TD Synnex CEO reflects on Q1, looks ahead to the future | Beer, wine wholesalers disagree over Ind. liquor legislation | Alibaba undergoes major corporate restructuring
IT distributor TD Synnex reported that fiscal first-quarter revenue fell 2% from a year earlier "due to the PC ecosystem being weaker than we had projected," CEO Rich Hume says in this interview. Looking ahead to the rest of the year, Hume says the company will "continue to invest in an accelerated way in our high-growth technologies: cloud, analytics, IoT, cybersecurity, hyperscale infrastructure."
Beer wholesalers are clashing with wine and spirits wholesalers over Indiana legislation that would recategorize liquor-based mixed beverages. Wine and spirits distributors worry the bill could increase prices for consumers, while beer wholesalers say they should be allowed to sell those products and that there shouldn't be any price effects.
E-commerce giant Alibaba is undergoing its most significant reorganization by splitting into six business groups that have the ability to independently raise outside funding and go public. The move is part of an effort to increase value for shareholders, boost market competitiveness and become more agile, according to company statements.
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US parcel volume totaled 21.2 billion in 2022, which was down 2% year-over-year but still 1 billion units ahead of pre-pandemic estimates for the period and followed 6% and 33% growth for 2021 and 2020, respectively, according to Pitney Bowes. Carrier revenues reached a record-breaking $198 billion for the period with UPS capturing the most revenue and market share, followed by FedEx, the USPS and Amazon Logistics.
The efforts of trucking professionals to recruit more women into the profession are slowly bearing fruit, with women making up 14% of professional drivers in 2022, up from 7.9% in 2018. Women also fill 33% of C-suite positions, compared with 24% in 2018. Ellen Voie, CEO of Women in Trucking, touted women's safety records on the road as well as their communication and organizational skills as reasons that women are a good fit for the industry.
Millennials and members of younger generations are driving more business-to-business purchasing decisions and increasingly prefer to make business purchases online and through social media and interactive displays, according to an Intershop report. Other trends on the rise are greater use of artificial intelligence in search and recommendations, and faster-loading progressive web apps that can be used on any device.
It's worth the time for leaders to build a culture of respect, says S. Chris Edmonds, because it will result in more productive and engaged workers who will enjoy collaborating with one another "to achieve common goals." "A respectful work culture creates a positive, purposeful and productive environment," Edmonds says.
