Distributors navigating unpredictable costs due to supply chain issues and inflation should consider strategies including detailed cost analysis, optimizing inventory management, streamlining operations, implementing strategic pricing and outsourcing logistics and warehousing, writes Michelle Duffy of Pricefx. These measures help distributors mitigate the impact of cost fluctuations while maintaining profitability and customer satisfaction.

US companies are importing goods earlier than usual to counter potential shipping disruptions, rising freight rates and geopolitical issues, leading to a significant increase in import volumes at key ports, including Los Angeles, Long Beach and New York. However, experts say the strategy could be risky, requiring significant capital and potentially leading to excess inventory if consumer demand falters. Inventory-to-sales ratios at retailers reached their highest level since May 2020, according to Census Bureau data.

Existing home sales declined 5.4% in June as the US housing slump deepened. The annual rate of 3.89 million home sales in June was the lowest since December, with elevated mortgage rates and record-high prices hampering the industry. Home prices increased for the 12th consecutive month, reaching a national median of $426,900, while inventories reached the highest level since May 2020, hinting at a potential shift toward a buyer's market.

FourKites CEO Matt Elenjickal says digitization plays a critical role in supply chain management, providing real-time data and the ability to run simulations. Elenjickal notes that many companies are still not fully digitized, especially in ocean shipping, and highlights the potential of generative AI to revolutionize the industry.

Workers younger than 25 are reporting more frequent injuries than workers age 55 and up, with the proportion of work-related injuries among those with shorter tenure rising from 18% to 23% between 2017 and 2022, according to a report from the Workers Compensation Research Institute. The report says nearly three-fourths of work-related injuries from 2017 to 2022 came from five sectors -- wholesale and retail trade; manufacturing; services; health care and social assistance; and transportation, warehousing and utilities.

Business-to-business marketers offer 15 tips on solving unique B2B challenges, such as using partnership marketing to develop trust and evoking emotions when showing how your brand can address customer pain points. Adapt messaging to different buyer committee members, deliver content that's valuable to buyers and share behind-the-scenes content to showcase the people behind the brand.

Global merger and acquisition activity is up 17% so far this year compared to the same period last year, driven initially by expectations of multiple interest rate cuts. However, the Federal Reserve's decision to maintain high rates has tempered this enthusiasm, leading to a more cautious approach in Q2. North America dominated the market, accounting for 57% of global activity.

Gartner's analysis reveals that successful onboarding is critical for retaining new hires, focusing on three pivotal moments: Preboarding connections that build early commitment; creating a sense of belonging through trust-building and teamwork; and boosting new hire confidence with early feedback and celebrating small wins. Caroline Ogawa notes that addressing these aspects can help overcome challenges like candidate drop-off and low trust, ensuring new hires are more likely to stay and thrive in their roles.

Attending the Innovators Summit lets you stay updated with the latest industry developments and remain ahead of your competitors. By being aware of emerging trends and disruptive technologies, you can proactively adapt your business strategies, identify new revenue streams, and gain a competitive edge in the market. Learn more here.

In today's competitive labor market, understanding compensation trends is essential. MDM is pleased to present a free webcast discussing detailed findings from NAW's 2024 compensation study. This essential tool offers unparalleled insights into current salary and benefit trends within the wholesale distribution industry. This session will be moderated by MDM Senior Editor Vesna Brajkovic and will feature expert panelists Greg Manns of Industry Insights and Mike Emerson from Indian River Consulting. Learn more 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.