Goods inflation falls as pandemic supply woes ease | CD&R closes $2.3B deal for Vertiv; Stegeman to be chair | Weyerhaeuser investing in low-carbon equipment at La. mill
Americans are starting to see the effects of deflation on their household spending, at least in some sectors, as the cost of purchases such as appliances and used automobiles falls for the first time since late 2020. Economists see supply chain disruptions and the subsequent post-pandemic recovery as the main drivers of the trend.
Clayton, Dubilier & Rice has finished its acquisition of print product and janitorial and sanitation distributor Vertitiv for about $2.3 billion in a deal that values the firm at roughly $2.6 billion. John Stegeman, CEO of White Cap and former CEO of Ferguson, will become chairman of the newly private Vertitiv.
Weyerhaeuser plans to invest $96.2 million in its Winn Parish lumber mill in Louisiana, installing three low-carbon drying kilns that will lower emissions. Investments at the mill are also designed to improve productivity.
State of the Wholesale Supply Chain Industry As complex customer demand patterns and increasing volatility persist, supply chain organizations are recognizing they may require cutting-edge technologies like machine learning to achieve their goals. Blue Ridge's solution helps businesses improve forecast accuracy, reduce costs, increase profitability, lower transportation costs and eliminate obsolescence. Find out how
A Gartner survey shows only 14% of procurement professionals say they have employees with the talent they need for the future. The research firm finds the issue is driven by changing competency requirements related to business acumen, technology and data skills.
Shipping platforms Shipium and ProShip lost delivery volume as nationwide shippers such as FedEx and UPS handled 49% of Black Friday week volume, up from 31% during the same period last year, data show. Shipium CEO Jason Murray says the increase points to efforts by nationwide carriers to compete more aggressively on rates amid weakened demand this year and how they're working to minimize unused capacity.
Ocean carriers grappling with decreased demand following the e-commerce rush of the pandemic are expected to experience a collective 80% drop in revenue this year and a combined loss of $15 billion in 2024 amid declining demand and lower agreed-upon rates for long-term contracts. "We are making the same mistake as in 2008-2010 when everybody ordered ships because we thought China would grow by millions of percent forever," says Hapag-Lloyd AG spokesperson Nils Haupt, adding, "We haven't learned to control capacity."
Proactive customer support that doesn't just fix problems but enhances the experience with your brand is one way business-to-business marketers can drive customer loyalty, writes Thena's Govind Kavaturi. B2B marketers also can boost loyalty via real-time messaging and using AI to identify upselling opportunities and personalize recommendations, Kavaturi writes.
As work projects pile up at the end of the year, try being a "grinch" about your time, says Emily Ballesteros, founder of Burnout Management. "If you have double your usual workload and you know you do your best work in a quiet space with no distractions, do everything in your power to lock yourself in a quiet space with no distractions," says Ballesteros.
Implementing an entrepreneurial strategy to gain new business may be better than retrenching and riding out economic volatility. Ways to build business for long-term financial stability include adopting automation and artificial intelligence, embracing "everything as a service," simplifying distribution channels, prioritizing sustainability and embedding adjacent products or services into offerings.
Experience three days of excellent networking opportunities, cutting-edge content, and educational programming for leaders in the wholesale-distribution industry at NAW's Executive 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.
