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.
Yesterday I wrote plainly about the difference between asset based and non-asset based 3PL companies. Simply put, the difference between the two is that asset based 3PL own parts of the supply chain such as trucks, warehouses, and more. A non asset 3PL does not own any of these, and is typically agnostic in the way of warehousing and transportation providers. Today I will discuss the advantages and disadvantages of each. Typically, the advantage of one is a disadvantage of the other's.