Evan Armstrong, president of Armstrong & Associates, knows the warehousing market: His firm conducts research into this segment and others in the supply chain. In fact, since1980, the Armstrong has published research from nearly 400 global logistics providers on a variety of industry sectors including freight forwarding, warehousing, supply chain management and customer relations.
Armstrong is slated to present on “3PL Market Trends, Strategic Planning and Growth Strategies,” during the 2014 IWLA Convention & Expo, March 23-25, in Phoenix, Ariz. The session, the afternoon of March 25, will focus on how to grow from a small- to medium-sized warehouse-based third-party logistics provider.
Armstrong’s perspective offers a unique advantage to attendees. “Through my consulting and research, I have experience both sides of the equation, helping companies outsource to 3PLs and assisting 3PLs in strategic planning,” Armstrong says.
Here are some highlights from Armstrong’s session:
- Growth Areas: Armstrong will identify market leaders and growth rates by North American industry sectors. “Industrial manufacturers are making a comeback in revenue growth as well as increases in the health care sector as a result of cost control and the movement away from only working with distributors,” he says.
- Average Revenues by Industries and Commodity: Armstrong’s data reveal distinctive characteristics within each market segment that can amplify profitably for warehousing and logistics providers.
- Transportation Management Strategies: Armstrong will highlight expanded service offerings that complement emerging customer needs for an efficient supply chain.
Armstrong will tailor his content to address a rising challenge specific to IWLA members: competition. “With fewer and fewer local warehousing companies, more regional and national value-added warehousing and 3PL providers are getting good at re-engineering supply chain networks to drive out waste. The increasing adaptation of lean management principles over the last five years is building the overall performance quality,” Armstrong says.
Yet, Armstrong says, the opportunity for growth exists with the right formula. “The U.S. 3PL market has an average compound growth at 10 percent per year, but it requires the right strategy,” he says.
Don’t miss Armstrong Tuesday, March 25, 2014, at 1:30 p.m. during the IWLA Convention & Expo in Phoenix, Ariz. Register before Feb. 14 at a reduced early-bird rate.