Portland, OR -- (SBWIRE) -- 08/22/2017 -- Logistics can be defined as the management of acquiring, storing, and transporting of resources to its final destination. Fourth party logistics is the most innovative form of outsourcing and has rapidly been gaining popularity since past few years. The Fourth Party Logistics also has a lot to offer in the management of inbound raw material supply, dynamic logistics, demand driven logistics, and global orchestrator.

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Major functions of fourth party logistics include procurement, storage and distribution. In addition, improved customer services, reduction in overall operating cost, and more flexibility are some of the advantages of fourth party logistics.

The need of an economic and effective management system, which has benefits of both in and outsourcing majorly drives the market growth. In addition, increase in complexities in operation process and rise in demand for customized solutions also boosts the market. However, reluctance of companies to outsource the logistics function hinders the growth of the market. Most of the companies just refuse to embrace this concept because of the fear, they will not have full control over supply chain.

The global fourth party logistics market is segmented on the basis of type and region. On the basis of type the fourth party logistics market is classified into synergy plus operating model, solution integrator model, and industry innovator model. Geographically, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.

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The key players in the fourth party logistics market include C.H Robinson Worldwide, Ltd., Accenture Consulting, XPO Logistics, Inc., 4PL Insights, LLC., Panalpina World Transport (Holding) Ltd., Deloitte Touche Tohmatsu, Global4PL Supply Chain Services, 4PL Group, Logistics Plus Inc., and CEVA Logistics.