SMC³'s Summer Meeting Examines Transportation Industry Consolidation
Peachtree City, GA - June 23, 2004—Shippers, carriers and other transportation professionals acquired knowledge for use in adapting and evolving through industry change during the SMC³ 49th Annual Summer Meeting, which took place June 16-18 in Williamsburg, Va.
The three-day Summer Meeting, "The Big Squeeze: Understanding Transportation Industry Consolidation," focused on the driving forces behind transportation industry consolidation and featured presentations on how consolidation appears today, including mergers, acquisitions and service integration.
Speakers on energy, the economy, legislation and political issues presented their views on the geopolitical factors of the 2004 election, giving participants an outlook on the underlying dynamics that could affect business.
"Having knowledge about the factors impacting industry consolidation and an understanding of geopolitical issues is necessary for transportation company executives and employees to succeed in today's changing transportation marketplace," said Jack E. Middleton, SMC³ president & CEO.
Keynote Speaker Robert Stevenson opened the meeting with a message to the audience to "take it to the next level." He spoke about the importance of flawless execution, dealing with change, inspiring employees and realizing that success is never final.
The bulk of Thursday's sessions analyzed consolidation and competition. Theodore R. Scherck, president and CEO, The Colography Group Inc., spoke about key factors that will drive logistics competition in the 21st century. Jon A. Langenfeld, vice president, equity research, Robert W. Baird & Co., explained that customer demands, supply chain complexities and a slowing growth in the core markets are the recent factors causing carrier and service consolidation.Lee A. Clair, senior partner, Norbridge Inc., spoke about consolidation's impact on capacity, rates and services in the LTL industry.
John R. Bagileo, principal, The Law Firm of John R. Bagileo, concluded Thursday's educational sessions with an update on regulatory and legislative matters of importance to the industry including the Federal Motor Carrier Safety Administration hours of service regulations and the Surface Transportation Reauthorization Act.
An energy expert, a renowned economist and an acclaimed political analyst comprised the panel for Friday's update sessions. Michael J. Economides, professor, Cullen College of Engineering, University of Houston, spoke about oil prices in the post-Operation Iraqi Freedom era and OPEC and Russia's positions in the oil industry. Donald Ratajczak, consulting economist, presented his forecast of upcoming economic impacts on the transportation industry.Larry J. Sabato, Robert Kent Gooch Professor of Politics, University of Virginia, gave an analysis of the upcoming elections through his "crystal ball."
"The outstanding presentations made by leaders in their field gave attendees a broad base of information and opinions to draw from," commented Claudia Howard, purchasing manager, Safway Services Inc. (Waukesha, Wis.).
"This meeting is where the real decision makers in the LTL industry come to meet and learn," Chip Matthews, president of Benton Express Inc. (Atlanta, Ga.), said.
SMC³ offers its annual winter and summer meetings to transportation industry professionals as part of the company's commitment to industry education. For more information on SMC³ and its upcoming 50th Annual Winter Meeting scheduled to take place January 25-26, 2005 in Atlanta, Ga., please visit www.smc3.com, phone 800.845.8090 or e-mail info@smc3.com.
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About SMC³
SMC³ is a leading nationwide provider of technology tools for transportation. SMC³ enables its customers to achieve greater success in the marketplace by supplying advanced technology tools, superior data management services and smart processes that ensure the accurate and timely availability of pricing information throughout the transportation community.
SMC³ presently serves more than 5,000 customers throughout the United States, Canada and Mexico, and is committed to remaining at the forefront of technology and pricing intelligence through a dedicated staff and partnerships in the industry. The company is headquartered in Peachtree City, Ga., and has a satellite office in Louisville, Ky.
Company keywords: Technology, Transportation, LTL, Pricing.