Wholesaler-distributors have been turning to strategies such as increasing emergency stock and moving some operations to West Coast ports to overcome the supply chain disruptions posed by the East and Gulf Coast port strikes, says National Association of Wholesaler-Distributors President and CEO Eric Hoplin. Some distributors have noted a slowdown in shipments over the past few weeks, and NAW has joined 200 other trade associations in calling on President Joe Biden to shut the strike down. Hoplin also noted that the first impact to consumers will be in grocery stores, as perishable goods languish at the ports.

Republican lawmakers and trade groups are urging President Biden to use his executive powers to intervene in a dockworker strike that is expected to disrupt supply chains and increase prices. The International Longshoremen's Association strike is impacting East and Gulf Coast ports. House Transportation and Infrastructure Chairman Sam Graves and Maritime Subcommittee Chairman Daniel Webster have requested Biden to invoke the Taft-Hartley Act to end the strike, citing significant economic impacts. Biden, however, reaffirmed his stance against intervention, emphasizing the importance of collective bargaining.

US LBM has expanded its footprint in the Southeast with the acquisition of Milton Truss, a manufacturer of structural building components that serves Florida and southern Alabama. Milton Truss will operate under Raymond Building Supply, and daily operations will continue to be led by Charles Smith and Tim Noble.

Ineffective price management is causing significant profit losses for 80% of businesses, with average losses estimated in the hundreds of thousands of dollars, according to a report from Flintfox. John Moss, CEO of Flintfox International, stresses the importance of adopting advanced pricing strategies and technology to cope with market changes. Many businesses struggle with outdated tools, with 40% relying on spreadsheets, which hampers their ability to respond quickly.

Supply chain leaders need technical capabilities and an understanding of all the external challenges the industry faces, but it's essential that they learn to trust themselves and foster relationships, said futurist Morris Morrison on Monday at the Council of Supply Chain Management Professionals EDGE Conference. "If there's ever been a time for supply chain to come together, that time, that moment, is right now," said Morrison.

Salespeople should focus on solving problems for customers rather than selling products, advises David Brock, who recommends reframing the sales process as selling solutions. "The more we understand our customers, their businesses, what they do and how things get done, the better we equip ourselves to help them solve their problems," Brock writes.

CEOs must not become complacent about supply chain issues, because deglobalization, worsening geopolitical issues and sustainability imperatives continue to demand prioritization, writes David Garfield of AlixPartners. Garfield suggests five guidelines for helping leaders keep supply chain issues at the forefront, including taking a flexible approach to finance and operations, making the most out of technology and accepting the waning merits of just-in-time practices.

CFOs are facing a so-called tax trifecta -- the expiration of Tax Cuts and Jobs Act provisions in 2025, the Organization for Economic Co-Operation and Development's global tax deal and ongoing regulatory changes -- which is reshaping corporate tax functions. According to a KPMG survey, 95% of executives find the current tax environment challenging to predict. Rema Serafi, KPMG's vice chair of tax, offers guidance to navigate the complexities, including investing in AI and data analytics, fostering cross-functional collaboration and upskilling teams.

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.