Producer prices increased 0.5% in September from a month earlier and 2.2% from a year earlier, according to the Labor Department's producer price index. Core PPI, which excludes energy and food, increased 0.3% from a month earlier and 2.8% year-over-year.
Logistics companies competing for labor with platforms including Uber and Instacart -- known for letting workers make their own schedules -- are offering more scheduling flexibility and turning to software platforms such as HapGig and EmployBridge to fill seasonal and short-term labor needs. "There's a ton to learn from the gig economy and how they attract and retain people," said John Phillips, PepsiCo's senior vice president of customer supply chain and global go-to-market. "I think the companies to get this right will do a much better job staffing and retaining these types of positions."
A 107-year-old banner that holds plenty of Southern nostalgia, Piggly Wiggly could increase its presence in the Lone Star State if parent C&S Wholesale Grocers closes on a pending deal to buy 413 stores from Kroger.
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Waning consumer demand for goods in the US and Europe is driving ocean shipping rates down by as much as 90% from pandemic highs in early 2022, forcing some operators to put vessels into storage and slash unprofitable sailing schedules. Pricing may also be driven down further by planned container deliveries that are expected to drive capacity up another 8.3% in 2023 and 8.9% in 2024, according to London-based shipping broker Braemar.
Research from the Council of Supply Chain Management Professionals, Penske Logistics and Korn Ferry finds nearly 96% of young professionals are excited about their supply chain careers. Fifty-eight percent are attracted to the field by the diverse range of available opportunities and 57% recognize how supply chain roles can directly affect business outcomes.
Marketing leaders at PwC, Goldman Sachs Asset Management and Jellyfish Global discuss why the traditional, linear business-to-business marketing funnel is no longer appropriate and explain how B2B marketers should adapt their approach. Goldman Sachs views the funnel now "as an infinity loop" says Anouschka Elliott, global head of marketing, while PwC's Paul Beattie notes, "I don't think the sales funnel articulates that the client is front and center."
A Bentley-Gallup Business in Society Report found that 41% of US consumers say businesses should take a stance on current events, and most prefer brands to address issues such as environmental sustainability, climate change and mental health. Nearly 90% of survey respondents say brands can have a positive effect on people's lives, but only 8% think they're highly effective and 79% don't have much faith that businesses will be responsible for AI efforts.
US employers plan to increase their salary budgets for nonunionized employees by 3.9% next year, down from this year's 4.1%, and their 2024 budgets for merit pay increases by 3.5%, down from 3.8% in 2023, according to a Mercer survey, which points out the increases are still higher than they were before the pandemic. "If the labor market continues to stabilize and inflation cools further as we move toward the end of the year, compensation pressures are likely to continue to decline," says Lauren Mason, senior principal for career at Mercer.
The forecast for economic growth in the US has improved, according to the International Monetary Fund. The IMF said it expects the US economy to expand by 2.1% this year and 1.5% next year, which are increases from prior forecasts of 1.8% and 1%, respectively.
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