E-commerce key to MSC Industrial's Q2 sales growth | Walmart distribution centers to go high-tech after layoffs | Amazon-iRobot deal under review by UK antitrust regulator
E-commerce drove 62% of MSC Industrial Supply's sales in the company's fiscal second quarter, and the distributor plans to continue building out its digital channel, "which includes all aspects of MSC's digital engagement with customers, suppliers and associates," Chief Financial Officer Kristen Actis-Grande said. Acquisitions also fueled growth in the second quarter, with MSC completing deals for Buckeye Industrial Supply and True-Edge Grinding in January.
Walmart plans to lay off 2,000 workers at US distribution centers and intends to move 55% of its packages through automated technology such as autonomous forklifts and robots by 2026. By the end of 2023, more than 30% of Walmart stores will be served by the automated distribution centers, and that number is slated to increase to 65% by 2026, says Walmart's executive vice president of supply chain David Guggina.
The UK Competition and Markets Authority is looking into Amazon's $1.7 billion acquisition of vacuum manufacturer iRobot over concerns that the deal would lead to "substantial lessening of competition" in the country. In the US, the Federal Trade Commission is already reviewing the deal, and both companies have said they are cooperating with the regulatory agencies.
Social Commerce 101: Evolve with consumers Join industry experts from Square and SmartBrief as they discuss how to take advantage of consumers' shifting shopping habits and tap into social media -- especially as Generation Alpha, which views social media as a way of life, increases its influence in retail. Watch now.
Inventory gluts are hurting the bottom line for many companies, and supply chain managers indicate the problem is not likely to disappear before the start of 2024, according to the latest CNBC Supply Chain Survey. More than one-fourth of companies reported selling products in secondary markets to avoid high storage prices and potential losses.
Generative artificial intelligence technology can bring new life to supply chain work by tracking sustainability efforts, avoiding translation issues and scrutinizing data from a variety of systems to find patterns and possibilities, writes manufacturing insights executive Jan Burian of International Data Corp. First, however, companies "must test, develop, deploy, and create focus groups" related to AI so they can be "100% sure about its accuracy, reliability, and scalability," Burian asserts.
Business-to-business marketers categorized as "leaders" are more likely than others to say they have a common plan with sales and that both teams collaborate strongly, according to a study by The Marketing Practice. In addition, 25% of "leaders" say their brand activation is "extremely creative," compared to 8% of others, and 37% of "leaders" have upped their budgets because it's an optimal time to increase market share.
Insider Intelligence predicts more than 50% of business-to-business ads will be on mobile devices this year, which will require brands to adjust to ensure optimal engagement, writes Laura Schiele of Jordan Digital Marketing. Schiele highlights five errors to avoid, including failing to adapt creative for mobile devices, overlooking the value of CRM data tracking to measure conversions, and assuming "that every channel that performs on desktop should be part of your mobile mix."
Some leaders may adopt a specific "persona" in the office, but if your values and actions are incongruent, others will notice, writes executive coach John Rex, who recommends clearly identifying your values based on experience, faith and other practices. Leaders who have the most influence, notes Brian Smith, the founder and senior managing partner of IA Business Advisors, are those who also emphasize accountability for themselves and others and know how to identify their own biases and appreciate others.
When a conversation partner seems emotionally "off" in some way, Lara Hogan recommends becoming a "thermostat" instead of a "thermometer" by using body language to signal that you're listening deeply to them and suggesting postponing further discussion to give them time to recover. "Your whole goal here is to set or reset the temperature of the room by modeling it with your tone, body language, and word choice," Hogan writes.
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