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August 31, 2022
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Consumer prices posted a year-on-year increase of 6.3% in July compared to 6.8% in June, according to the Commerce Department's personal consumption expenditures price index, the gauge most favored by the Federal Reserve. "We're heading in the right direction --inflation is coming down," said BNP Paribas economist Andrew Schneider. "But we're a long way off target and we think it's going to be a while -- multiple years --before we're back to target."
Full Story: The Wall Street Journal (8/26),  CBS News (8/26),  Bloomberg (8/26) 
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Explore the potential of retail with 5G.
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Operations and Technology
Parcel consolidation in last-mile delivery saves carriers money, reduces carbon emissions and optimizes the use of available capacity and drivers, according to a study by Carnegie Mellon University's Tepper School of Business and Tata Consultancy Services. Researchers also found that customers benefit from fewer missed and failed deliveries and can better plan when they'll be home to receive packages.
Full Story: Supply Chain Management Review (8/29) 
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Amid the ongoing challenges facing the trucking industry, the federal government can help smaller carriers in the short term by giving them contracts and low-cost loans, as well as covering their fuel tax costs, according to Guillermo Garcia, co-founder and CEO of SmartHop. Separately, a new industry initiative aims to create more truck driver training programs at US high schools.
Full Story: Food Logistics (8/24) 
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Sales and Marketing
Sales managers can lead by example by enlarging their network to include idea exchanges with sales professionals in other industries, blogger David Brock writes. For example, sellers of medical devices can learn something from those who sell financial services, often tweaking the other industry's methods to use in their own work, Brock writes.
Full Story: Partners in Excellence Blog (8/25) 
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Improve your email marketing campaigns
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Emailing a marketing pitch to customers you already have often pays off more than marketing to find new customers. For best reach, consider the best time for your email to arrive, send the email from a specific person rather than from the company, focus on what you can do for the customer and don't forget to ask for the sale.
Full Story: Business News Daily (7/31) 
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The Business Leader
Leaders can use a "clear-the-air" meeting to uncover hidden conflicts and ensure everyone is on the same page, writes Karin Hurt. Hurt recommends giving people time to prepare beforehand, establishing norms for the meeting and setting out tasks to complete afterward.
Full Story: Let's Grow Leaders (8/28) 
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Creating a sense of ownership and shared responsibility for success is the key to making accountability an integral part of an organization and not something leaders have to enforce in a punitive way, writes Jim Haudan. "The wise conductor doesn't hold people accountable; instead, they help people realize the importance of accountability and delivering on the promises they made to others," Haudan writes.
Full Story: Root Inc. (8/29) 
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Breakthrough Education = Groundbreaking Results
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Are you looking for professional development programs to help you retain and develop your key personnel? If yes, then the NAW Certificate in Distribution Professional Management program will help your leaders reach their highest performance levels. Learn more.
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Exclusive Networking and Thought Leadership for Your Business
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The NAW Large Company Roundtables are an exclusive community of thought leaders from Large Company distribution enterprises who congregate to network with noncompeting peers in multiple lines of trade on key issues. The companies invited into this community are from distribution firms with annual sales between $100 million and $999 million. Register today!
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It is a narrow mind which cannot look at a subject from various points of view.
George Eliot,
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