Wholesale inventories in February were up 0.5% from the previous month, reaching $901.1 billion, but year-over-year, the inventories dropped 1.6%, according to the Census Bureau. Retail inventories also rose 0.5% to $808.5 billion in February and increased 5.6% annually. The US trade deficit rose $1.3 billion to $91.8 billion in February.

By the end of 2024, autonomous big-rig trucks will be traveling Texas highways without human oversight as two major companies, Aurora and Kodiak Robotics, launch operations with plans for nationwide expansion in a few years. Only 10 states place limits on autonomous vehicles, while the remaining either specifically allow them or don't have any regulations addressing the technology at all.

First Cos., which owns plumbing and HVAC supplies distributor First Supply, will start construction on a 308,000-square-foot distribution center in West Salem, Wis., in April, and the facility is expected to begin operations in early 2025. The distribution center will streamline supply chain operations and customer service in western Wisconsin.

Suppliers in February were "very close to full utilization," according to GEP's Global Supply Chain Volatility Index, in contrast to the downturn of the past couple of years during the pandemic. North American suppliers saw a strong February, with weaker activity in Europe, and although shipping issues in the Red Sea are top of mind, "it's not having as big an impact as one would think," said Mukund Acharya of GEP.

Some organizations may be hesitant to embrace AI due to beliefs it will replace humans or is too complex and expensive to implement, but the reality is the technology is most useful in performing daily tasks and spotting anomalies, freeing up human workers to do what AI cannot, writes SupplyMover CEO Chris Van Ittersum. Organizations should instead be asking how humans can be used for the most important tasks, such as creating relationships, building trust and developing strategies that grow customer confidence and slow account turnover, Van Ittersum writes.

Business-to-business marketers can start preparing for an influx of Generation Z buyers by focusing on digital-first strategies, including video and social media, particularly TikTok, LinkedIn and Instagram, writes Chad Tons, CEO and founder of Infinity Marketing Team. In addition, ensure brand experiences are personalized, authentic and appeal to the generation's desire for instant results, Tons advises.

Generative AI is revolutionizing content marketing, helping generate text and visuals for campaigns. It also can create virtual influencers that can be program to engage users and pitch products.

Inflationary pressure has yet to completely recede, complicating the situation facing the Federal Reserve and other central banks. Investors, meanwhile, are being confronted with the possibility that they have been overly optimistic about the economy and the course of interest-rate cuts. Economists' and central banks' forecasts hinge on "strong gravitational forces that are not yet validated in global labor costs, short-term expectations, or in recent signals from commodity markets," according to JPMorgan Chase.

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.