Supply chains have largely returned to normal ahead of the holiday shopping season after the challenges of the past few years, according to cargo numbers from NRF and Hackett Associates that forecast a 13% dip in import volumes this year from 2022 levels. In addition, retailers including Target, Macy's, Gap and Kohl's that were overstocked a year ago have reduced their inventories.

Electrical distributor Wesco International reported $5.64 billion in third-quarter sales, a 4% increase from a year earlier. Net profit fell slightly, from $240 million a year earlier to $233 million, but was higher than the previous quarter. Chair and CEO John Engel said supply chain constraints required heavy investments in inventory in recent years, but noted with supply chains improving the company is focused on reducing inventory and "returning to strong and consistent free cash flow generation."

Dawn Foods is the first corporate sponsor of the nonprofit For Goodness Cakes, which is leveraging Dawn's extensive bakery network to add more volunteer bakers to provide cakes for children in foster care. Dawn has helped the nonprofit open new locations and hopes to help attract more professional bakers to the cause.

Distributors developing a private brand that delivers value to the organization and customers need to start with a robust brand strategy that encompasses meticulous sourcing, writes Steve Gettleman of SG Consulting Services. The strategy must also be communicated effectively to align sales and marketing efforts, leading to profit realization and the potential for expansion into new categories and creating "a virtuous cycle of profitable growth that extends beyond the private brand itself," Gettleman writes.

The Biden administration on Friday confirmed that it would direct more than $653 million toward 41 ports across the US in a push to combat supply chain disruption and rising prices for goods. "These investments will help expand capacity and speed up the movement of goods through our ports, contributing to cleaner air and more good-paying jobs as we go," said Transportation Secretary Pete Buttigieg.

Venture capital investing in logistics companies has slowed to 404 deals in the first half of 2023, down from 727 deals in the first half of 2022, according to PitchBook Data. "Investors have increasingly emphasized profitability over growth due to the market challenges," said Jett McCandless, CEO of logistics software company project44.

Jann Schwarz, founder of LinkedIn's B2B Institute, spoke at B2B Worldfest about the importance of the "customer promise" in business-to-business marketing and how a focus on simplicity can drive effectiveness. A customer promise "distills product strategy, marketing strategy, sales strategy and customer experience into one clear message - how are you creating differentiated value for your customers?" Gordon Young explains.

More than three-fourths of business leaders feel they're already missing the boat on AI, says a report from Salesforce. The crux of the matter is data management, with 94% of technical leaders saying they should get more value from their data and 78% reporting struggles aligning data with business priorities.

S&P 500 firms are slated to collectively increase earnings for the first time in a year, with a 3.7% projected increase in third-quarter earnings and 2.3% revenue growth. Approximately 60% of companies reported higher earnings per share compared to the previous year. Strong consumer spending is fueling the increases, with the strongest sectors including communications services and consumer discretionary.

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NAW's Bart Tessel and Applico's Alex Moazed share thoughts on distribution innovation and technology today as critical differentiators, and where they're headed. Listen Now!

The NAW Innovators Summit, powered by Applico, is a nexus of forward-thinking strategies and discussions in the Wholesale-Distributor industry. By attending this event, November 14-16 in Austin, TX, you’ll have unparalleled networking opportunities, hear thought-leaders discuss the evolution of the sector, and learn how to better position your enterprise at the forefront of innovation.