A receptacle exchange for a pick or put receptacle and method for exchanging a pick or put receptacle includes a process location at which an operator processes a receptacle by picking articles from or putting articles to a receptacle. A lift moves a receptacle from a supply location to the process location. An extractor retrieves a receptacle from the process location to an extracted location. A first drive elevates the lift between the supply location and process location and moves the extractor between the process location and extracted location. A second drive moves an inclination of the extractor. A control controls the first and second drives.