Sonepar is acquiring Iowa-based Echo Electric Supply Company, adding 23 branches and over 600 employees across Iowa, Nebraska, Minnesota, South Dakota and Missouri. Expected to close by the end of next month, the deal continues Sonepar's US expansion. Echo CEO Mitch Lane praised Sonepar's global resources and local strategy, while Sonepar Americas President Rob Taylor highlighted Echo's technical expertise and growth track record.

US firms increased their goods exports by 2.5% to $172.3 billion in June, according to a Commerce Department report released Wednesday. The trade gap in goods shrank by 2.5% to $96.8 billion, boosted by exports of food, capital goods and industrial supplies. However, economists say the trade gap could continue to widen as businesses stock up on imports.

Mytra, a robotics startup founded by former Tesla and Rivian employees, has introduced a warehouse robot system that could replace forklifts and move as much as 3,000 pounds within a customizable grid of steel cells. The system aims to automate and optimize warehouse operations. Albertson's is using the system, and other companies are considering it for larger-scale applications.

Supply chain organizations should start collecting data on customer-centric metrics such as customer service and experience, writes Michael Dominy, a research vice president in Gartner's CSCO Strategies and Planning team. "Supply chain leaders must work both within the supply chain organization and across the enterprise to manage customers' perceptions to improve customer loyalty," Dominy writes.

UPS will acquire Estafeta, a delivery company with Mexico City headquarters that delivers across the US border as well as domestically. "Global supply chains are shifting, Mexico's role in global trade is growing, and Mexican small and medium enterprises and manufacturing sectors are looking for reliable access to the US market," said Carol Tome, CEO of UPS.

Feel free to delegate tasks to sales representatives, sales expert Matt Sunshine advises, because delegating can help build skills and confidence. "Effective delegation goes beyond assigning responsibilities; it's about recognizing and nurturing the potential within each team member," Sunshine writes.

Leaders who frequently ask questions as part of their pursuit of learning can be perceived as weak and indecisive, writes executive coach Luis Velasquez, who suggests inquisitive leaders show their understanding of the subject, disclose their reason for asking questions and set a deadline for making a decision after listening to others' input. "Your learning mentality should be the catalyst for your personal growth and development -- not a reason for others to question your leadership," Velasquez writes.

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.