Judging by the first part of 2023, Todd Peters of Kitting and Assembly Solutions is optimistic that the rest of the year is going to be good for business.
"The last few months were good," he said of his Colorado-based Third-Party Logistics firm. "They were profitable."
Todd's confidence is reflected in the global 3PL outlook. According to an analysis titled, "Third Party Logistics (3PL): Global Strategic Business Report," the global market for Third Party Logistics, estimated at $974.6 billion in 2022, is projected to reach $1.9 Trillion by 2030, thanks to a CAGR of 8.4%.
In addition to the global outlook, Todd is confident because, as he looks ahead, he reflects on the endurance of the distribution industry in which he works. Todd's industry, he pointed out, has been around a long time and has for centuries been helping the human race expand around the world by simply moving items from Point A to Point B.
The ancient Greeks, the Romans, any expansive empire that stretched across the world needed to deliver goods to points far and wide. Ships brought goods-including tea-from England to the American colonies. Then, outfits like the transcontinental railroad and Pony Express, along with covered wagons, moved supplies westward as Americans fulfilled their manifest destiny.
"There's been distribution since the dawn of time-and it's always growing," Todd said. "This is the last industry that will go out of business."
On top of that, the distribution pipeline can offer insight on how the economy at large is unfolding at any given moment, Todd said.
"We're the indicator of whether you're in a recession or a depression, because if we're struggling, then everybody's struggling, because everybody still needs products," Todd said. "How do you get your food? Somebody has got to take it to the grocery store, right? It's distribution-it was the same in the old days."
Colorado-based Kitting and Assembly Solutions is a Third-Party Logistics firm that provides a range of services, including Amazon FBA Prep; kitting, labeling, assembly, custom packaging, shipping, receiving, storage and quality control.
Kitting and Assembly Solutions can receive, pack and ship your Amazon products as individual units. The company can also customize boxes and labels for shipment to Amazon; assemble a wide range of products; and store your inventory on-site for future use.
Todd knows plenty about the endurance of the 3PL and distribution industry.
He has been working in warehouses for three decades, since age 16, and launched his career as a boss by running small operations. He quickly assumed larger responsibilities by managing two 150,000-square-foot warehouses, with 50 employees each.
He launched Kitting and Assembly Solutions in his garage nine years ago; employs 12; and the company now occupies a 10,000-square-foot warehouse not far from Denver.
Visit kittingandassemblysolutions.com to learn more.
