MDM CEO Tom Gale spoke on AI's growing role in distribution in Chicago at DCKAP Round-Up 2024, an event that also features talks on customer-driven innovation and omni-channel user experiences. Gale discussed AI's ability to analyze vast amounts of data, such as customer behavior, and enhance personalized engagement. He also noted the technology can level the playing field for smaller distributors without massive investment. Watch the full discussion on YouTube.

Industry observers say the Oct. 1 expiration of the contract between the International Longshoremen's Association and US Maritime Alliance will likely result in a strike by 45,000 dock workers that could disrupt operations at three dozen US ports. A shutdown at East and Gulf Coast ports could cost the economy as much as $5 billion per day, and experts estimate each day of work stoppage could result in backlogs that take up to a week to clear. Industries like pharmaceuticals and health care that rely on time-sensitive supply chains may see significant disruptions.

Gexpro Services, a subsidiary of Distribution Solutions Group, has agreed to acquire Singapore-based Tech Component Resources, a fastener and mechanical components distributor. Expected to close in by the end of the year, the deal will provide Gexpro with a foothold in Southeast Asia, enhancing its market reach in technology, semiconductor, industrial and manufacturing sectors.

Despite economic and political uncertainties, NetPlus Alliance distributor members are optimistic about achieving revenue growth in 2024. In the latest industry outlook survey, 26% of members reported sales gains of 8% or more in the second quarter, while 28% reported moderate gains. Two-thirds of respondents anticipate full-year sales increases, with product diversification, attracting new talent and enhancing operations identified as key opportunities for growth.

Many supply chain leaders regret their tech investments due to common pitfalls such as following trends without scrutiny, inaccurate assessments and lack of internal buy-in, writes Dan Luttner of Plantensive. To avoid this, leaders should verify the claims of AI tools through real-world case studies and conduct a thorough analysis of the technology's return on investment.

To optimize supply chains, consumer packaged goods brands and retailers must overcome data-sharing barriers by auditing internal data systems, creating a common data framework and using AI for real-time insights, writes Barry Bradley from Crisp. This approach can improve forecasting, inventory management and reduce waste, ultimately transforming relationships from transactional to strategic and enhancing overall efficiency and profitability.

Focusing on relationships is crucial for sustained success in sales, writes sales expert Anthony Iannarino, who recommends tips for transactional salespeople to invest in long-term relationships and trust-building. While sales based on relationships require more time and effort, relational salespeople reap the rewards through ongoing sales and referrals.

In a rapidly changing business environment, hiring adaptable talent is crucial for long-term success, writes entrepreneur and author David Finkel, who suggests companies should revamp job descriptions, invest in continuous learning and encourage internal mobility to attract such talent. "These individuals are not confined by a single expertise but instead bring a willingness to learn, handle uncertainty and pivot as needed," writes Finkel. "They thrive on challenges, seamlessly taking on various organizational roles and responsibilities."

When punitive measures were not working to correct staff misbehavior at her restaurant, Homeroom chef and entrepreneur Erin Wade writes that she turned to restorative justice, which required accountability from staff to make amends for broken rules. "This approach helped build a sense of cohesion and pride among staff and also paved the way for us to let go of high-performing jerks who were not interested in this level of personal accountability," Wade writes.

Join a select group of high-caliber professionals for an exclusive program designed to accelerate your career in wholesale distribution. This intensive, 5-day certificate program, led by seven expert faculty members from The Ohio State University, will equip students with the strategic skills and knowledge to navigate industry challenges, drive growth, and lead with confidence. Hurry, the fall program is October 21 – 25, 2024. Learn More.

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.

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.