US wholesale inventories declined by 0.4% in October, doubling the 0.2% initial estimate from a month ago, according to revised Commerce Department data. Inventories are down 2.3% from a year ago, sparking some concern that inventory levels could drag on economic growth in the fourth quarter after boosting growth in the third quarter.
Plumbing, HVAC and industrial supplies distributor Ferguson reported its first-quarter earnings, posting $7.7 billion in sales and $739 million in operating profit, both down from a year earlier but in line with the company's expectations, according to CEO Kevin Murphy, who said the company outperformed the market amid a challenging backdrop. Ferguson also announced the acquisition of Sweetwater, Texas-based waterworks metering distributor SecureVision of America.
KeHE Distributors President and CEO Deb Conklin has spent the first year of her leadership role acting on what she's learned from observing and listening to brand partners, customers and others. "We believe in the ability to learn from each other when navigating through challenging times," says Conklin. "The ability to be humble and step back so you can listen helps you learn and apply what you hear from your stakeholders, whether they are your customers or employees."
Initial unemployment applications in the US inched upward by about 1,000 claims to 220,000 last week, according to the Labor Department. Continuing claims fell by 64,000 from the previous week to 1.86 million, marking just the second decline in 11 weeks.
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
SpartanNash has partnered with Junior Achievement of the Michigan Great Lakes to open a Family Fare experiential learning center. Students can explore various grocery industry jobs at the center, from corporate team member to supply chain forklift operator, and learn how to create monthly budgets that incorporate groceries.
Trucking, logistics and other supply chain leaders need help with increased costs, insufficient technology, a lack of skilled workers and possible disruptions, according to data from Motive. Forty-three percent of those surveyed see AI's primary value in tracking assets and vehicles, followed by more accurate decision-making, expense planning, reducing administrative work and detecting fraud.
The cost of acquiring new customers has increased substantially over the course of a decade, writes Charles Nicholls, founder and chief strategy officer of SimplicityDX. Certain strategies can address this issue, including taking steps to optimize advertising effectiveness and working to improve margin by encouraging first-time buyers to more fully explore the brand.
The three components associated with high quality content by business-to-business buyers are customization to industry or individual needs, the provision of success metrics and the inclusion of original research and data, per research by Pavilion and Kickstand. The study shows original research is particularly valued by executive-level decision-makers.
Chinese exports broke a six-month run of declines in November, rising by 0.5% year on year in dollar terms. However, imports fell 0.6%, an indication the country's economic recovery is uneven and demand remains sluggish. The data also shows that in volume terms, Chinese exports reached record highs this year as the country's exporters cut prices, which has helped them gain market share.
Google's Bard chatbot is being powered by its updated AI model Gemini to give it advanced reasoning, understanding, brainstorming, writing, content summarizing and other capabilities. Bard initially launches within Gemini Pro, the mid-tier level in the Gemini series, in English for more than 170 countries and will be extended into additional versions starting next year.
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.
