US wholesale inventories in August dropped 0.1%, the sixth consecutive month of decline, according to the Commerce Department. Wholesaler sales increased 1.8%, the most since June 2022, while the inventory-to-sales ratio dropped to 1.36 months, the lowest level since October 2022
Continuing labor shortages and inflation prompted a half-point slip of the Small Business Optimism Index in September to 90.8, the National Federation of Independent Business reports, marking the 21st month in a row that the index was below its 49-year average of 98 points. Fewer business owners are optimistic about improved conditions over the next six months, with that number dropping 6 points to a net -43%.
Trucks wait to cross into the US from Mexico (Herika Martinez/Getty Images)
Roughly 19,000 commercial trucks carrying an estimated $1.9 billion in goods are waiting 24 hours on average to cross from Mexico into the US due to Texas safety inspections, according to Mexico's national freight transport chamber. Mexico President Andres Manuel Lopez Obrador called the inspection enforcement "very irresponsible" and politically motivated and plans to send a diplomatic note to "protest the Texas' governor's attitude of putting up obstacles to free transit."
Consultant Glen Balzer outlines a set of guidelines for distributors and suppliers to improve business performance, build strong emotional connections and strive to become the emotionally favored supplier or distributor. Balzer emphasizes the importance of personal relationships in distribution, and recommends supplier-distributor partnerships take joint ownership of constantly measuring performance and tracking critical metrics, planning meetings and replacing underperforming partners with better alternatives.
Estes Express Lines is the lead bidder for Yellow's network of 170 truck terminals due to come to auction Nov. 28, and if successful, the sale could significantly bolster its position in the less-than-truckload segment, which has been growing 15% to 20% annually over the past two years. The portfolio, which truckers view as a prime avenue for expansion in a tight market, could also be split into bundles and sold to different bidders.
The time-consuming supplier onboarding process could be quicker with the more holistic Trust Your Supplier blockchain network solution, which has reduced the average supplier onboarding time from as much as six months to less than a week, write Kate Vitasek and Alan Amling of the University of Tennessee. They evaluate a cost-effective "industry- and company-agnostic" onboarding solution from IBM and Chainyard that includes compliance and risk-management.
The three primary challenges supply chain leaders are facing are the need to decrease costs, improve the customer experience and speed up delivery times, but fewer than half are leveraging supply chain data to make strategy decisions and 14% aren't using the data at all within the decision-making process, according to a FourKites report. "The root of this issue is the ongoing struggle to fully digitize the supply chain and have a single source of data," says Fabrizio Brasca, FourKites chief strategy officer.
Attention must be a driver for business-to-business creativity, writes Ledger Bennett's Will Green, who offers three tips for ensuring B2B content resonates with prospects. Make it about the audience, don't be afraid to stand out and center content on "emotional truths," Green advises.
Small businesses with e-commerce sites can get in-depth information from "Google Analytics 4" reports, uncovering issues with the online shopping process and revealing new prospects to attract customers. The "checkout journey" reports can be seen under "Reports > Monetization" in Google Analytics 4.
A Bamboo HR survey found nearly 90% of US employees say they've worked while sick over the past year, with some feeling guilty or anxious about asking for time off. "If a company's workforce isn't physically and mentally well and there is mistrust between leaders and team members, performance will suffer," says Bamboo HR's head of HR Anita Grantham, who points out more people are reluctant to call out sick when the economic climate worsens and companies are laying off employees.
Leaders can boost their team's personal development by thinking about how their own actions reflect the behaviors they want to see in their employees, writes Dale Carnegie President and CEO Joe Hart. Guide your team to set goals with intention and use active listening to develop more meaningful relationships, Hart advises.
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.
