In a sign of continued economic strength, new orders for US manufactured goods rose 1.2% in August, significantly higher than the 0.2% increase economists anticipated. Manufactured goods shipments also increased by 1.3%. The increased orders were primarily driven by gains in electrical equipment, appliances, components and machinery, with orders for computers and electronic products also up slightly.
Imperial Dade recently acquired Ohio-based janitorial product distributor The Janton Company, and Quebec-based distributor of paper goods and packaging materials Eugene Allard Produits d'Emballage et d'Entretien. Financial details of the deals were not disclosed, but the acquisitions provide Imperial Dade with a wide range of product offerings. The deals are the 74th and 75th acquisitions under Imperial Dade's leadership.
Amazon reportedly used an algorithm dubbed "Project Nessie" -- which is no longer being used -- to help the ecommerce giant determine how to raise prices in a manner that would force competitors to follow suit, according to allegations in a complaint filed by the Federal Trade Commission. "Project Nessie was a project with a simple purpose -- to try to stop our price matching from resulting in unusual outcomes where prices became so low that they were unsustainable," an Amazon spokesman said. "The project ran for a few years on a subset of products, but didn't work as intended, so we scrapped it several years ago."
UPS is deploying a series of technological innovations designed to increase both efficiency and employee safety, including robots that help workers to sort and load packages and autonomous vehicles. "In providing industry-leading livelihoods for our people, we are now also using technology, innovation and automation to provide for their well-being," said Bala Subramanian, executive vice president and chief digital and technology officer.
AI is not going to replace the jobs of logistics industry professionals due to a lack of data points that generate "judgement under uncertainty" but is more suited for lower-level tasks within the industry, such as robots moving inventory through a distribution center or yard trucks towing containers at ports or warehouses, said Missy Cummings, CSCMP Edge conference keynote speaker and director of the Mason Autonomy and Robotics Center. Cummings bases her predictions on four AI mileposts: skill, rule, knowledge and expert and says there's currently no AI platform that can progress past level two.
Mobile tours that include pop-up shops, branded vehicles and other in-person events create "a tangible shared experience between a customer and your brand" that can be enhanced with interactive elements such as product sampling or prizes, writes Ralph Failla, Inspira Marketing Group senior account director. Failla offers tips on mobile tour effectiveness, such as mining data to develop concepts and personalize the experience, collecting data to yield consumer insights and "integrating photo ops and giveaway contests to spur social sharing and hashtags for tracking."
Creative directors share their thoughts on artwork generated by AI, including Definition Group's Dionysis Livanis who is dubious, stating, "Most generative AI enthusiasts are non-creatives who think they found a way to produce content quickly and cheaply." The Romans' Dan Roberts is more optimistic, saying, "AI doesn't replace the artist; it's the ultimate wingman. It hands you the palette; you're the maestro."
Recent upheaval in the economy, including labor strikes, has not changed one factor: businesses have not stopped hiring and are doing what they can to keep the employees they have. Unemployment remains low, and hiring exceeds job-quitting, according to the Labor Department.
Astron Solutions' Jennifer Loftus explains five steps to introducing a performance-based compensation model, which can help to motivate and retain employees. Loftus offers guidance on mapping performance benchmarks, identifying metrics, providing upskilling opportunities and developing a supporting communications strategy.
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.
