Amazon expands supply chain services
· UPIMay 4 (UPI) -- Retail giant Amazon announced Monday that it will open its supply chain networks to other businesses as part of its new Amazon Supply Chain Services, which includes freight, distribution, fulfillment and shipping aspects.
Stocks for FedEx and UPS, both competitors in this field, sank about 10% Monday afternoon in response, CNBC reported, while Amazon stocks stayed steady.
The announcement from Amazon said the company has built "one of the most reliable and efficient supply chains on Earth -- from freight that moves cargo across air, land and sea, to fulfillment centers that pick and pack millions of orders a day, and a parcel shipping network that delivers packages every day of the week."
It listed the company's more than 80,000 trailers, more than 24,000 intermodal containers and more than 100 aircraft operated with carrier partners and said that services will be offered to businesses of all types and sizes.
As part of Monday's announcement, Amazon also announced that companies Procter & Gamble, 3M, Lands' End and American Eagle Outfitters have signed on to use Amazon Supply Chain Services.