grow along with your company, as well as manage your seasonal volume.
Previous supply chain solutions required you to juggle the management of teams, fleets of trucks, shipping schedules, inventory movement, transport companies, and much more. 4PL gives you the flexibility to work with one company who will manage all of that for you.
Simply put, supply chain management is much easier with 4PL, while you enjoy significant cost savings that comes with a streamlined solution that creates real value for your company.
What does "PL" stand for?
PL is the acronym for Party Logistics. It refers to a different party that’s involved within the supply chain system. The number before the PL (as in 4PL) represents the number of parties involved within that process.
Manufacturers using the 1PL system handle their own shipping to vendors, warehouses, or ports, or individual vendors picking goods up directly from the manufacturer.
Shipping logistics are still managed in-house, but the manufacturers are using transportation services to move their goods. This could be a rail operator, trucking company, or ocean shipping company.
3PL added a third party to the traditional “shipper and carrier” setup in the form of outsourced companies that offered transport, cross docking, inventory management, packaging, and other supply chain services.
4PL: The best solution for supply chain logistics
4PL adds much needed strategy into the supply chain system. With a 4PL service provider, you have access to the best service providers on the market. You’re never locked in with one company, and can make adjustments as your needs change. 4PL also brings you significant cost savings as it is tech-based, not asset-based.
Advantages of the Cedric Millar 4PL approach:
Outsourced single-point management of your entire supply chain system
Year-round system support and strategic consultancy
Wide range of best-fit supplier options through Cedric Millar’s extensive network
Offers economies of scale due to our large number of partnerships
Cutting-edge technology customized to your needs
Robust reports that allow for performance analysis, informed decision-making, and identifying areas of focus
Strategic reallocation of assets and human capital
Strategic business review framework to review operational and financial performance, and to develop continuous improvement projects