3PL Central Launches Industry's First-Ever Third-Party Logistics Warehouse Benchmark Report
79% of 3PLs Report Growth, However Future Expansion Tempered by 50% Experiencing Warehouse Capacity Constraints
EL SEGUNDO, Calif., November 12, 2020 (Newswire.com) - 3PL Central, the leader in cloud-based Warehouse Management Systems (WMS) built to meet the unique needs of third-party logistics (3PL) warehouses, today released the industry's first-ever Benchmark Report focused exclusively on the 3PL warehouse industry. The Third-Party Logistics Warehouse Benchmark Report aggregates survey responses from 250+ 3PL warehouse industry professionals and covers 30+ strategic topics to help warehouses understand market growth opportunities and challenges facing the industry.
Key takeaways from the report include:
· 79% of 3PL warehouses experienced growth in 2020 and expressed continued optimism into 2021.
· 50% of respondents report running above recommended warehouse capacity, leaving limited room for expansion.
· 47% of participating warehouses cited difficulty finding qualified workers, while also experiencing increasing labor costs (58%).
· 87% of responding 3PL warehouses indicated using a warehouse management system (WMS) as the central hub of technology for their business.
· 8% of 3PL warehouses use big data analytics and only 14% use predictive analytics, but 36% say they plan to expand reporting and analytics functionality in the coming year.
The report elaborates on trends surrounding growth opportunities, warehouse capacity, labor demands, technology adoption, and measurement and metrics. While the data indicates tremendous growth opportunities driven by increased demand for eCommerce fulfillment, 3PL warehouses may face challenges from limited warehouse space and capacity, as well as the ability to find skilled workers. To accommodate additional growth, the fastest-growing 3PLs plan to invest in more technology and automation to improve inventory management and warehouse efficiency.
"As a partner for growth in the third-party logistics industry, 3PL Central designed this survey and the subsequent report to highlight the best practices of the fastest-growing companies in the industry," said Rachel Trindade, chief marketing officer at 3PL Central. "We want to advocate for the industry and provide insight and expertise to those 3PLs planning to accelerate their growth and to meet the demands of a rapidly changing landscape. For example, providing data that omnichannel fulfillment warehouses were 271% more likely to fall into the fastest-growing 3PL warehouses category (25%+ growth) can help warehouses develop strategies for diversification in 2021."
The report also explores the current 3PL warehouse landscape, cost drivers, and planned technology implementations for the future. Leveraging compiled data, the report outlines best practices to consider for the coming year.
Click here to view and download the complete 3PL Central Third-Party Logistics Warehouse Benchmark Report.
About 3PL Central
3PL Central is the leader in cloud-based warehouse management system (WMS) solutions built to meet the unique needs of the 3PL warehousing community. Serving as the backbone of our customers' operations, our platform quickly transforms paper-based, error-prone businesses into service leaders who can focus on customer satisfaction, operate more efficiently, and grow faster. Offering a comprehensive warehouse management platform, we make it easy for 3PLs to manage inventory, automate routine tasks, and deliver complete visibility to their customers. As the proven industry leader for over a decade, 3PL Central accurately manages billions of dollars in inventory and processes more than 1 million orders a week from any of our customers and their customers' systems. To learn more, please visit https://3plcentral.com/.
Media Contact:
Rachel Trindade
3PL Central
310-356-7546
rtrindade@3PLcentral.com
www.3PLcentral.com
Source: 3PL Central
