Supply chains can aim for a higher purpose by creating "value that helps customers generate wealth as workers, create business outcomes as managers, and create strategic success as market leaders," writes Mark Dancer, senior fellow for innovation with NAW. Dancer outlines insights from NAW's Facing the Forces of Change initiative about how distributors can build more resilient, responsive and regenerative supply chains.

Slowing spending by homeowners and professional contractors, lower lumber prices and inclement weather led Home Depot to report a 4.5% decrease in same-store sales in the first quarter compared to a year ago and a 4.2% drop in revenue to $37.3 billion, ending three years of robust growth and prompting the home improvement retailer to lower its full-year outlook. "What was newer in our observations this quarter is that while projects are still strong and Pro project backlog is still elevated, the size of the projects are getting a bit smaller," said CEO Ted Decker.

Amazon has posted job openings pointing to ambitions by the e-commerce giant to build ChatGPT-style product search capabilities. The AI technology "presents a remarkable opportunity to transform virtually every customer experience," Amazon CEO Andy Jassy said during an April earnings call.

Wholesalers looking to upgrade their technology and develop digital storefronts should work with tech providers to create solutions tailored for their needs that are flexible, scalable, secure and easy to use and implement, writes Paul-Miki Akpablie, CEO of Akos Technologies. Akpablie advises wholesalers to consider not just the upfront cost of new technology, but the ongoing expenses they will incur for maintenance, support and hardware upgrades.

Supply chain capacity is shifting toward a buyer's market, as evidenced by GEP's volatility index, which marked an underutilization of space globally in April that hasn't been seen since June 2020. "After months of companies aggressively destocking, there is now excess capacity in the world's supply chains, providing buyers with greater leverage to extract favorable prices and terms for the second half of 2023 and into 2024," said Volker Roelofsen, GEP's vice president of supply chain consulting.

A strictly relationship-based sales model no longer works in today's economy, in which customers increasingly interact with machines instead of salespeople if given the choice, so companies should refocus their sales teams to pursue new business and add more value to the bottom line, writes Justin Roff-Marsh, president of sales management and marketing consultancy Ballistix. Leaders should "recognize that today's bespoke service is tomorrow's configure-to-order solution -- and that the organization that leads the commoditization of bespoke services is most likely to accrue the greatest economic benefit," Roff-Marsh writes.

Audiences that consume business-to-business content are likely to make a purchase in the next year, according to analysis of a report from lead generation company NetLine. In addition, people who are closer to a purchase choose certain content formats, including special reports, how-to guides and webinars.

It may be easy to spot our strengths, but to identify weaknesses you may need to work on, ask friends and colleagues to help and use assessments such as Myers-Briggs and other tools to narrow down areas you want to improve, writes executive coach Tom Rose. "Listening, incorporating others' feedback, and benefiting from the superior tools available requires a commendable openness and an attitude of continuous learning," Rose writes.

Recognize the often hidden talent of your female leaders, or those with the potential to move up in your organization, by coaching them to share their ideas, advocating for them to your bosses and giving them challenging assignments, writes executive coach Joel Garfinkle. "Make sure that your hidden talent are known by as many people around the table as possible, and ensure their names are put forward whenever opportunities arise," Garfinkle writes.

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