The Conference Board's leading economic index fell by 0.4% in October, following a 0.3% decrease in September. Weak new orders from manufacturers was the most significant negative contributor, and manufacturing hours worked decreased significantly. Unemployment claims also increased while building permits declined, partly due to hurricanes in the Southeast.

Do it Best has officially acquired True Value, a move described as transformative for the independent hardware industry. The acquisition includes significant assets, including brand rights, inventory and paint manufacturing facilities, positioning Do it Best for growth and improved support for independent retailers. The co-op says True Value will operate as a separate subsidiary, and a new leadership team is being tasked with overseeing stability and growth.

Hillman Solutions, a fasteners and hardware distributor, plans to build a $95 million facility near its headquarters in Fairfield, Ohio. The proposed headquarters would cover 55 acres, with an additional 21 acres slated for mixed-use development. If approved, the facility could be operational by 2027.

AI can enhance industrial B2B sales by using data from buyer purchasing platforms to enhance time allocation, productivity and profitability, writes SPARXiQ CEO David Bauders. Machine learning models can forecast supplier wallet-share, customer engagement and price sensitivity, allowing for prescriptive call plans and optimized sales efforts.

Generative AI is set to revolutionize procurement through advancements in agentic reasoning, multimodality and AI agents, according to Gartner. A survey shows 72% of procurement leaders are prioritizing generative AI integration to enhance efficiency and effectiveness. "Procurement leaders who build their foundation now through a focus on data quality, privacy and risk management have the potential to reap new levels of productivity and strategic value from the technology," says Ryan Polk, senior director analyst in Gartner's Supply Chain practice.

Tech giants such as Google and OpenAI are racing to dominate AI-powered search, which uses large language models and retrieval-augmented generation to deliver personalized, conversational results. B2B marketers can adapt by focusing on context-driven content, optimizing for voice search, using predictive analytics and maintaining transparency about data usage and AI, advises Andrew Norris, marketing manager at CSP Agency.

IT leaders are under pressure to adopt AI but feel unprepared, citing gaps in infrastructure, data management and skills, according to Cisco's AI Readiness Index. Only 13% of businesses feel fully ready, but companies plan to increase the percentage of their IT budgets that goes to AI in the next five years. IT leaders can prepare by investing in scalable, secure infrastructure; developing workforce skills; fostering an AI-positive culture; and enhancing data management and governance, according to the report.

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