LEI gauge signals slowdown, not recession ahead | More communities resist warehouse developments | Increase in productivity could boost economy further
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February 22, 2024
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The Conference Board's latest Leading Economic Index, a gauge of future economic activity, dropped 0.4% to the lowest reading since April 2020, but the business research group dropped its long-running recession forecast. However, the February LEI marked the 23rd consecutive month of decline, indicating a potential economic slowdown.
Full Story: Reuters (2/20) 
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More communities resist warehouse developments
(Pixabay)
Warehouse developers are increasingly meeting with resistance from local communities with many governments banning or limiting their proposed logistics projects. Residents are protesting the noise, pollution and demands on infrastructure these projects take, which is translating into longer delays and higher costs for developers, if not outright refusal, industry insiders say.
Full Story: The Wall Street Journal (2/20) 
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Official data on productivity is showing a gain for the first time in years, which could turn a recent pickup in the economy into a long-lasting rally. Productivity is being boosted by changes in the work environment, AI, logistical improvement, innovation and decreased inflation.
Full Story: The New York Times (2/21) 
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Use hyper-personalization to strengthen customer relationships
Shopper behavior is always top of mind for retailers and one of the keys to success in 2024 will be using hyper-personalization. The challenge? Delivering in real time while protecting data and respecting customer privacy. Register now to learn the do's and don'ts.
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Operations and Technology
Integrating AI into customer service first requires a return to the basics, understanding your organization's current customer experience and establishing a top-down customer-centric culture, writes Brian Hopkins. Survey customers to gain feedback on their experience and expectations, and combine that data "with personal interviews, focus groups and potential conversations with customers who have fired you to get real insights. This is where real change starts," Hopkins writes.
Full Story: Distribution Strategy Group (2/16) 
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Some Red Sea cargo shippers see minor signs of relief
(Pixabay)
Ocean cargo traveling from the Far East to the US East and West coasts have spiked 146% and 186%, respectively, since the onset of the Red Sea crisis in mid-December, but Xeneta is now recording modest drops in spot rates that could indicate a peak has been reached. Rates dropped roughly $1,000 for 40-foot contenders moving from the Far East to the East and West coasts, and market analyst Emily Stausboll says, "Early indications suggest a further softening of the market in the next 10 days."
Full Story: CNBC (2/15) 
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Supply chain organizations that have performed above expectations during the last year have invested in AI and machine learning at more than double the rate of their low-performing peers and prioritize gleaning value from established digital assets to boost productivity, according to Gartner research. "Enhancing productivity is the key factor that will drive future success, and the key to unlocking that productivity lies in leveraging intangible assets," said Ken Chadwick, Gartner's Supply Chain Practice vice president analyst, in a statement.
Full Story: CSCMP's Supply Chain Quarterly (2/20) 
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Sales and Marketing
How to engage consumers with mobile-first experiences
(Gerd Altmann/Pixabay)
Heroic Rankings' Angela Haynes explains how marketers can better connect with today's consumers using mobile-first strategies, including how to personalize mobile content and use augmented and virtual reality to create engaging experiences. "Integrating these technologies allows marketers to deliver bespoke, captivating and intuitive user experiences, thereby boosting engagement, building brand loyalty and enhancing conversion opportunities," Haynes writes.
Full Story: SmartBrief/Marketing (2/20) 
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The Business Leader
A narrow majority of economists surveyed by Reuters believe the Federal Reserve's first interest-rate cut will come in June. None of the 104 economists surveyed believed that the first cut would come in March.
Full Story: Reuters (2/20) 
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The right technology and strategies can help optimize productivity, with techniques including setting reminders throughout the workday and scheduling time for tasks that require deep focus. "If your biggest obstacle is inefficiency -- you don't work quickly enough, or you make poor use of your time -- tech can help you set up a plan for your day and plow through small tasks much more effectively," writes technology researcher Alexandra Samuel.
Full Story: The Wall Street Journal (2/19) 
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NAW Insider
The Future of Distribution is Here: Harness the Power of Generative AI with NAW and McKinsey & Company! Join us for a FREE 4-part webinar series delving into the exciting world of Generative AI and its power to reshape your industry. Session 1 on March 5: Unleashing the Power of Generative AI kicks off the series with expert insights from McKinsey leaders. No matter your digital transformation stage, this session is for you! Gain valuable insights and actionable steps to harness the power of Generative AI and transform your distribution business. Register now for all four sessions and secure your spot.
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