FOURTH PARTY LOGISTICS (4PL)
Information technology plays a key role in logistics and supply chain management. In fact logistics integration, which is a complex exercise, is completely dependent on IT support. Third party logistic suppliers provide logistics solutions to clients on the basis of their domain knowledge they have acquired over the years. 4 PL companies provide logistics solutions built around the domain knowledge provided by third party logistics companies.Thus 4 PLs have emerged out of the vacuum created by 3PLs.
Fourth Party Logistics (4PL) is the integration of all companies involved along the supply
chain. 4PL is the planning, steering and controlling of all logistic procedures (for example
flow of information, material and capital) by one service provider with long term strategic
objectives. Fourth party logistics (4PL) has evolved as a breakthrough supply chain solution comprehensively integrating the competencies of third party logistics (3PL) providers, leading edge consulting firms and technology providers