CHICAGO, Oct. 10, 2023 (GLOBE NEWSWIRE) -- Redwood Logistics (“Redwood”), one of North America's largest modern 4PL providers, has been named a Representative Vendor in the 2023 Gartner® Market Guide for 4PLs (the “Market Guide”).1 Published on September 19, 2023, the Market Guide discusses industry trends as shippers are pursuing logistics outsourcing strategies that require a partner who can provide a simplified connection to an increasingly complex logistics and supply chain environment.
The Market Guide states that “a 4PL solution relies on the ability to manage operational logistics execution effectively and is empowered by strong technology and integration solutions to drive visibility, transparency and coordinated control of the client’s logistics needs.” For over a decade, Redwood has been delivering 4PL solutions to notable customers such as Honda, Ashley Furniture, and Taylor Farms. Redwood’s proprietary Integration Platform as a Service (iPaaS), RedwoodConnect™, orchestrates supply chain technology and logistics execution in an open ecosystem, granting customers neutrality to choose solutions that fit their unique needs.
Through a 4PL partnership with Redwood, shippers have total flexibility and control to bridge their physical and digital supply chains with customizable logistics workflow and technology solutions tailored to meet distinct supply chain requirements, from TMS and WMS to planning, visibility, IoT ingestion, analytics, and perhaps most importantly, a customer's existing enterprise systems.
As per the Market Guide, “The global 4PL market size was valued at $55.01 billion in 2021, and is forecast to grow at a compound annual growth rate (CAGR) of 5% to 6% to reach $90.95 billion by 2030. This development in 4PL is an essential move for the logistics outsourcing industry as companies look to accelerate the integration of logistics into their value chains to remove bottlenecks associated with complex global supply chains.”
“With over two decades of dedicated service to our 1,200+ customers, we are deeply honored to be acknowledged in the Gartner Market Guide for 4PLs. We believe that this recognition represents a significant landmark in our pursuit to stand as the leading modern 4PL provider,” said Mark Yeager, Chief Executive Officer, Redwood. “Amidst supply chain intricacies, logistical disruptions, internal resource constraints, and the rapid pace of technological advancements, our clients are increasingly seeking partnerships with Redwood to seamlessly streamline their supply chains and achieve tangible business outcomes.”
“Logistics has finally come of age,” the report states. “The function is being elevated and integrated into the supply chain as companies develop networks and ecosystems that better manage risk factors and weaponize logistics in the marketplace. In this dynamic environment, the 4PL logistics outsourcing model can act as an orchestrating layer for internal functions and external service providers and provide a single source of information and visibility.”.
Redwood’s single smart plug for your digital supply chain unlocks access to the open ecosystem app store for logistics and RedwoodConnectTM connects it all. Redwood surpassed 1,000 dedicated employees in 2023, boasts impressive 2022 revenue of $1.3 billion, and a remarkable $5.5 billion in platform freight under management. With a 34% year-over-year growth in SaaS, 12% growth in volume, and continued growth both organically and through acquisition strategies, Redwood continues to solidify its prominent standing in the 4PL market.
To read the complete Market Guide, compliments of Redwood, follow the link here.
Additional Resources:
- Join the Redwood LinkedIn Live on Thursday, October 12, 2023 to hear from Chief Innovation Officer, Eric Rempel and Chief Marketing Officer, Arlyn Knox, on the reactions to the newly released Market Guide.
- Get a free demo of RedwoodConnect™ to see how you can orchestrate your supply chain technology and logistics execution.
- Gartner “Market Guide for 4PLs” Matthew Beckett, David Gonzalez, Michale Dominy; 19 September 2023
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About Redwood Logistics
Redwood Logistics, a leading logistics platform company and modern 4PL headquartered in Chicago, has provided solutions for moving and managing freight for more than 21 years. The company’s diverse portfolio includes digital freight brokerage and flexible freight management all wrapped into a revolutionary logistics and technology delivery model—Logistics Platform as a Service (LPaaS). LPaaS utilizes an open platform for digital logistics that empowers shippers to seamlessly mix-and-match partners, technologies and solutions into their own unique digital supply chain fingerprint. Redwood connects a wide range of customers to the power of supply chain management, technology and the industry’s brightest minds. For more information, visit www.redwoodlogistics.com.
Media Inquiries:
Tyler Thornton
LeadCoverage
tyler@leadcoverage.com
