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.
By analyzing individual supply chain needs, a non-asset based 3PL can evaluate how a companyâs supply chain is working and how it can be improved. Non asset based 3PLs can work with companies to identify the best approach to meet the demands of their industry and customers. By designing a supply chain that fits a companyâs specific needs, non-asset based 3PLs can apply their flexibility that allows them to respond to clientsâ needs on a case-by-case basis.