ISM: Aug. marks 10 straight months of PMI contraction | FTC reportedly to file antitrust lawsuit against Amazon | SpartanNash grows AI toolbelt with Upshop
The manufacturing Purchasing Managers Index increased to 47.6 in August but has remained below 50 since November, marking the most prolonged contraction period since the Great Recession, according to the Institute for Supply Management. Factory input prices jumped from 42.6 in July to 48.4 during the month. Transportation equipment; petroleum and coal; and food, beverage and tobacco products are among the industries reporting growth.
The Federal Trade Commission is reportedly expected to file a lawsuit against Amazon this month after a mid-August "last-rites meeting" failed to settle antitrust claims against the ecommerce giant. The FTC's case is expected to target Amazon's business practices and suggest it make "structural remedies" that could lead to dividing the company.
SpartanNash is using Upshop's AI-powered Magic inventory and replenishment tool to streamline its ordering systems and cut down on waste. "By leveraging advanced analytics to predict product demand, our associates can spend less time checking inventory and more time face-to-face helping serve our shoppers," said Tom Swanson, SpartanNash's executive vice president of corporate retail.
Legitimate concerns often keep executives from embracing automated negotiations, even though the practice offers significant benefits such as cost savings, increased supply chain resilience and improved productivity, but stakeholders often have legitimate concerns, according to procurement and automation experts Remko Van Hoek and Mary Lacity of the University of Arkansas. They detail how automated negotiations work, using examples from Maersk and Walmart.
Orders for robots in North America in the second quarter of the year decreased by 37% from a year earlier, according to a report from the Association for Advancing Automation. The slowing US economy and higher interest rates are likely to blame for the continent's 29% drop in the robotics market in the first half of the year compared to 2022, says the association's Alex Shikany.
Meta "click-to-message" ads within WhatsApp, which directs Instagram and Facebook users to brand conversations, has taken in $9 billion in revenue and its Channels feature acts as a "private broadcast service," with the potential for additional monetization, says Alice Newton-Rex, WhatsApp's head of product. Newton-Rex says that generative AI will be a core part of messaging and calls North America the app's "fastest-growing region."
Direct messaging can enhance the connection between the buyer and the sales and marketing team, says Andrew Hutchinson of Social Media Today, who shares four Instagram tips for doing so to improve sales. Among the tips: Craft a social media ad designed to get people chatting, and create a selection of saved replies -- from store hours to return policies -- to make engagement easier.
US duties on softwood lumber are the target of new challenges by the Canadian lumber industry. Mary Ng, Canada's minister of export promotion, notes harm to a key Canadian industrial sector, as well as the effect in the US of raising already-high housing prices.
When interviewing remote job candidates, focus on the outcomes you're seeking from that person, such as boosting revenue or landing new accounts by using the "deepening and narrowing" questioning method that offers candidates a chance to highlight past successes, says David Dodson of Stanford Graduate School of Business.
Entice your team back into the office by offering flexible schedules that account for "the realities of employees' individual situations" and underscore the advantage of face-to-face collaboration, learning and mentoring, writes Liz Kislik. "Organizations and employees are getting more accustomed to the idea that not everyone has to be on the same lockstep schedule throughout the entire organization and across disparate jobs," Kislik writes.
Attending the Innovators Summit lets you stay updated with the latest industry developments and remain ahead of your competitors. By being aware of emerging trends and disruptive technologies, you can proactively adapt your business strategies, identify new revenue streams, and gain a competitive edge in the market. Learn more.
