Wholesale inventories declined 0.4% in March and fell 2.3% from a year earlier, according to Commerce Department data. Inventories of petroleum, lumber, furniture, machinery and computer equipment increased, while stocks of motor vehicles, metals, hardware, paper, medication, apparel, groceries, farm products and alcohol declined. Wholesaler sales fell 1.3% in March, and firms would need 1.35 months to sell current supplies at the March sales pace.

Top concerns among distributors include competition, labor/productivity and supplier issues, according to the Baird-MDM 1Q24 Distribution Survey. MDM Executive Editor Mike Hockett breaks down responses to a question about risks, highlighting the complex landscape distributors face in recruiting and retaining workers, navigating supply chain disruptions and overcoming competitive pressures. Respondents said a multi-faceted approach is needed to tackle the risks, including a combination of strategic planning and technology investments.

Home Depot's acquisition of SRS Distribution will give the retailer access to a nationwide roofing, landscaping and pool supplies distribution company and a foothold in the $8 trillion US distribution market. Home Depot aims to have bulk distribution centers in 17 major North American markets by the end of this year and is investing in technology to manage larger customers. Other retailers, including Walmart, Amazon and Lowe's, are also looking to expand their reach to bulk orders, writes Don Davis, noting that the most prominent retailers dwarf most distributors and similar moves could come in other sectors.

As much as 80% of business leaders say they are dissatisfied with their company's customer relationship management system, the cause of such dissatisfaction "lies in not considering what sales processes need improvement, and how a CRM can help," writes Brian Gardner, founder of SalesProcess360. Finding the right CRM solution first requires a thorough audit of sales inefficiencies, designating a leader to oversee CRM implementation and building an internal team of super CRM users, Gardner advises.

Sustainable procurement practices for supply chains can boost both the environment and the bottom line, writes Tony Klimas, partner and president of Horvath. According to Klimas, organizations can decrease logistics costs by up to 20% through lower fuel costs and greater efficiency.

Thirty-eight percent of business-to-business marketers experiment with AI for one use case, while 11% are trialing more than two use cases, per a Bain & Company report. The three top uses for AI by B2B marketers are encouraging recurring customers, automating marketing and documentation.

Six common errors can sidetrack your branding, writes Kelly Conkright, founder and chief brand strategist of The Brand Terminal. Common issues include failing to engage to better understand customers, neglecting the importance of company culture to spur creativity and innovation and straying from the overall strategic plan, Conkright writes.

Job growth may have slowed in April, but corporate profits are increasing, meaning an economic downturn is not necessarily impending. Most companies' first-quarter results show profit growth is on the rise, indicating the economy remains resilient, despite lingering concerns about a potential recession.

AI is transforming how companies recruit and onboard employees, making the process more efficient and productive. AI can be used for everything from writing job descriptions to culling applications for the best skill sets, allowing recruiters to assess applicants' soft skills.

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