US wholesale inventories in July dropped a more-than-expected 0.2%, the second month in a row in which inventories fell, according to the Commerce Department. Sales, however, rose 0.8%, compared with a 0.8% drop in June, and inventory-to-sales ratio decreased to 1.39 months, compared with 1.33 months a year earlier.
Winsupply has purchased two properties to expand its support services campus in Moraine, Ohio, and expects to break ground in the coming months and host a grand opening in spring. Winsupply's Moraine campus houses 400 of the firm's 8,000 employees, and the Kettering Boulevard property acquisition allows for future expansion, while the South Dixie Drive parcel will provide the construction wholesaler with more space for parking.
The Labor Department has reported unit-labor costs rose at a revised 2.2% annual rate in the second quarter, up from the earlier 1.6% estimate, while productivity growth was revised down to a 3.5% annual rate from the initial 3.7% estimate. Output of goods and services rose at a revised 1.9% rate, and hours worked fell at a revised 1.5% annual rate. Over the past 12 months, productivity rose at a 1.3% clip, the first positive reading since the fourth quarter of 2021.
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Distributors building out their innovation process must start with an understanding of their "first principles," which are "at the core of their culture, capabilities and, of course, aspirations," writes Mark Dancer, a National Association of Wholesaler-Distributors fellow and CEO of Network for Business Innovation. Dancer offers some principles as starting points, including embracing a value-driven purpose and helping and understanding customers.
About 61% of freight forwarders, third-party logistics services providers and broker agents anticipate rising demand for services during the second half of 2023, according to a Truckstop and Bloomberg Intelligence survey. While nearly half experienced a drop in volume during the first six months of 2023, many believe spot rates may be reaching the bottom and 46% think they'll increase during the next three to six months.
Tyson Foods is enlisting four of Gatik AI's autonomous trucks to move food such as hot dogs, breakfast sausage and frozen chicken breasts from a processing facility to cold storage facilities and distribution centers in Northwest Arkansas. The trucks will operate 18 hours a day on roughly 12-mile-long routes as part of the three-year contract.
Performance marketing at scale Join industry experts from Fetch and Albertsons who will discuss the challenges facing retailers and how to cut through the noise reaching consumers in an authentic way. Register here for the webinar.
Business-to-business marketing content should emphasize quality over quantity and speak to potential clients no matter how close they are to a decision, writes Jason Ball, founder of a B2B marketing agency. Other key techniques include dropping paywalls and focusing on hyper-relevance with a human element.
Short-term sales training may lead to fast results, but they're only temporary, as new hires may miss the training, old team members may leave, lessons may not be reinforced and next steps typically are missing, Mary Flaherty of Rain Group writes. Long-term sales training shows results fairly quickly and over time, as it constantly reinforces skills so all employees are captured and continually teaches new skills, Flaherty says, detailing how the training works.
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