Why smaller distributors should join buying groups now | Walmart buys majority stake in C&S official's Symbotic | Amazon develops robots with worker safety in mind
Buying groups can help smaller distributors regionalize supply chains, negotiate better terms with suppliers and maximize rebates to add value, all of which are increasingly important amid ongoing supply chain disruptions, writes Dan Wood, head of solutions consulting at Enable. In addition, "[b]y combining the purchasing power of many companies, these groups increase the leverage their members have in negotiations over contracts and prices," Wood writes.
Walmart has purchased a 62.2% stake in Symbotic, a warehouse automation technology provider led by Rick Cohen, executive chair of C&S Wholesale Grocers. The companies recently expanded a partnership in which Symbotic's artificial intelligence-powered robotics tech and automation platform will be implemented into 42 of Walmart's regional distribution centers.
An Amazon robot (MediaNews Group/The Riverside Press-Enterprise via Getty Images)
Amazon has developed Proteus, its "first fully autonomous mobile robot" that can push large carts filled with packages around warehouses while getting around human workers, along with Cardinal, a robotic arm that is scheduled to start reading labels and picking up and sorting packages weighing as much as 50 pounds next year. Amazon is also developing artificial intelligence-powered technology to scan packages and a robot that can retrieve containers so workers don't have to climb or bend to reach products.
Three artificial intelligence technologies -- collaborative filtering, natural language processing and audio models -- enable streaming service Spotify to provide personalized song recommendations to users while increasing their engagement, writes Benj Cohen, founder of Proton. Distributors can take a similar approach by using AI to identify sales opportunities and make relevant and related product recommendations to customers, Cohen writes.
Often businesses focus on revenue enablement at the expense of other business goals, such as boosting the customer's revenue, too, writes David Brock. Companies, Brock suggests, should tweak their strategies in real time as their customers change, which will naturally bring about more revenue.
Fun, inclusivity, value and convenience will help marketers connect more deeply with consumers amid ongoing COVID-19 cases and rising inflation, Arnold Worldwide's second annual BrandUp study shows. A separate study from UpCity and Pollfish found that 51% of marketers are adjusting brand strategies to better meet changing customer needs due to the pandemic.
The watchdog group Accountable Tech has enlisted TikTok influencers in its advocacy efforts for the American Innovation and Choice Online Act. Meanwhile, opponents of the antitrust bill have partnered with an activist to post social media messages touting their perspective.
Companies create good cultures when they face problems together and are willing to have "vibrant arguments" about how to proceed, says Daniel Coyle, author of "The Culture Playbook: 60 Highly Effective Actions to Help Your Group Succeed." "Just like the functions of our body or the strength and health of our body, the strength and health of our culture depend on what we do every single day," Coyle says.
Concepts of love and work often attributed to Sigmund Freud can allow organizations to enhance employee retention by helping people deeply connect with one another and find meaning and purpose in their jobs, writes Michael Nathanson, CEO of The Colony Group. "[W]hen employees feel that their purpose is aligned with the organization's purpose, the benefits expand to include stronger employee engagement, heightened loyalty, and a greater willingness to recommend the company to others," Nathanson writes.