Hurricanes to have widespread economic impact | US antitrust cases could lead to major corporate breakups | US LBM expands in Texas with Texas Tool Traders deal
Hurricanes Milton and Helene could significantly distort upcoming economic data, including October's jobs report and GDP growth, as the storms make landfall in the US, particularly in Florida's Big Bend and previously hit areas in North Carolina. The back-to-back hurricanes are expected to disrupt labor markets, consumer spending and raise food and energy prices, potentially affecting the US economic landscape temporarily.
US antitrust enforcers are considering breaking up major companies like Google, with several high-stakes cases potentially ending a 40-year hiatus on such actions and establishing a new precedent. The Justice Department is set to propose remedies for Google's search monopoly, which could include a breakup. Other companies, such as Live Nation and Meta Platforms, are also under scrutiny.
US LBM, a leading building materials distributor, has acquired construction fasteners and tools supplier Texas Tool Traders. The move strengthens US LBM's presence in major Texas markets such as Houston, Austin, San Antonio and Dallas-Fort Worth. The acquisition is part of US LBM's strategy to enhance its product offering and service portfolio in areas with robust construction activity.
Electrical supplies distributor Sonepar recently unveiled its first national brand campaign, "Our knowledge is ELECTRIC," at the National Electrical Contractors Association convention in San Diego. The campaign, developed with PR firm Edelman, highlights Sonepar's commitment to supporting customers in navigating industry challenges. The firm plans to run the campaign on various media channels, including digital spots and outdoor advertising, through 2025.
Save a Lot is opening a 4,000 square-foot online fulfillment center in New York City that uses automation from Fabric to assemble a 50-item order in six to eight minutes, and Curt Avallone, co-chief executive of Fabric, said the technology will result in grocery prices about 30% lower than what's found in stores. Orders will be delivered in as little as 30 minutes to customers within eight miles of the center.
Pattern recognition is one of four significant assets generative AI delivers to supply chain visibility, writes Scott Tillman of Logility. The ability to capture responses in real time, improved data accuracy and data democratization that "allows organizations to uncover and utilize valuable information more easily" are the others, Tillman writes.
B2B marketers can enhance their outreach strategies by leveraging buyer intent data, which tracks online activities indicating interest in specific products, writes Karla Sanders, engagement manager at Heinz Marketing. By prioritizing high-intent leads and aligning sales and marketing efforts, businesses can achieve significant improvements in lead conversion and overall marketing success.
Focusing on priorities, habits and systems can help leaders implement behavioral change, writes Larry Robertson, an innovation advisor and founder of Lighthouse Consulting. Robertson also recommends that employees have a stake in change because "if actual behavioral change is the goal, the very people you want to change must take part and take ownership of that change."
Knowledge workers are increasingly relying on AI to manage growing workloads, according to a Wrike report. While AI has improved job performance for over half of the workers, surveys show it only supports a small portion of their workload. Employees using AI still spend nearly half their week on low-impact tasks, and business leaders are encouraged to focus on strategic AI use and employee training to enhance productivity and reduce unnecessary work.
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.
Carmen Gimenez, poet, editor, publisher, educator Hispanic Heritage Month is Sept. 15 to Oct. 15
About NAW
The National Association of Wholesaler-Distributors (NAW) is one of America’s leading trade associations, representing the $8 trillion wholesale distribution industry. Our industry employs more than 6 million workers throughout the United States, accounting for approximately 1/3 of the U.S. GDP. 250,000 wholesale distribution companies operate across North America, including all 50 states. Learn more.
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