LEI gauge signals slowdown, not recession ahead | More communities resist warehouse developments | Increase in productivity could boost economy further
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.
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.
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.
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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.
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."
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.
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.
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.
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.
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