Consumer confidence jumped in May for the first time since January, despite continued concerns related to inflation and elevated interest rates, according to The Conference Board's latest consumer confidence index. US consumers' recession expectations increased, with more than two-thirds considering a recession somewhat or very likely in the next year, while the number of Americans planning significant purchases, such as vehicles or appliances, increased.

Many distributors hesitate to adopt advanced analytics due to past disappointments with return on investment from data-driven efforts, writes ACTvantage co-founder Senthil Gunasekaran. Despite recognizing the need to move beyond basic spreadsheet analyses, distributors often fail to implement cutting-edge tools effectively. Cognitive biases often hinder progress, Gunasekaran writes, detailing potential biases and offering tips on overcoming challenges and maximizing ROI from analytics initiatives.

Most supply chain professionals say advanced technology such as AI and machine learning will affect supply chains over the next five years, with notable achievements in predictive analytics, operational efficiency and quality assurance, but 77% have not yet integrated it, according to a survey by Inspectorio. Challenges include risk management, limited budgets, and compliance issues, with Inspectorio CEO Chirag Patel saying that the lack of AI adoption "highlights the need for tailored solutions to create an effective road map."

Ericsson successfully tested a self-flying drone for warehouse inventory checks at its Texas smart factory, utilizing 5G connectivity for high-speed data transfer. "This successful demo helps lay the foundation for future integration of 5G-powered drones in industrial settings, particularly for inventory management," says Carlos H. Torres, Industry 4.0 chief at the Ericsson 5G Smart Factory.

FedEx has ordered 150 electric trucks to add to its US fleet. The company plans to build an all-electric fleet by 2040.

The Atlantic Hurricane Season, which begins June 1, is expected to be intense along the Atlantic and Gulf Coasts because of La Nina and hot ocean waters, according to AccuWeather. Rapidly intensifying storms, with wind intensity of at least 35 mph in 24 hours or less, are expected, giving businesses little time to prepare.

Experts say storytelling is among the key traits of successful salespeople, along with other skills such as adaptability, curiosity and responsiveness. "To develop this skill, coaching reps on how to tell stories is crucial, particularly in the use of case studies, research, and other evidence that adds to the story's credibility," says business executive Craig Focht.

Help employees understand corporate strategies by connecting decisions to company goals, explaining why leaders rejected alternative plans and getting employees involved in the process, write London Business School's Constantinos Markides and Andrew MacLennan. "As strategic dialogues deepen, more employees will get involved, and with their involvement comes a greater shared familiarity of the context in which the strategy is developed," they write.

The Federal Reserve's preferred inflation gauge, the personal consumption expenditures price index minus food and energy, is expected to show a 0.2% increase for April, the smallest increase this year. Economists expect the data, due for release Friday, to show the overall PCE price index increased 0.3% for the third month in a row.

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