Amazon opens up logistics network to other businesses in challenge to UPS, FedEx
· Source: economictimes.com
In short
Amazon.com announced the launch of 'Amazon Supply Chain Services,' allowing other businesses to store and ship goods through its vast logistics network spanning ocean, road, rail, and air. Major companies like Procter & Gamble and 3M have already signed on. The move directly challenges incumbents UPS and FedEx, whose shares fell more than 9% on the news.
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Tags: logistics, supply chain, fulfillment, e-commerce, freight, warehousing