Distributors are facing significant labor challenges, including difficulty finding qualified workers, an aging workforce and rising wages, and many distributors believe technology can address these issues by streamlining processes and enhancing productivity, according to a Baird-MDM survey. Experts suggest firms leveraging technology to attract top talent, including automating processes, engaging employees in more fulfilling roles to boost productivity and promoting a culture of digital innovation.

The leading causes of workplace injuries -- overexertion, slips, trips and falls -- also lead to the highest claim costs, with first-year employees particularly vulnerable, making up 35% of all claims, according to the Travelers' Injury Impact Report. Missed work days due to injury increased by one day to 72 days, with the construction and transportation industries logging the highest average number of lost workdays per injury. The report's findings underscore the importance of targeted risk management strategies.

Chicago-based industrial metals processor and distributor Ryerson is acquiring Connecticut-based steel and aluminum distributor Production Metals. The acquisition aims to bolster Ryerson's offerings in the Northeast. Ryerson President and CEO Eddie Lehner said Production Metals' service reputation and precision capabilities would boost the firm's value-added business.

The US trade deficit fell by 2.5% to $73.1 billion in June, led by an uptick in exports, particularly in aircraft and US-produced oil and gas, according to Census Bureau data. The narrowing deficit is welcome news, but it is unlikely to have any major impact on the outlook for the economy other than suggesting that Americans are reining in household spending.

The Ports of Tampa Bay and Fernandina in Florida closed as Hurricane Debby approached, and ports in Jacksonville, Fla., Savannah, Ga. and Charleston, S.C., along with eight intermodal hubs, are anticipating disruptions as the storm hovers over the region, potentially depositing around 30 inches of rain and leading to possible major flooding. "[B]y analyzing real-time data on hurricane paths and intensities, businesses can pre-emptively reroute shipments, secure alternative suppliers, and adjust inventory levels to mitigate potential disruptions," said John Donigian of Moody's.

Digital transformation goes beyond ecommerce and involves comprehensive strategies to enhance customer engagement and operational efficiency, according to industry leaders from Core & Main, FleetPride and Rexel. Leaders identify and discuss key challenges, including managing change and deciding between building custom solutions or adopting existing technologies.

MDM's latest podcast episode features Tom Gale and Mike Marks discussing the five critical factors for successful sales transformation, a key topic for the upcoming SHIFT conference in Denver. Gale and Marks discuss the importance of setting valid expectations, preparing appropriately, fixing poor processes, understanding customers and crafting a real strategy.

Increased efficiency, easier idea generation, more content production and improved creativity led the list of marketing benefits from generative AI in a May Capterra survey. Among challenges, maintaining authenticity came first, followed by continuing to value human creativity and making sure the content resonates with intended audience(s).

A surprisingly weak US employment report has reignited fears of a potential recession, with the jobless rate hitting a post-pandemic high. Despite a solid GDP growth of 2.8% in the second quarter and strong services sector activity, the rising unemployment rate and increasing household debt delinquencies are causing concern. While there are currently no concrete signs of a recession, "we are getting uncomfortably close," said economist Claudia Sahm.

With the presidential election cycle heating up, companies are finding it increasingly difficult to keep politics out of the workplace. Executives are emphasizing civility and neutrality, but recent events such as the assassination attempt on Donald Trump and President Biden ending his re-election bid have made political discussions unavoidable. Companies like Google and Salesforce have implemented policies to curb political discourse, while others like Hilton and Delta Air Lines are training employees in de-escalation techniques.

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.