Frost & Sullivan, a global growth consulting company will recognize top third party logistics (3PL) firms at the second annual Frost & Sullivan 2007 ASEAN 4 Logistics Awards – Voice of the Customer awards banquet on Friday, 20 July 2007 at Pan Pacific Hotel, Singapore.
The awards banquet is held annually to honor outstanding performance and best practices by 3PL companies in Indonesia, Malaysia, Singapore and Thailand based on a Voice of Customer research.
Ms. Aw Kah Peng, Assistant Managing Director at Singapore Economic Development Board will be the Guest of Honor at the awards banquet.
Mr. Kavan Mukhtyar, Partner at Frost & Sullivan says the award recipients will be identified based on an in-depth research conducted by Frost & Sullivan within five end-user industries, covering 270 respondents. The industries include automotive, pharmaceutical, retail, fast moving consumer goods and IT/ electronics. This year, Frost & Sullivan has also introduced a new category – Domestic Logistics Service Provider to honor and recognize local companies in Indonesia, Malaysia, Singapore and Thailand.
He said that the Voice of the Customer research provides logistics service providers (LSP) with a world-class benchmark to help them serve their customers’ needs better.
“We believe that a comprehensive analysis on best practices is an invaluable source to logistics companies. Such an analysis will also enable the companies to formulate strategies and to better their business processes which will ultimately drive corporate growth,” he added.
The research is also aimed at identifying logistics user trends and preferences as well as the best contract LSPs in five major end-user sectors in Indonesia, Malaysia, Singapore and Thailand.
Research parameters include the LSPs network reach, warehouse facilities, affordability, fleet size, information security standards, decision support tooling and response to complaint or problem.
Mr. Mukhtyar says that at an overall level, 3PL markets in most ASEAN countries are still at an evolutionary stage, with penetration limited mostly to multinational companies.
He observes that transportation was the most outsourced logistics function to 3PL service providers, while information management was the least outsourced logistics function.
Growing economic prosperity, government support and improving infrastructure are expected to drive 3PL market revenues in ASEAN, he adds.
The Frost & Sullivan 2007 ASEAN 4 Logistics Awards is supported by the Singapore Economic Development Board, Supply Chain Asia and The Logistics Institute - Asia Pacific. Media partners for the event include Netremedia Pte Ltd, Business Today, US-based Logistics Management and Supply Chain Management Review. Sponsors for the awards include Aspect Software.
About Frost & Sullivan
Frost & Sullivan, a global growth consulting company, has been partnering with clients to support the development of innovative strategies for more than 40 years. The company's industry expertise integrates growth consulting, growth partnership services, and corporate management training to identify and develop opportunities. Frost & Sullivan serves an extensive clientele that includes Global 1000 companies, emerging companies, and the investment community by providing comprehensive industry coverage that reflects a unique global perspective and combines ongoing analysis of markets, technologies, econometrics, and demographics.