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When two businesses partner together, this brings about a variety of benefits (and risks, of course). Merging with a 3PL, specifically, can help a company with scaling, expanding geographic reach and footprint, and help with growth in certain industries. The time is right for merging with a 3PL, as the economy improves and interest rates remain low.
What Are the Benefits of Merging with a 3PL?
Expand geographic reach
As more and more shippers become more likely to ship and sell goods outside of their own borders, moving goods internationally becomes more complex. Harnessing a 3PL can help to ease the process, in solving the many challenges that reach beyond traditional methods of transportation and warehousing. While the world becomes more globalized, the process of shipping, sourcing, and selling goods complicates as well. 3PLs and freight forwarders can provide additional international expertise and help to globalize the industry further.
Acquire coverage of specific industries
Many 3PLs specialize in multiple and specific areas of industry, providing exclusive expertise that can help you to expand your reach. A 3PL won’t opt for a simple umbrella solution, but rather, cater to the many needs of your industry. Your solutions will be customized, which will lead to greater efficiency.
Achieve scale
Depending on your changing needs, a 3PL can shift to support them. Alongside geographic reach and specific industries is the ability to scale with a 3PL through a merger/acquisition. Merging with a 3PL can allow you to focus on your growth, however big or small.
Important steps in merging with a 3PL
Systems integration
It goes without saying that a merger/acquisition process involves the integration of systems. Systems and applications used for two respective companies may be very different, and it’s up to both companies to decide how the two models will coincide. The two systems must be brought together through various integrations, in order to create an ideal business process.
Joining transportation models
A company can gain a variety of services by merging with a 3PL. The combination of features of different transportation models can deliver a more valuable operation to customers.
Cultural fit
Many companies involved in a merger/acquisition process have emphasized the significance of an adequate cultural partnership between the two companies. It’s beneficial to join together culturally, though various factors can shift an integration effort’s success. It’s important to recognize and consolidate the differences between companies.
Here at Evans, we’re capable of merging with your business and helping you to grow. Get in touch and we can talk more about how you can scale and expand your reach.