US business inventories dip 0.1% in March | Understand your sales process before investing in a CRM | Motion expands automation unit with Allied Circuits acquisition
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May 17, 2024
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US business inventories fell 0.1% in March, following a 0.3% rise in February, according to the Commerce Department's Census Bureau. Data points toward likely inventory restocking in the coming months, potentially boosting second-quarter GDP growth. Despite the monthly dip, inventories were up 0.7% from a year earlier, led by a 1.1% surge in motor vehicle inventories.
Full Story: Reuters (5/15) 
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Understand your sales process before investing in a CRM
Distributors seeking new customer relationship management systems should first examine their sales process, writes Proton.ai founder Benj Cohen. Distributors need a step-by-step plan that sales teams follow to close deals, according to Cohen, who notes CRM tools can only amplify existing processes. Cohen shares four practices to boost distributors' sales process and tips for finding success with CRMs.
Full Story: Modern Distribution Management (tiered subscription model) (5/14) 
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Motion is acquiring Buffalo, N.Y.-based Allied Circuits, an electrical and automation firm that will become part of Motion's automation intelligence business unit. Allied designs, manufactures and services industrial control panels and other products for a wide range of end markets in parts of New York and Ontario, Canada. The deal is expected to close later this month. Financial terms were not disclosed.
Full Story: Modern Distribution Management (tiered subscription model) (5/15),  Distribution Strategy Group (5/16) 
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The right tech can future-proof your supply chain
Supply chain management is experiencing disruption, and supply chain professionals are under increased pressure to perform and improve operations. But how can this be accomplished? Learn how In this webinar, "Why You Need a Tech-Forward Supply Chain Management Strategy."
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Operations and Technology
Slowdown in US supply chain activity seen in April
(Pixabay)
Seaborne containerized freight imports rose 8% year-over-year in April, a downtrend compared to the 16% rise in March, according to S&P Global. Factors contributing to the slower pace included diminished consumer durable goods movement, anticipation of a possible East Coast port strike and continued unpredictability in Red Sea shipping lanes.
Full Story: SupplyChainBrain (5/13) 
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Many businesses are focusing on regionalizing their supply chains, with as many as 70% planning to do so by 2028, according to Gartner. Regionalization will not succeed without investing in infrastructure and building a strong ecosystem, writes Ronak Gohel, a Gartner director analyst, who recommends making sure organizational objectives are accounted for in network design, pursuing collaborative partnerships, taking total cost into account and doing scenario planning exercises.
Full Story: SupplyChainBrain (5/14) 
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Find and engage the next generation of consumers
Fetch helps brands drive lifetime value with a deeply engaged audience. The platform is retailer agnostic, capturing billions of line-item purchases and maintaining a 360-degree view of how America shops. This infographic illustrates how and why brands work with Fetch. With visibility into $152B in retail sales annually and a gamified experience beloved by Gen Z, Fetch is America's Rewards App. Explore the infographic to learn more.
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Sales and Marketing
AI marketing tools can work best in logistics
(Pixabay)
Marketers can best use generative AI to simplify and automate logistical processes like sorting email responses and managing pipelines, writes O'Reilly Media Vice President of Content Strategy Mike Loukides. Loukides explains that the company uses AI "to make our salespeople more productive, to free their time to do things that an AI can't do--or, more appropriately, not to spend time doing things that an AI can automate."
Full Story: O'Reilly Radar blog (5/14) 
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The Business Leader
Leaders can create a culture of innovation and risk-taking by implementing a "to-test" list made up of team ideas as well as rethinking work processes and being open to unexpected solutions, says Josh Linkner, innovation expert and author of "Big Little Breakthroughs." "Let's challenge ourselves a bit to go out on a limb, to look for those oddball, unexpected, unorthodox ideas, because sometimes those are the most effective," Linkner notes.
Full Story: Betterworks (5/14) 
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5 ways to successfully lead change in your organization
(relif/Getty Images)
The business landscape is constantly changing, and you can lead that change by embracing it, inviting and supporting needed behavioral changes, taking action to communicate the changes and creating a sense of co-ownership among your team, writes executive coach Dave Coffaro. "Champion a vision of where the organization is going in the evolution of who you serve and how you deliver to your customers," Coffaro writes.
Full Story: SmartBrief/Leadership (5/15) 
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About NAW
The National Association of Wholesaler-Distributors (NAW) is one of America’s leading trade associations, representing the $8 trillion wholesale distribution industry. Our industry employs more than 6 million workers throughout the United States, accounting for approximately 1/3 of the U.S. GDP. 250,000 wholesale distribution companies operate across North America, including all 50 states. Learn more.
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