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.
Logistics is at the heart of everything around you. Have you ever thought about how items like your electronics or your groceries get to the store? CoyoteÂ® is a leading third-party logistics (3PL) service provider, responsible for coordinating and moving goods bought and consumed every day across North America.