A US port of entry between Mexico and New Mexico. (Bloomberg/Getty Images)
If the US government shuts down as expected Sunday, port of entry trade processing likely will continue, but some delays in trade enforcement are possible. However, many supply chain activities -- especially related to exports -- may come to a halt or see disruptions, such as tariff-exclusion request processing; antidumping duty and countervailing duty investigations; EPA-regulated hazardous materials shipping; and license processing and reviews, according to data from previous shutdowns and input from Venable trade adviser Richard DiNucci.
The Conference Board's Consumer Confidence Index fell to 103 in September, a second consecutive month of decline and only slightly above the May low of 102.5. Meanwhile, prices of new homes edged up in July, driving an 8.7% decline in August home sales.
FedEx is testing Dexterity AI's mobile robot for loading trucks. The robots use AI to move into a trailer and work in tandem with a conveyor belt to create tightly packed walls of boxes.
The new economic era, need for competitiveness and desire for procurement to be a strategic force require reinventing external spend management and focusing on "new currencies of procurement beyond traditional cost savings and price reductions," such as boosting net margin by sidestepping risks, McKinsey analysts write. The procurement ecosystem will see four trends, including a "multipolar world," AI advances and a shift to low-carbon energy, and the analysts detail each and discuss 2030's challenges for procurement.
To attract and retain the best procurement talent, companies must prioritize employee well-being and opportunities for growth and development, Conrad Snover, CEO of ProcureAbility, writes. Strategies such as personalized recruitment, flexible work arrangements and holistic compensation packages can help companies stand out and position themselves as premier employers.
Artificial intelligence will power marketing personalization, content creation and community management in the future, writes Joel Alexander, @Kendal CEO. Alexander adds that today's best social media strategies include tailored content, influencer partnerships and the effective use of hashtags.
Marketers using generative AI ChatGPT prompts can make campaigns more memorable and compelling by using the technology to identify and address "primary fears, pains or concerns" among a target audience, writes Coachvox.ai founder Jodie Cook. Use ChatGPT to rework copy to spark more attention, request opposite campaign ideas that could work even better and "see how controversial you can make your campaign, then dial it back as you see fit," are among other tips Cook offers.
OpenAI this week announced that ChatGPT can now see, hear and speak, gaining the ability to analyze images and provide users with information and answers, such as suggesting a recipe based on the contents of a refrigerator. Users can also interact with the popular Generative AI tool via speech, and it's gaining internet browsing features that will expand its access to up-to-date data.
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