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April 14, 2022 by Logistics

What does it cost to hire a third-party logistics company to manage your transportation?

Often, a third-party logistics Company (3PL) can allow you to save money!

The cost to hire a Third-Party Logistics Company (3PL) is usually done on a pay as you go basis.

For example, if you use a 3PL to handle and manage your transportation needs, the typical way that they charge you is by marking up their transportation costs before they invoice you.

Here are some good reasons to hire a 3PL to manage your transportation:

  1. BUYING POWER: Riverside has numerous clients, using the same carrier base. This allows them to leverage this volume into lower rates than if you dealt directly with the carrier yourself. The amount of discount and reduction that Riverside receives, plus our markup percentage, is usually very competitive to the level of cost you yourself could find or negotiate. This means that we are usually more competitive, even with our markup than you would be on your own. Lower cost means cost savings.
  1. EXPERIENCE: Riverside has negotiating experience across many industries. We know carriers give more competitive pricing the better they understand the characteristics of the freight (i.e. commodity, dimension, weight, origin, destination and product value). Our goal is to find the best cost/service ratio for our customers using our visibility of a larger network portion of the supply chain.
  1. MANAGEMENT: Riverside has experience and expertise that allows us to be your Transportation Department. This means you don’t have to pay for a staff to manage and execute your transportation needs. We do it. This represents a substantial advantage to you. We handle all your freight audit and pay activity, making sure that the invoices are fully documented and are correct before we pay them. 
  1. SYSTEMS: Riverside uses technology to capture the relevant transportation data to efficiently run your business. This is important in today’s supply chain. It means we can track your shipments, transaction cost, and shipping and receiving metrics. All this can be done in real time. A 3PL utilizes these systems to properly manage and execute a logistics strategy that keeps you competitive.

In summary, a transportation 3PL brings a disciplined approach to purchasing and executing your transportation strategy. The ultimate goal is delivering service to your customers at a competitive price while saving you money.

Filed Under: Transportation News Tagged With: Federal Legislation, Freight near Richmond Virginia, Richmond, Third Party Logistics, Third Party Logistics (3PL), Transportation Broker, Trucking Companies near Richmond Marine Terminal, Virginia

May 28, 2015 by Logistics

Riverside Logistics is licensed as a wholesale distributor of prescription drugs and/or devices in Virginia and in 32 other states.

As a third party logistics (3PL) provider, Riverside Logistics contracts with our customers to handle their warehousing and distribution needs. Some of our customer’s products require us to be licensed not only by our own state, but also by the states we ship our customer’s products. Riverside Logistics is licensed as a wholesale distributor of prescription drugs and/or devices in Virginia and in 32 other states.

Recently, federal legislation known as the Drug Supply Chain Security Act was passed which prohibited states from regulating 3PL’s as wholesale distributors. The FDA is currently developing federal standards for licensing 3PL’s which is expected to be completed in late November 2015. Two states, California and Florida, have already developed their own license requirements for 3PL’s and Riverside Logistics has begun the process of meeting those requirements and applying for the licenses.

Riverside Logistics will continue to monitor both federal and state licensure requirements to ensure we meet the necessary requirements to provide our customers with the most efficient, cost effective services available.

Filed Under: News & Events Tagged With: 3pl, California, Drug Supply Chain Security Act, East Coast, Federal and State Licensure requirements, Federal Legislation, Florida, Licensed Wholesale Distributor, Richmond, Riverside Logistics, Supply Chain, Third Party Logistics, Virginia, Warehouse, wholesale distributor of prescription drugs

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