Last week, Extensiv attended the IWLA (International Warehouse Logistics Association) Convention & Expo, the premier event for education, networking, and product/service information in the warehouse logistics industry.
The conference kicked off with a golf tournament where some Extensivites played games with attendees at our sponsored golf hole. Several attendees won some awesome prizes, and we ran into a few customers on the course as well!
At the convention, Extensiv highlighted several products: Integration Manager, Network Manager, 3PL Warehouse Manager, Labor Analytics, Billing Manager, SmartScan, Small Parcel Suite, and Fulfillment Marketplace.
Extensiv Integration Manager was a hot topic for 3PLs wanting to understand how to support and connect to their customers’ systems. Network Manager was also a popular topic when 3PLs realized they can expand their revenue opportunities and geographic footprints without the additional headaches or costs associated infrastructure costs.
We thoroughly enjoyed our conversations with other vendors and warehouses looking to improve their fulfillment technology stacks, and we were so happy to see our customers as well, including Image Microsystems, Productiv, Medallion Fulfillment & Logistics, and more... and a big congrats to our Apple AirPod Raffle winner, Stefan Freeman with Partners Warehouse LLC.!
Read on below for the Extensiv team’s insights from the conference:
Alex Gorney, Sr. Account Executive Team Lead
It was great making connections with several of our customers and gauging how things are going in their world. The biggest takeaway I had from the event was how much 3PLs are further embracing technology in the face of a more competitive labor landscape and declining customer prospects in the early part of 2024.
Brian Harvey, Fulfilment Strategy Manager
During the 2024 IWLA Conference in Orlando, I was fortunate enough to attend the Keynote session featuring Connor Lokar, an economist at ITR Economics, titled “Recession – Depression & Growth, Oh My!!” Conor brought an energetic and uplifting presentation on a topic that weighs heavy on all business owners, especially companies within the 3PL/warehousing sector.
The golden nugget that I took away from Conor’s future economic predictions is for businesses to leverage their resources and capital in 2024 to better position themselves for a 2025/2026 economic rebound and surge. It would be wise to use 2024 to invest in your people, processes, and technology to optimize your current operation for a more aggressive growth strategy.
Some key takeaways from ITR Economics:
- “Starting in 2025, we are expecting the economy to trend upward and generally continue to grow leading up to the 2030s. After the temporary lull this year, US Industrial Production is expected to climb, and we expect US GDP to continue to grow as well. Nevertheless, the economy is likely to help provide organic growth opportunities for businesses with the right plans in place to meet their inventory and capacity needs. This expected economic growth will make it easier to grow your business, without the need to take market share by entering new regions or new vertical markets.”
- Inflation will remain elevated; however, the next few years will provide a great opportunity to invest in your business. If you leave money on the sidelines, its buying power will dwindle throughout the decade due to sustained inflation.
- The labor market is still tight, but not at the extreme we saw in 2023. Ensure top performers are satisfied and your compensation packages are attractive to prospective employees. Look to automate as much as possible.
Our Extensiv platforms—3PL WMS, Network Manager, Fulfillment Marketplace, Billing Manager, Labor Analytics, and our Warehouse Assessment consulting offering—are all tools developed to help maximize our customers business growth and accelerate revenue potential.
Eric Schneck, Warehouse Operations Strategy Manager
IWLA was an amazing experience and opportunity to see our industry in action. Seeing what technologies are on the market to support warehouses and how warehouses are looking to further improve their businesses provided a meaningful snapshot of our industry.
Learning more about how to crawl, walk, and run in terms of orchestrating a parcel program was insightful and enriching. It was great to see competitors coming together to help each other expand and grow their businesses.
The convention further re-affirmed that there isn’t a “one size fits all” approach to implementing a small parcel offering but rather it requires a collection of tools that make sense for your specific position in your business. Re-evaluating your technology stack and parcel vendors is imperative to having continued success.
Closing Thoughts
We had a fantastic time at the 2024 IWLA Conference and look forward to seeing you in 2025! If you haven’t already, be sure to sign up for the IWLA 2025 Convention and Expo!
Watch our recap here:
