Inflation slightly above expectations in Sept. | August wholesale inventories up 0.1% in Aug. | Home Depot mandates corporate staff to work retail shifts
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October 11, 2024
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US inflation came in slightly higher than anticipated in September, slowing to 2.4% from 2.5% in August, but still over expectations of 2.3%. Core inflation climbed to 3.3% year-on-year, up from 3.2% in August, boosted by rising shelter and food costs. US stock futures slipped slightly after the news.
Full Story: Bloomberg (10/10),  Financial Times (10/10),  CNBC (10/10) 
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US wholesale inventories increased by 0.1% in August after rising 1.1% a month earlier, according to Census Bureau data. Overall, inventories were up 0.6% from a year ago. Wholesale sales declined by 0.1% in August to $670.9 billion, following a 1.1% increase in July. Inventory-to-sales ratios remained at 1.35.
Full Story: US Census Bureau (7/10) 
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Home Depot is requiring corporate employees to work eight-hour retail shifts in stores every three months to better understand the challenges faced by in-store associates. The initiative, which includes senior management and remote workers, aims to foster direct engagement with customers and frontline staff.
Full Story: Quartz (10/8),  Bloomberg (10/8) 
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US warehousing costs increased 8.3% from 2022 to 2024, according to a WarehousingAndFulfillment.com's survey. Per-square-foot warehousing costs were $7.96 in 2022 and jumped to $8.22 last year and $8.31 in the current year. Labor costs also increased significantly, with hourly wages for warehouse staff rising from $15.78 in 2022 to $16.95 in 2024.
Full Story: Modern Distribution Management (tiered subscription model) (10/9) 
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Global Industrial has embarked on a marketing partnership with UBS Arena and the NHL's New York Islanders, aiming to enhance brand awareness and customer engagement. Global Industrial will promote its tagline at Islanders home games and sponsor the Ice Crew with ice-removal equipment and branded gear. The partnership also includes community support initiatives such as promoting girls' youth hockey and honoring military service members.
Full Story: Modern Distribution Management (tiered subscription model) (10/8) 
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Operations and Technology
Distributors face challenges in maintaining accurate inventory visibility due to legacy technology and inconsistent data tracking, leading to forecasting inaccuracies and shortfalls in fill rates, writes Jeremy Centner, the pre-sales solution architect director at Sikich. To address these issues, distributors are looking at cloud-based solutions and advanced analytics to standardize data, predict demand and automate processes, ultimately reducing costs and improving service levels.
Full Story: Modern Distribution Management (tiered subscription model) (10/8) 
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AI and automation can handle predictable tasks and let people focus on the unpredictable ones, a crucial ability as companies focus on resilience in a world fraught with potential supply chain issues and other problems, writes Rasheed Mohamad. Mohamad suggests using the technology for tasks like sales and operations planning, inventory and demand forecasting.
Full Story: TechRadar (10/8) 
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Oct. outlook for ports remains positive despite strike
(Pixabay)
US ports monitored by the Global Port Tracker from the National Retail Federation and Hackett Associates are expected to handle 2.12 million 20-foot equivalent units this month, a 3.1% increase year over year that attests to the relatively insignificant effects of the recent three-day strikes at East and Gulf Coast ports. "[W]e can rest assured that all ports across the country will be working hard to meet demand, and no impact on the holiday shopping season is expected," said Jonathan Gold, NRF's vice president for supply chain and customs policy.
Full Story: DC Velocity (10/8),  Material Handling & Logistics online (10/9) 
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Sales and Marketing
Forty-one percent of business-to-business marketers expect their budget to increase in 2025, while 25% think it will remain steady and 32% expect a decrease, according to a Sagefrog report. Marketing technology is the top priority for 2025 spend, followed by direct marketing, content marketing and branding.
Full Story: MarketingProfs (free registration) (10/9) 
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The Business Leader
The World Trade Organization has revised its global trade growth forecast for 2024 upward from 2.6% to 2.7% but warns that escalating Middle East conflicts and diverging monetary policies could drag on the recovery. "We are expecting a gradual recovery in global trade for 2024, but we remain vigilant of potential setbacks, particularly the potential escalation of regional conflicts like those in the Middle East," says WTO chief Ngozi Okonjo-Iweala.
Full Story: Reuters (10/10) 
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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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