Brian Wild, National Association of Wholesaler-Distributors' chief government relations officer, shared his insights of the presidential race at the recent Commercial Vehicle Solutions Network Summit, identifying key swing states with Pennsylvania being pivotal for both candidates. Wild also highlighted ongoing political gridlock, advocated for proactive industry involvement in regulatory and legislative processes and says NAW is creating programs that will help it work with regulators and courts on policy matters.

After-tax profits for US manufacturers rose to $210.9 billion in the second quarter, up 3.8% sequentially and 5.1% from a year ago, the US Census Bureau reports. Nondurable goods manufacturers posted strong gains, while durable goods profit declined. Wholesale trade profit increased 56.7% sequentially but decreased 15% compared with Q2 last year.

The Federal Reserve is preparing for the first interest-rate cut since 2020, with officials debating between 0.25 and 0.5 percentage point. Officials are divided, with some advocating a cautious approach to avoid market panic, while others think a larger cut is necessary to support the economy.

Dakota Supply Group is opening locations in Box Elder, S.D., and Spirit Lake, Iowa, and is moving to a larger facility in Grand Rapids, Mich., an expansion that will bring the distributor's total locations to 57 in eight states. The South Dakota facility will focus on waterworks, the Iowa location will specialize in plumbing and the Michigan site will accommodate HVAC and plumbing services. The move is part of DSG's goal to provide a wider range of products and services to meet growing regional demands.

Many businesses are adapting their supply chains to better respond to their customers' needs, with the market projected to surge to $72.1 billion by 2032. Manufacturers can stay ahead of the curve with ten crucial supply chain optimization strategies for navigating the post-pandemic landscape. One of them is to implement PPRR, an acronym for prevention, preparedness, response and recovery.

Gartner emphasizes the importance of flexibility and proactivity in supply chains to navigate geopolitical risks. Gartner outlines three key actions: understanding trust boundaries, assessing elastic supply chain opportunities and using targeted scenario planning.

Five key trends essential for business-to-business growth include a true omnichannel experience, ecommerce availability and the use of generative AI to drive personalization, according to McKinsey's 2024 B2B Pulse Survey. The report, covered in-depth in this article, also explains how B2B marketers can best engage with three main decision-makers: the "adapters," "innovators" and "seekers."

Nearly half of early-stage business-to-business startups do not engage in systematic marketing, even though it can greatly enhance growth and valuation, per a study by the Smeal College of Business. The decision to adopt marketing practices is influenced by factors including a company's target customer base, development stage, the management team's previous entrepreneurial experience and investor support, writes Adi Gaskell.

CEOs in the UK, Europe and the US are facing ongoing supply chain disruptions, with 87% of US CEOs citing resiliency problems, according to Proxima's 2024 Supply Chain Barometer. The report reveals that CEOs are focusing on right shoring, AI initiatives and decarbonization efforts, although barriers and human rights concerns persist.

Managers can handle the delicate task of giving employees negative feedback by first asking the team members to rate themselves, write David Rock and Chris Weller from the NeuroLeadership Institute, a technique that creates a sense of autonomy. "Feedback about someone's performance is sensitive, and the person can quickly feel out of control and judged in the conversation," they write.

Join us in Washington, D.C., January 27 -29, for NAW's Executive Summit, bringing together the best and brightest leaders from the wholesale distribution industry. Learn more here.

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.

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.