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.
3PL vs 4PL: What are these PLs, Anyway? Layers of Logistics Explained. Learning the difference between a third party logistics (3PL) and fourth party logistics (4PL) as well as 1PL and 2PL , and the rise of even Fifth Party Logistics (5PLs) is both confusing and highly debated among those in the supply chain industry.