During the past four years, supply chain and logistics companies have ridden the highs and lows of a market that included a pandemic and fractured economy to keep goods moving.

Across the major logistics market segments, 2023 brought a spate of challenges including compressed margins, rising labor costs and inflationary pressures, ensuring a down year for many.

2023 was a generally downtrodden year for 3PLs, with plummeting transportation rates and shippers focused on right-sizing inventories and reducing logistics costs.

A freight market recession, compressed broker margins and major acquisitions in 2023 have markedly altered the landscape of North America’s largest third-party logistics providers.

PHOENIX — Third-party logistics providers have persevered through a tough freight market while taking action to stem a rising tide of fraud, 3PL industry leaders said. 

Fourth-party logistics, also known as 4PL, is an operational model in which a business outsources its entire supply chain management and logistics to one external service provider. This partner oversees the supply chain, including the evaluation, design, construction, implementation, and measurement of the client's solutions.

Logistics refers to the transportation and storage of goods within a supply chain. For example, freight brokers who coordinate with a carrier to move a company’s goods are performing a logistics service.

Reverse logistics — the management and movement of returned goods — is one of the most significant systems in the economy, as it affects people and businesses in myriad ways, for example, post-holiday season when a high volume of gift returns are common.

BWT Logistics is set to acquire Lowell, N.C.-based third-party logistics specialist International Express Trucking for an undisclosed sum.

Third-party logistics specialist Warehouse Services said Sept. 28 it acquired Texas-based Sky Trans Group Holdings for an undisclosed amount.