US wholesale sales increased 0.7% in the first five months of 2024 from a year ago, while sales of merchant wholesalers rose 0.4% in May, according to the Census Bureau. Ecommerce sales have shown uneven growth among distributors due to weaker manufacturing productivity, with more prominent distributors like Grainger and Fastenal reporting moderate growth and smaller distributors facing challenges. Still, the emphasis remains on shifting more sales to digital platforms.

The use of generative AI to improve procurement workflows may be adopted for mainstream use within two years, according to Gartner, which identifies it as slightly ahead of predictive analytics and slightly behind supplier sustainability applications among around 20 technologies evaluated. The path toward adoption will be marked by a greater number of use cases and growing competence with AI, says Gartner.

A new Honeywell survey of 1,600 global industrial firms found that 90% are finding unexpected new uses for AI despite only 17% fully implementing their original plans for the technology. "There is no question that AI is currently at a pivotal moment," said Honeywell Chief Strategy Officer Kevin Dehoff, citing the potential for its industrial use case to grow "exponentially" through advances in generative AI and data analytics.

Small- and medium-sized wholesale distributors are struggling with outdated legacy technology systems that hinder their ability to respond to market demands, write Chris Cleary of Acumatica and Daniel Edwards of Net at Work. Composable enterprise resource planning systems offer a core platform with customizable applications that can be integrated and updated, allowing distributors to automate processes, integrate data and leverage real-time analytics to streamline operations, reduce costs and keep pace with demands for ecommerce, they write.

US industrial starts declined in the first half of 2024, with 97.8 million square feet entering the pipeline, compared with 147 million square feet a year ago, according to CommercialEdge. "The size of the industrial supply pipeline has shrunk for six straight quarters as deliveries have outpaced starts," the company said. Still, CommercialEdge noted that reshoring trends will bolster industrial real estate in the long run.

Reusable wooden pallets that don't make it back to the companies that own and rent them can be difficult to recover, since some are stolen for organized crime operations, some are repurposed into furniture and other goods and many are simply abandoned, leading to replacement costs that can accrue to millions of dollars. Brambles, a company that leases pallets under the CHEP name, employs former law enforcement officers to track pallets down, attaches GPS devices to its pallets and turns to creative measures such as flying drones over properties as part of the search process.

Renae Gregoire, a B2B expert, explains why and how marketers should be creating content that serves audiences, putting themselves in the reader's shoes to solve problems, validate their concerns, build trust and inspire action. "When content transcends its commercial shell and becomes a vessel of service, that's when it resonates with readers," Gregoire writes.

Investors are not expecting the Federal Reserve to lower interest rates at its upcoming meeting, but recent promising economic reports could set the stage for a move in September. The jobs report for July, set to be released on Friday, could be a crucial data point.

Managers may avoid giving feedback to their direct reports because they believe it will take a long time, the message will be poorly received or they must deliver it perfectly in one meeting, writes communication and presentation skills coach Deborah Grayson Riegel. Planning a series of meetings and making it a dialogue instead of a monologue can help managers deliver the right nuance that's needed and update any feedback in a future meeting, Grayson Riegel notes.

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.