US ports are responsible for 70% of the nation's international trade but lag behind in automation compared to their European and Asian counterparts, writes National Association of Wholesaler-Distributors CEO Eric Hoplin. The International Longshoremen's Association is resisting automation and threatening a strike that could cost the US economy as much as $3.7 billion per day. Hoplin calls for embracing automation to ensure US ports remain competitive.

Road and rail transportation interruptions are possible as Hurricane Helene approaches the northeast US Gulf Coast, potentially closing interstate highways, knocking out power, affecting offshore energy facilities and causing challenges at the Port of New Orleans. "[B]y embracing diversification, leveraging technology, and ensuring supply chain visibility, U.S. ports and shipping companies can stay ahead of the curve," says Frank Kenney, director of industry strategy at Cleo, a consulting firm, discussing the increasing regularity of such extreme weather events.

The OECD has slightly raised its global growth forecast for 2024 to 3.2% from 3.1%, citing the diminishing impact of central bank rate hikes and falling inflation, which are expected to boost household incomes and spending. The US Federal Reserve and European Central Bank are projected to further cut interest rates by the end of 2025, aiding economic activity. US and Chinese growth are expected to slow, but the euro zone and UK are forecasted to see improved growth amid higher wage growth.

US companies are taking measures to mitigate the impact of a potential strike at East and Gulf Coast ports, including importing early, shifting goods to the West Coast and opting for more expensive flights. Set to start Oct. 1, the strike could disrupt supply chains and impact the job market, with economists estimating a potential reduction in payrolls growth by 100,000 jobs if the labor stoppage is prolonged. Companies are developing contingency plans as the union and port operators remain at an impasse.

One way to mitigate the damage done to brand loyalty, sustainability initiatives and the bottom line by returns is to tap in to consumers' desire for renting or buying used items, writes Lee Thompson of fulfilmentcrowd, recommending a more localized method of managing the process of "re-commerce." Thompson encourages a comprehensive reverse logistics strategy that incorporates sophisticated third-party fulfillment technology and an extensive return-hub network.

Procurement should boost commercial success through a focus on addressable spend and data analysis, says Tracey Shearer, managing director of August Consulting. "A commercially-focused procurement function drives growth by aligning spend with organizational strategic objectives," Shearer says.

Identifying natural sales coaches during the recruitment process can significantly boost your sales team's performance, writes Mindy Murphy, a certified talent analyst. Murphy outlines three key strategies: leveraging talent assessments to gauge candidates' innate coaching abilities, assessing communication and listening skills during interviews, and looking for candidates with passion and enthusiasm for sales.

Company leaders should intentionally prioritize work that enhances the well-being of their teams and move away from "greedy" work cultures that can lead to health risks and economic inefficiencies, says Brigid Schulte, director of the Better Life Lab at New America. Schulte, speaking at ICMA's 2024 Annual Conference, stressed the importance of work-life balance, time management skills and the need to rethink traditional notions of productivity.

Companies have entered debt markets after the Federal Reserve's interest-rate cut to take advantage of lower borrowing costs, data shows. Ten high-grade issuers raised $12.2 billion Monday, with $20 billion to $25 billion in deals expected this week. The high-yield bond market saw its busiest day this year with 10 borrowers, while 18 leveraged-loan deals launched.

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