On Tuesday morning, the 984-foot Singapore-flagged container ship Dali, departing the port of Baltimore, struck the Francis Scott Key Bridge, causing a partial collapse and sending multiple vehicles and at least seven individuals into the water. All lanes of the I-695 Key Bridge were closed, vehicles were being diverted and executives said it was too soon to determine the number of casualties and the effects on the Port of Baltimore, a major East Coast trade route.

US bankruptcy filings are on the rise and the number of firms citing supply chain disruptions as a contributing factor is growing, with companies noting problems ranging from an inability to acquire essential components and materials to oversupplied inventories and labor shortages. Rising borrowing costs and longer payment terms are adding to businesses' woes and the pace of bankruptcies is expected to continue amid further supply chain challenges and tighter financial conditions.

Hardware, lumber and buildings material co-op Do it Best detailed its investments technology tools at an event in Houston, introducing an inventory management system and intelligent process automation tool to identify and correct underperforming areas of stores. Do it Best expects to accelerate growth in the coming year as it ramps up ecommerce, integrates new technology and moves forward with acquiring United Hardware, which will boost membership by 20% with 700 locations and increase distribution capacity.

Transloading, a strategy popular during the pandemic in which freight is transferred to rail from truck or vice versa, has increased in use as containers are diverted to the West Coast from the East Coast. Requests for transloading have increased amid disruption in the Panama Canal and the Red Sea.

Technology investments haven't fully yielded the desired results for 69% of operations and supply chain officers polled by PwC. The results can be attributed primarily to integration complexity, followed by technology that failed to meet expectations, staff capabilities, data issues, vendor capabilities, program leadership and business use cases, according to the survey.

Wholesale distribution sales leaders face many challenges, including disruption, shifting markets and buying trends, digital transformation, talent development and forging strong customer relationships, writes Mike Kunkle, vice president of sales effectiveness services for SPARXiQ. Kunkle says such challenges require leaders to be proactive and adaptive, establish strategic partnerships, invest in technologies that will streamline sales processes and enhance customer engagement and train and support staff to adhere to a standardized sales methodology.

The House has passed the Ocean Shipping Reform Implementation Act, which protects businesses from punitive actions, excessive fees and unfair access to shipping capacity while creating a framework for sharing supply chain data. "Stronger supply chains and maritime shipping links are critical to consumers' quality of life and the growth of the US economy," said Tom Madrecki, vice president of campaigns and special projects for the Consumer Brands Association, in response to the legislation's passage.

Dealmaking is expected to rebound this year after a quiet 2023, with 79% of business leaders expecting to make multiple divestments in the next 18 months, according to a global divestitures survey from Deloitte. Nearly two-thirds of businesses assess their readiness to divest at least twice a year, citing regulatory concerns, changing market conditions and shifting focus toward core business as reasons for divestment. However, nearly all respondents reported abandoning a sale in the last 12-18 months due to internal strategy changes and regulatory issues.

Career pathing is a means of helping employees determine their goals, develop their skills and map their career through an organization, which can improve retention rates and employee satisfaction. An organization can integrate career pathing by assessing its own and employees' needs, developing each individual's plans and tracking their progress.

Research shows the benefits are clear: Companies that invest in their employees' professional development experience increased employee retention, improved performance and enhanced innovation. Join a select group of high-caliber professionals for an exclusive program designed to accelerate your career in wholesale distribution. This intensive, 5-day certificate program, led by seven expert faculty members from The Ohio State University, will equip students with the strategic skills and knowledge to navigate industry challenges, drive growth and lead with confidence. The Spring Session is April 29 - May 3, 2024. Learn More.

The difference between leading and lagging distribution companies often rests on the performance of their sales teams. Join Doug Wyatt (SPARXiQ) and industry sales leaders Joe Velleman (Mid-City Supply) and Jeff Weiss (Livingston & Haven) in this panel discussion as they provide insights to help you bridge this gap through strategic upskilling. Register here.

The NAW Company Roundtables are an exclusive community of thought leaders from Billion Dollar and Large Company distribution enterprises who congregate to network with non-competing peers in multiple lines of trade on key issues. Learn more about the many Roundtable event opportunities we offer, and how your leaders can get involved. Learn more.