Any physical good that comes into or goes out of the U. S. needs intensive logistics planning and management and must be cleared by U.S. Customs.
Thanks to the ins and outs of these procedures, most companies decide to hire a 3PL supplier to control the transport, clearance, warehousing, and distribution of their cargos.
Market Stats In 2006, imports to the US surpassed $2.2 trillion ( a 10.5% increase over 2005 ) and exports surpassed $1.4 trillion ( an increase of 12.8% ). In 2006, the total cash for the 3PL industry was $110.6 bln, representing a total industry rate of growth of 11.9%. Data monitor projects that by 2010, the total 3PL market will surpass $140 bn.
This piece of the market is inspiring little and medium-sized firms to take part in worldwide trade, under the consultation of a 3PL provider. By employing the market to control the customer’s transactions, they can provide low coast exchange management, cargo tracking, trade talks, and the “bidding war” reverse auction function, adding a price for our customers and fortifying our comparative advantage over competitors.
Many corporations entered global markets precipitously and are only now starting to address the absence of visibility across their supply chains. Most 3PL ( 3rd party logistics ) suppliers offer the latest technologies like online tracking, and ninety percent of companies report that their worldwide supply chain technology is now sufficient to supply the punctual info obligatory for budget and cash flow planning as well as effective management.
One of the most non-obvious sides of the freight forwarding and 3rd party logistics industry is the absence of a central location for global trade info and services.
What Supply Chain Execs are Purchasing, where They are Skimping.
Similarly, those corporations that do provide complete 3PL services are large and have been concentrating on maintaining a low number of bigger accounts. Many tiny and mid-scale firms who were sufficiently lucky to get find a trustworthy 3PL supplier end up being squeezed out and not having their contracts replenished. Go Worldwide is concerned in a lot of the swiftest growing markets in the world like East Asia and Western Europe where the market is predicted to grow 33% over the following 5 years. It is projected that after 5 years, 3PLs (3rd party logistics suppliers) will deal with more than 57% of the sector’s supply chain necessities. This provides amazing expansion chances for Go Worldwide. Foreign Direct Investment in Africa has been gradually rising, an indicator that it’ll shortly be a reasonable target audience for Go Worldwide Logistics. In 2006, FDI increased 26.5% to $38.8 bill. If this trend continues to develop, Africa may be the new China of world trade, and Go World intends to be there to ride on the wave. Sowinski, Laura. “What Supply Chain Execs are Purchasing, Where They are Skimping.” World Trade. 2006. Commercial Motor. “Significant Potential for Third-party Logistics.” Reed Business Info. Fifteen Mar. 2007. Panitchpakdi, Supachai. “Investment in Africa: The Difficulties Ahead.” World Trade Forum. Issue 0.5 007. Restating the Market Most tiny and medium-sized enterprises search for 3PL suppliers on the web, where 3PL advertising coverage is deplorable. Go worldwide plans to take advantage of this by creating a robust net presence with user-friendly info aimed towards firms new to the global trade. By providing cutting-edge features that have value to our purchasers like the Go Worldwide Web Market, we attract a large range of enterprises intending to or already engaged in world trade. The Go World Market-place is changing the market by making a focused web marketplace permitting importers and exporters around the world to attach and trade in a safe and efficient platform. By providing minimal cost, scalable, web services with the equivalent level of visibility available from the biggest 3PLs, Go World is changing the sector of global trade and supply chain services and continues to enfranchise tiny and medium-sized companies to challenge on the worldwide stage.