US wholesale inventories increased by 0.2% in June after jumping 0.5% a month earlier, according to Commerce Department data. Non-durable goods inventories surged 0.7%, offsetting a 0.1% decline in durable goods inventories. Wholesale sales declined by 0.6%, with non-durable goods sales dropping by 1.6% and durable goods sales rising by 0.4%. Inventory-to-sales ratios inched higher to 1.37.

Wesco has prioritized digital transformation since acquiring Anixter International in 2020, with Akash Khurana, an executive vice president who serves as chief digital officer and chief information officer, leading the integration and transformation efforts. Khurana joined the MDM Podcast to detail the electrical supplies distributor's efforts, which have led to improved customer experience and cybersecurity, streamlined operations, market share gains and margin expansion.

US companies are scaling back plans for pay raises in 2025 as the nation's hiring begins to shrink. In a survey of 1,900 companies in the second quarter, nearly half said they have reduced salary budgets for next year and reduced their median raises to 4.1% in 2024, down from 4.5% in 2023.

Procurement professionals should approach risk in a proactive manner by working with suppliers, diversifying supplier bases and investing in supplier development, writes Abby Dalton, commercial specialist. "Instead of merely securing the supply chain, procurement must become a proactive partner and look for ways to optimize the supply chain beyond the immediate purchase of the goods and services," Dalton writes.

Imports into the US by container have risen to the highest point since May 2022, according to calculations by logistics tech firm Descartes Systems Group. The group warns that these volumes may be adversely affected by factors including ongoing Middle East conflicts, difficult labor negotiations at US South Atlantic and Gulf Coast ports and reduced capacity at some hubs.

Business-to-business marketers must cultivate brand love to foster loyalty and long-term engagement among buyers craving meaningful experiences, writes Alvaro Melendez, co-founder and CEO of Crant.ai. "[B]usiness clients, much like individual consumers, form deep emotional bonds with brands, influencing their loyalty and advocacy," Melendez writes, before explaining the metrics B2B marketers can use to track brand love.

Consumer spending has bolstered the economy, but recession risks could increase if they pull back. Low-income consumers are feeling pressure from higher prices and higher interest rates, although EY-Parthenon economist Gregory Daco noted that "overall, there isn't evidence of a retrenchment in consumer spending." Still, some corporate executives have pointed to signs of caution during recent calls.

Taking brief pauses during your speech or presentation when you're transitioning from one segment to another or allowing your point to sink in with your audience can boost engagement and bring power to your message, writes speaking coach Gary Genard. "Pausing is a vitally important way to keep your audience with you -- engaged, informed and enjoying the experience," Genard 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.