Business Services:
The business services industry is made up of companies providing business-related services to fellow companies (B2B). Companies in this industry offer a portfolio of services, including marketing, advertising, consulting, leasing, legal services, human resources, logistics, shipping, security, staffing, outsourcing, and facility management.
Industry
The business services industry is a broad spectrum of industry related categories of business operations; which provides servicea to other companies. These services include advertising, marketing, consultation, logistics, travel, waste handling, staffing, shipping, administration, and security. Businesses in operation have a specific need for at least one of the different kinds of services offered.
Marketing companies are responsible for increasing sales of a company by aiding the company reach new customers and retain current customers.
Legal services are necessary for business transactions, and litigation purposes.
Logistics and shipping companies are for connecting business products or personnel to other businesses or consumers by picking up, storing, transporting, and delivering products.
Staffing companies match job seekers with temporary or permanent positions, within companies in need of qualified employees.
Leasing companies offer client’s certain items without paying a full purchase price
Security companies are hired for securing the company’s assets.
Consulting companies fulfill expertise needs that clients cannot fulfill internally. These companies may offer scientific, technical, management or strategy consulting, or other consulting resources.
Trends
As businesses are created in emerging markets, such as China and India, the business service industry will follow.
Among business-to-business (b2b) shipping, there is increasing demand for all-in-one solutions where storage services are integrated with transport and other logistical services. Value-added services such as sorting, packaging, controlling goods, managing inventory, order entering, fulfillment, labeling, perfor ming assembly, and marking prices, all of which has helped improve the efficiency of relationships between manufacturers and customers.
Firms rely on new technologies and processes to expedite goods distribution.
Voice control software allows a computer to coordinate workers through audible commands, reducing errors and increasing efficiency. Radio Frequency Identification Devices (RFID) track and manage incoming and outgoing shipments.
Just-in-time shipping is a process whereby goods arrive as they are needed, saving recipients money by reducing their need to carry large inventories.
The personnel staffing market has been changed dramatically by the rise of online staffing such as monster.com, linkedin.com, and jobs.com, where companies will list their available jobs, eliminating the need for a traditional personnel staffing company.
Company Clients and Industry Leaders
Noble Group (Hong Kong), Mitsui & Co (Japan), Moller-Maersh (Denmark), United Parcel Service (United States), Marubeni (Japan)
