TIA2023 Conference Shatters Attendance Record as Industry Faces Inflection Point
TIA2023 Capital Ideas Conference: An Attendee's Perspective
By Curtis Hazel
The 2023 edition of TIA’s annual conference was it’s largest ever, surpassing last year by nearly 500 more attendees. As a first-timer, I can appreciate why this event continues to grow in popularity. The conference was loaded with useful, insightful content from beginning to end for a wide swath of industry professionals, from operators to salespeople and technical and legal staff.
The conference general session kicked off with the presentation of two prestigious awards: the Tom Fiorini Heritage Award, which was won by Ron Usem, and the Distinguished Woman in Logistics Award, which was won by Erin Van Zeeland, Chief Commercial Officer of Schneider. Both recipients were acknowledged for their long-term service to the industry’s most prestigious association, and were well-deserved.
The key theme of the conference was the inflection point the industry faces across several critical issues. Advocacy was stressed as being crucial during this time, as the industry is facing challenges such as the AB5 contractor issue and the loss of independent contractors. There was also concern about the misguided attack on rates in the industry by regulators and rampant fraud by rogue imposters.
Anne Reinke, President and CEO of the Transportation Intermediaries Association (TIA), stressed the importance of the organization's purpose: education, networking, and advocacy, during her comments at the general session. TIA offers two educational programs, the Executive Leadership Program and the TIA Certified Transportation Brokers designation. Reinke added that TIA is collaborating with universities to provide additional educational resources for logistics programs across the country. With a membership of 1,912 transportation industry professionals, TIA is committed to setting the standard for conducting business ethically and honestly and positioning its stakeholders as the secure link in the supply chain.
Due to the current economic climate, the volume of business for TIA members is trending lower than last year, but still higher than the trend line in 2018, thanks in part to record growth in 2021. However, TIA recognizes that three important issues must not be ignored: safety, fraud in the marketplace, and rate intrusion. In regards to rate intrusion, TIA believes that regulatory agencies, while critical to ensuring public safety, should not be involved in business negotiations between trading partners.
The keynote session at the conference featured two highly regarded economists, Donald Broughton of Broughton Capital and Noel Perry of Transport Futures. Perry commented on the current state of the industry, noting that spot rates are lower than contract rates, a rare occurrence, and that the mix between goods and services has flipped since the pandemic. He predicted that prices would be down by 6-8% and volume down by 3% for the remainder of the year. Broughton, however, had a much more positive outlook for the next decade, predicting a "great post-COVID boom" and considering many current negative views on the economy to be overinflated. He emphasized using sound logic and common sense when planning for business investment decisions and not falling for clickbait forecasts on the economy.
Day one of the conference also featured several breakout sessions on various topics, including building a carrier selection strategy, what to do when the market turns, dynamic pricing, and consolidation in the freight brokerage industry.
A highlight for me was visiting the Freedom Drivers Project by Truckers Against Trafficking (TAT). The Freedom Drivers Project provides a glimpse into the realities of human trafficking, how transportation is driving change in the area and simple action steps anyone can take to fight it. Visitors to the conference were able to walk through the exhibit and speak with representatives from the organization. TIA is an enthusiastic supporter of TAT, and for good reason, the organization does an amazing job of crowdsourcing workers in the supply chain to identify and report acts of human trafficking.
Day two of the conference was full of relatable content for brokers, featuring the industry’s top thought-leaders speaking to critically important topics, such as freight tracking, sustainability, best technology platforms and recruiting talent, just to name a few. The expo hall was filled to capacity with exhibitors showcasing a lot of new tech for the industry, and networking opportunities were unlimited for conference attendees.
Overall, the TIA2023 Capital Ideas Conference provided valuable insights and discussions on the current state and future of the transportation intermediaries industry. With a focus on education, networking, and advocacy, TIA is committed to leading the way towards a secure and prosperous future for its members.
