Examlex
Lance primarily works in the receiving department for a manufacturer.Every month he moves around to other areas such as to production to help finish products and to shipping to help with packaging.This is known as
Financial Based 3PL
A third-party logistics provider that offers financially focused services, including cost management, freight payment, and financial settlement, in addition to traditional logistical services.
Financial Interest
An economic stake or concern in an entity or transaction, potentially influencing personal or organizational decisions and behavior.
Outsourcing
The practice of hiring third-party vendors to perform tasks, handle operations, or provide services that are either difficult to manage or outside the core competencies of the hiring company.
IT Gap
The discrepancy between an organization's current information technology capabilities and the technology needed to achieve its goals or meet demand.
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