Consumer confidence in July rose to 100.3, a slight advance from the revised June figure of 97.8. Short-term expectations for income, business and the job market increased to 78.2, still under the 80 threshold that can signal a potential recession. Views of current conditions fell from 135.3 in June to 133.6 in July, as high prices continue to be a major concern.

US job openings declined slightly, from 8.23 million to 8.18 million in June, according to Labor Department data released today. Employment slipped in durable goods manufacturing but increased in accommodation and food services. Total separations were largely unchanged at 5.1 million

Southern Glazer's Wine & Spirits is set to acquire Horizon Beverage Group and its wine, spirits and beer portfolio, a move that will extend its reach to Massachusetts and Rhode Island and integrate Horizon's operations and portfolio into Southern Glazer's, marking its presence in 47 US markets. Horizon's existing leadership, including co-chairmen Bob Epstein and Jim Rubenstein, will continue to oversee operations during the transition.

Business-to-business buyers have significantly shifted to digital channels for purchasing since before the pandemic, when two-thirds of B2B purchases were made offline through email, phone, fax or in person, according to a report from Digital Commerce 360. However, buyers today use a number of channels, including mobile and digital platforms, to connect with sellers, and the omnichannel approach is now the predominant path for B2B sales, says McKinsey partner Jennifer Stanley.

Leveraging data and digitizing operations can help future-proof supply chains against extreme weather events and disasters, and Kenzie Bear, senior sustainability specialist at Conagra, says using data management allows companies to visualize their supply chain and see the big picture in the case of a disruption. Sourcing products from multiple places has become commonplace since the pandemic, and dual sourcing allows for greater assurance especially in the case of ingredients products can't be made without, said Jaime Reeves, executive vice president of product development and commercialization at Mattson.

Remote sales teams can benefit from regular communication and flexible scheduling, advises Joy Technologies CEO Samuel Darwin, who also recommends team challenges and training sessions to keep employees engaged. "Remote work comes with its own set of unique challenges, including feelings of isolation, problems keeping track of progress, and difficulty maintaining a healthy work-life balance," Darwin writes.

As a leader, you can graciously "hold space" for those around you by practicing "radical curiosity," set explicit norms for diversity, equity and inclusion and ensure all voices are heard while teaching your team how to handle conflicts gently, writes Yasmin Davidds, the founder and CEO of the Latina Global Executive Leadership Institute at USC. "This practice embodies 'Confidently Humble' -- being confident in your ability as a corporate leader to create a safe space yet humble enough to recognize that this space is fragile and needs protection," Davidds concludes.

Existing supply chain management programs are becoming more popular in higher education and some new programs are emerging as incoming students seek to solve problems they observed during the pandemic, such as the toilet paper shortage, and corporations send veteran staff to gain interdisciplinary learning. Educators say recent incoming students have a perspective that touches on a variety of supply chain needs rather than solely targeting efficiency.

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.