Amazon launches supply chain services to offer its logistics network to other businesses

Amazon.com is opening its supply chain network—spanning ocean, road, rail and air freight, plus warehouses and sorting hubs—to companies in retail, healthcare, and manufacturing through a service called 'Amazon Supply Chain Services.' The company has already signed up Procter & Gamble, 3M, and American Eagle Outfitters.

Businesses using the service gain access to Amazon's two-to-five-day delivery timelines, warehousing, and inventory forecasting capabilities. Amazon operates a fleet of more than 100 cargo planes, behind only FedEx and UPS.

Amazon's stock rose as much as almost 3% on the announcement, while UPS fell as much as 10% and FedEx dropped more than 9%.