Analysts: Demand to continue driving cold-storage sector | OSHA to increase scrutiny of warehousing, distribution | Cass: Trucking volumes off, several indicators positive
Pandemic-driven trends accelerated development in the cold-storage sector, with Americold Realty Trust and Lineage Logistics accounting for much of the space in North America. Analysts say that demand and investor interest will continue to drive expansion in the sector moving forward, and Lisa DeNight of Newmark notes that much of the development in recent years has taken place in Dallas and Houston.
OSHA says it will step up inspections in the warehousing and distribution sectors, which now employ more than 1.9 million workers. Citing Bureau of Labor Statistics numbers, OHSA says illness and injury rates in warehousing and distribution "are higher than in private industry overall," and the agency plans a three-year program that will include comprehensive safety inspections with a eye toward hazards such as powered vehicle operations, material handling and storage, walking and working surfaces and fire protection.
Trucking volumes in June were down 1.9% from May and 4.7% from a year earlier, according to the Cass Freight Report. "Declining real retail sales trends and ongoing destocking remain the primary headwinds to freight volumes, but dynamics are shifting as real incomes improve and the worst of the destock is in the rearview," writes Tim Denoyer of ACT Research, which delivers the monthly report in partnership with Cass.
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Internet of things devices and software can bring data from several areas together, and blockchain can transform it into transaction ledgers on steroids, Matthias Gutzmann, CEO of Digital Procurement World writes. In addition, machine learning can quickly analyze risks, and artificial intelligence can tackle particularly error-prone tasks.
Kraft Heinz is investing $400 million in a 775,000-square-foot national distribution center in DeKalb, Ill., run by the latest in automation technology. Kraft Heinz said 60% of its food service business and 30% of its dry good will go through the facility, which will also have the latest in sustainable tech.
General Mills is using warehouse automation in four locations with more to come, that includes the addition of "cutting edge unique layer picking" technology that allows for mixed-product pallets. The company has also brought in real-time digitization of the supply chain to optimize trucking and product deployment.
Anna Harris, vice president of brand strategy at Ledger Bennett, writes about why business-to-business marketers need to reframe strategy around the "forever customer." Harris explains, "The best marketing considers all audiences, internal and external, at all stages in the customer journey, from way before a customer becomes a customer, to many years into their tenure."
Private social sharing and direct messaging tools and generative artificial intelligence capabilities will shape the rest of 2023, writes Andrew Hutchinson, and brands should get ready now. Hutchinson advises marketers to examine leading platforms' holiday guides and evaluate social video strategies.
More than eight in 10 marketers say they will try new or unused marketing tactics this year, with the top tactics being YouTube Shorts or Instagram Reels paid campaigns, Google's Optimized Targeting or Audience Expansion, and using Google Analytics 4 data for paid campaigns, reports NP Digital. Nearly 60% of marketers have a "strong interest" in using paid ads for chat-based search tools and 24% plan to begin testing or implementing AI in the near future.
Some leaders micromanage from a place of passion -- others as a form of control -- and understanding their motive is the first step in working well under them, writes Steve Keating, who offers nine other tips including seeking feedback, building trust and rapport, then asking for more autonomy. "By showing a willingness to learn and improve, you can demonstrate that you value their input and potentially lessen their inclination to micromanage," Keating writes.
How a potential hire will fit into your company culture is one of the top things employers should consider in the recruitment process, Ayesha J. Whyte advises. Also look for diversity of thought, intellectually curious people, those with complementary skills and ask for evidence-based references, Whyte writes.
