ODP Corp. holds off on separating B2B, consumer arms | How distributors can navigate economic volatility | Walmart adds fleet tech to support drivers, stores
ODP Corp. has announced it will not pursue a split into separate business-to-business and consumer companies for the time being. Instead, ODP will focus on operating its three recently formed B2B divisions and Office Depot consumer division.
Distributors should recognize that economic volatility will likely continue for the immediate future and should think of sensible ways to respond, according to Mike Marks, founding partner of Indian River Consulting Group. Amid all the noise and talk, "[y]ou just do your business and take care of your customers and your suppliers," Marks advises in this podcast.
Walmart has installed computer tablets in its fleet of 9,000 tractor trucks to provide drivers with scheduling and navigation data in near real time. The tablets, part of a partnership with Daimler Truck-backed Platform Science, also send automatic notices to store associates' handheld devices so they know when goods will be delivered and can prepare accordingly.
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President Joe Biden's recent chats with leaders of the International Longshore and Warehouse Union and Pacific Maritime Association during a Los Angeles trip underscore the stress being felt by supply chain insiders, who say that even if the labor issues don't result in strikes or lockouts at West Coast ports, any friction could still result in further slowdowns. Meanwhile, supply chain issues are continuing in the rest of the world, highlighting the need for additional workers and agility, writes Douglas Kent of the Association for Supply Chain Management.
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Sales leaders who communicate clearly, exercise patience, provide support and find ways to inject fun into the job will create motivation and engagement for their team, writes business development manager Emmanuel Afunwa. "Show appreciation for significant efforts and letting in a touch of humor often; this makes people lighten up and feel involved," Afunwa writes.
Global metaverse-related spending could reach $5 trillion by 2030, with advertising accounting for between $144 billion and $206 billion of that investment, per a report from McKinsey & Co. The research offers insights into consumer and business reactions to the metaverse, including the findings that 59% of consumers are excited to virtually experience everyday activities such as shopping, and marketing is already one of the biggest business uses of the metaverse.
Leaders are always making decisions, but business professors Don Moore and Max Bazerman argue in their new book, "Decision Leadership," that leaders must also create processes that help "their direct reports, the broader organization, consumers, investors, and other stakeholders to make decisions that maximize collective benefit through value creation." The authors make several recommendations including creating diverse teams to make better decisions.
Employers can build resilience into the workplace culture by encouraging employees to talk about their concerns, accepting negative emotions and giving employees the resources and training to get through challenging times, write Rice University's Danielle King and Megan McSpedon. "While developing a resilience effort, it is valuable to consider whether the adversity varies based on employee identity, level, or tenure," they write.