Nonfarm business sector labor productivity increased by an annualized rate of 2.5% in the second quarter, a slight upward revision from a preliminary estimate of 2.3%, according to Labor Department data. The improved productivity was driven by a 3.5% gain in output and a 1.0% boost in hours worked.

Electrical distributor Sonepar has agreed to buy Summit Electric Supply, adding 23 branches and more than 700 employees in a move that will expand the firm's presence in Arizona, New Mexico, Texas and Louisiana. The acquisition is set to be finalized by the end of this month, pending regulatory approval. Sonepar's six deals in 2024 so far have gained the firm roughly 111 branches and added an estimated $1.6 to $2 billion in annual revenue.

Electrical distribution giant Wesco underwent a major transformation after its $4.5 billion acquisition in 2020 of Anixter International, which doubled Wesco's size and led to a multiyear integration project. Industry expert John Gunderson analyzes Wesco's digital, business model and talent innovations in recent years on the latest MDM Podcast episode, detailing how the firm has maintained its status as an industry leader amid signficant change.

Distribution mergers and acquisitions often lead to sales and marketing friction due to disjointed strategies, unclear account management and data inconsistencies. Organizations addressing these challenges should focus on transparent communication, cultural alignment, leveraging technology and fostering a unified vision, writes Carly Cais, CEO of consultancy RevvSpark. The "DMAIC" process can guide this integration by defining problems, measuring current situations, analyzing data, improving processes and controlling improvements, Cais writes.

The US Postal Service's top package delivery services failed to meet on-time performance targets during the 2023 peak holiday season, according to a report by the Office of Inspector General. Contributing factors included operational changes, severe weather and unexpected facility closures and the OIG recommends early collaboration with new transportation providers and monitoring new facilities to prevent similar issues in the upcoming 2024 peak season.

Seventy percent of the business-to-business buying journey falls under the remit of marketing, not sales, and buyers have already made a decision 84% of the time prior to even engaging with salespeople, per 6sense. "To harness that power they can wield, marketers must align closely with Sales, focus on the right accounts, and ensure comprehensive engagement with buying groups," 6sense's Kerry Cunningham writes.

Economic activity in the US has been flat or declining in most regions, with 9 out of 12 Federal Reserve districts reporting this trend, according to the Fed's Beige Book. "Employers were more selective with their hires and less likely to expand their workforces, citing concerns about demand and an uncertain economic outlook," according to the report.

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