Decision making for selecting 3PL service provider using three parameter interval grey numbers

Outsourcing logistics functions to third party logistics (3PLs) has been a source of competitive advantage for every enterprise. Most enterprises cite greater flexibility, operational efficiency, improved customer service levels, and a better focus on their core businesses as part of the advantages of engaging the services of 3PLs. Deciding to a explore a third party logistics company is a managerial decision that depends on a variety of factors that may differ from business to business. The decision to outsource certain business functions depend on the company's plans; future objectives, product lines, expansion, acquisitions, etc. In this context, the present work develops a grey‐based appraisement module to facilitate decision‐making towards selection of 3PL service providers. The theory of three parameter interval grey number has been adopted to aid the said decision cum evaluation problem.