Homebuilder confidence has declined to the lowest level since January amid elevated mortgage rates, according to an index maintained by the National Association of Homebuilders and Wells Fargo. Higher interest rates are pricing some buyers out of the market, and they are also affecting the cost of construction loans, according to Alicia Huey, chair of the NAHB.
Amazon is boosting warehouse efficiency with AI-powered sorting machines, moving tote containers and robotic systems such as its new Sequoia that works in concert with employees. Amazon says the overhauled pick-and-pack routine improves worker safety, reduces order fulfillment time by 25%, stores inventory 75% faster and enables it to post products online faster and more easily predict delivery times.
United Natural Foods has added two battery-electric semitrucks and five regenerative electric refrigerated trailer systems to its fleet in two Northern California markets to lower per-mile delivery costs, reduce greenhouse-gas emissions and adhere to California mandates on zero-emission vehicle adoption, says Nick Selders, vice president of transportation. UNFI worked with Penske Truck Leasing for the refrigerated trucks, Carrier for its refrigeration technology and ConMet eMobility for technology that repurposes energy released when coasting or braking.
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Distributors seeking a competitive edge must adopt automated, intelligent pricing strategies that factor in data and market trends to improve profitability, revenue and adaptability to changing market conditions, writes Cath Brands, Flintfox's marketing chief. Data-based rebate management can also help distributors personalize offers, which helps drive customer satisfaction and loyalty while also freeing up time to establish marketing strategies and build stronger supplier relationships, Brands writes.
Global supply chains are resetting as firms attempt to find the proper balance of nearshoring, reshoring and offshoring operations and production. MacroFab CEO Misha Govshteyn examines these factors, as well as automation and other technological advances, and explains why they provide a valuable opportunity to companies around the globe.
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Deloitte's CMO Survey found that 49% of US marketers say they're "more optimistic" regarding the economy, up from 30.1% in the spring, with the most upbeat being among B2C Services firms (72%). Meanwhile, inflationary pressures have lighted up some, with 45% of respondents reporting marketing cuts, compared to 52% saying the same in the spring.
Chief marketing officers of business-to-business brands are being asked to absorb new responsibilities such as analytics while also being held more accountable as companies invest more in marketing technology, per an EssenceMediacom report. Also, 62% say they've seen a shift as marketing is now responsible for customer experiences rather than sales, and most say they lack the tech to fully understand the customer buying journey.
Companies in the US are facing the steepest rise in health insurance costs in years, with projections of a roughly 6.5% price increase for 2024 that could significantly increase costs for employers already dealing with higher labor expenses. Finance chiefs are considering sharing costs with employees or adding cushions around health care budgets, with some companies adding margin to budgets for healthcare costs or considering buying coverage for costs over a certain threshold. Companies could also change employee coverage or look elsewhere for cuts.
Procurement spending tends to get the short shrift compared with productivity and sales despite continued supply chain uncertainty, a McKinsey report notes. C-suite executives need to shift more focus and investment to procurement AI and other technology, as well as adaptability and intradepartmental collaboration, for input on corporate strategy and to enhance competitiveness, procure critical materials and achieve sustainability goals, the report says.
Experience three days of excellent networking opportunities, cutting-edge content, and educational programming for leaders in the wholesale-distribution industry at NAW's Exective Summit Jan. 30 - Feb. 1. Hear from world-class speakers and explore issues critical to the industry. Be prepared for what's next and learn new strategies to get there first. View agenda and registration information here.
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.
