Opportunity Cost. Share: In economics, âthere is no such thing as a free lunch!â Even if we are not asked to pay money for something, scarce resources are used up in production and there is an opportunity cost involved. Opportunity cost measures the cost of any choice in terms of the next best alternative foregone. 1  Work-leisure choices: The opportunity cost of deciding not to work an extra ten hours a week is the lost wages foregone.
According to Bridgefield Group, a third party logistics provider, or 3PL, âis an outsourced provider that manages all or a significant part of an organizationâs logistics requirements and performs transportation, locating and sometimes product consolidation activities.â.
Benefits of the 4PL organisation include: 1  Improves accountability. 2  Retains corporate supply chain knowledge. 3  Realises revenue opportunities by selling the supply chain services to external clients. 4  Addresses operational failures of 3PL services because the new entity allows the creation of a totally new culture.