Ryder Named Leader in the 2021 Gartner ‘Magic Quadrant for Third-Party Logistics, North America’ Report

Rhea-AI Summary

Ryder System, Inc. (NYSE: R) has been recognized as a 'Leader' in Gartner’s 2021 'Magic Quadrant for Third-Party Logistics, North America'. This evaluation of 19 logistics providers highlights Ryder's capabilities in navigating supply chain challenges during the pandemic. The report emphasizes the importance of agility and adaptability in 3PL services. Ryder continues to invest in technology and service to enhance operational efficiency and customer experience. The company has held a leadership position in this quadrant since 2017.

Positive

• Recognized as a 'Leader' in Gartner's 2021 'Magic Quadrant for Third-Party Logistics'.
• Demonstrated strong capabilities in handling supply chain disruptions due to the pandemic.
• Continues investment in technology and services to improve operational efficiency.
• Maintained leadership position in the Magic Quadrant since 2017.

Negative

• None.

Ryder System, Inc. (NYSE: R), a leader in supply chain, dedicated transportation, and fleet management solutions, announces that it is positioned in the “Leader” category for the 2021 “Magic Quadrant for Third-Party Logistics, North America” research report by Gartner, a leading information technology research and advisory company. The report evaluates 19 third-party logistics (3PL) providers in the U.S., Canada, and Mexico based on capabilities, strategies, services, and customer-preferred operating models. The Leader category includes those positioned highest in Completeness of Vision and Ability to Execute.

Ryder recognized for proprietary technology, last-mile delivery, and cross-border solutions; positioned in the “Leader” category for the 2021 “Magic Quadrant for Third-Party Logistics, North America” research report by leading information technology research and advisory company Gartner. (Photo: Business Wire)

“Now, more than ever, shippers are turning to 3PLs as strategic partners with the pandemic having underscored just how critical it is for supply chains to be resilient in the face of disruption,” says Steve Sensing, president of supply chain solutions for Ryder. “The key is to work with a 3PL committed to investing in and deploying best-in-breed technologies that work together to increase operational efficiency across the supply chain and create a competitive advantage for customers, ultimately improving the end-consumer experience. Over the past 15 months, we have worked tirelessly to help customers ramp up their last-mile delivery solutions to keep pace with skyrocketing e-commerce demands, while also providing cross-border solutions to help customers gain greater control over their inventory and speed their products to market.”

According to Gartner, “One major differentiating capability for this Magic Quadrant is the 3PL’s ability to demonstrate agility, adaptability, and resilience throughout the COVID-19 pandemic. As with any major disruptive event, customer needs became quite fluid, and responding quickly to those rapidly changing needs is a key critical factor. Providers that successfully demonstrated agility, adaptability and resiliency through the crisis were able to provide better support to their customers. That support was instrumental in helping customers deliver on the strategic imperatives of their organization. Vendors that were able to identify key logistics trends and demonstrate concise, deliberate and effective action taken in response to those trends scored higher in the Completeness of Vision and Ability to Execute.”

The Gartner Magic Quadrant description states, “Leaders rate well on the highly weighted criteria for both Ability to Execute and Completeness of Vision. These strong performing and full-service 3PLs offer a broader portfolio of logistics functions and typically value-added services that span the end-to-end supply chain and have specific industry variations that customers can leverage. They understand North American logistics market drivers, regional nuances and customer needs, and translate that understanding into service offerings that are locally fit for purpose and supported by the use of leading technologies. Leaders have well-structured strategies and business models that support the continued expansion of their regional capabilities and service coverage. Customers trust and rely on Leaders to help them achieve top logistics performance within the U.S., Canada, and Mexico.”

That is why Ryder continues to make strategic investments in technology and service across its business in order to provide competitive advantages and drive business outcomes for its customers. In addition, the company launched RyderVentures, a corporate venture capital fund, created to invest in start-up companies tackling disruptions driven by accelerating demand for e-commerce fulfillment, asset sharing, next-generation vehicles, automation, and data analytics, among others. Ryder’s goal is to identify earlier in the process those innovative technologies that address customer pain points and then work alongside the start-ups developing them to speed solutions to market.

Ryder has been a Leader in the “Magic Quadrant for Third-Party Logistics, North America” since 2017.

Gartner, ‘Magic Quadrant for Third-Party Logistics, North America’, Farrah Salim, David Gonzalez, Susan Boylan, Brian Whitlock, Chris Kina, May 17, 2021

Gartner Disclaimer
Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner's research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.

About Ryder
Ryder System, Inc. (NYSE: R) is a leading logistics and transportation company. It provides supply chain, dedicated transportation, and fleet management solutions, including full service leasing, rental, and maintenance, used vehicle sales, professional drivers, transportation services, freight brokerage, warehousing and distribution, e-commerce fulfillment, and last mile delivery services, to some world’s most-recognized brands. Ryder provides services throughout the United States, Mexico, Canada, and the United Kingdom. In addition, Ryder manages nearly 235,000 commercial vehicles and operates more than 300 warehouses encompassing approximately 64 million square feet. Ryder is regularly recognized for its industry-leading practices in third-party logistics, technology-driven innovations, commercial vehicle maintenance, environmentally friendly solutions, corporate social responsibility, world-class safety and security programs, military veteran recruitment initiatives, and the hiring of a diverse workforce. www.ryder.com

Note Regarding Forward-Looking Statements: Certain statements and information included in this news release are "forward-looking statements" within the meaning of the Federal Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on our current plans and expectations and are subject to risks, uncertainties and assumptions. Accordingly, these forward-looking statements should be evaluated with consideration given to the many risks and uncertainties that could cause actual results and events to differ materially from those in the forward-looking statements including those risks set forth in our periodic filings with the Securities and Exchange Commission. New risks emerge from time to time. It is not possible for management to predict all such risk factors or to assess the impact of such risks on our business. Accordingly, we undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.

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View source version on businesswire.com: https://www.businesswire.com/news/home/20210610005809/en/

FAQ

What is Ryder System's position in Gartner's 2021 Magic Quadrant?

Ryder System is recognized as a 'Leader' in Gartner's 2021 Magic Quadrant for Third-Party Logistics in North America.

How long has Ryder been a Leader in Gartner's Magic Quadrant?

Ryder has been a Leader in the Magic Quadrant since 2017.

What are the key differentiators for Ryder in the logistics sector?

Ryder's key differentiators include agility, adaptability, and strategic investments in technology and services.

How does Ryder address supply chain disruptions?

Ryder addresses supply chain disruptions by demonstrating agility and adaptability, particularly highlighted during the COVID-19 pandemic.