Definition
Third-party logistics (3PL) refers to the outsourcing of logistics and supply chain management functions to external service providers or third-party logistics companies. 3PL providers offer a range of services such as transportation, warehousing, distribution, freight forwarding, inventory management, and order fulfillment to help businesses streamline operations, reduce costs, and improve efficiency while focusing on their core competencies and strategic goals.
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Private Limited Company (Ltd)
A Private Limited Company (Ltd) is a type of company where the ownership is divided into shares held by a small number of shareholders. The liability of shareholders is limited to the amount unpaid on their shares, and the company’s shares cannot be traded publicly on the stock exchange.
Limited Liability Partnership (LLP)
A Limited Liability Partnership (LLP) is a business structure where partners have limited personal liability for the debts and obligations of the partnership. Each partner’s liability is limited to their investment in the LLP, and they are protected from the actions of other partners.