5PL (Fifth Party Logistics)

Fifth Party Logistics (5PL) is an integrated supply chain service provider that coordinates and oversees the entire process of procurement, from sourcing to delivery. It works in tandem with existing logistics providers and offers a holistic approach to managing the procurement process. 5PL allows for a more effective and efficient process by providing visibility into supply chain performance and optimizing the overall costs of procurement. By streamlining the flow of goods and services from various sources, 5PL helps businesses create a more robust, comprehensive, and cost-effective supply chain.