What is 5PL?
What is 5PL? A fifth party logistics (5PL) model allows businesses to outsource their entire supply chain to a specialized logistics provider. This logistics solution embraces all cutting-edge technology with respect to managing, planning, and executing logistics functions. Efforts in implementing 5PL logistics solutions provide the basis of the modern day- strategic, tech-enabled framework within […]
What is Dead Freight and How to Prevent It?
What is Dead Freight? When the reserved space on a ship is not entirely used or paid for by the shipper, it is called dead freight. It compensates for lost revenue and freight opportunity due to unutilized capacity in the shipping containers or dry bulk vessels. To clarify what is dead freight in shipping, when […]
