Avient CEO: Recession has already arrived | Insight Enterprises sees Q3 profit, revenue gains | AmerisourceBergen posts small revenue gain in fiscal Q4
While some disagree on the technical definition of a recession, demand is down and recession conditions are already in place, Avient CEO Robert Patterson said during an earnings call this week. Avient posted a net loss of $10.3 million for the third quarter after posting a profit a year ago, and executives attributed the decline to high inflation, the war in Ukraine and other trends hampering demand.
Insight Enterprises reported third-quarter profit of $57.3 million, an increase from $55.4 million in the year-ago quarter. The technology distributor had quarterly revenue of $2.53 billion, up 3.3% from $2.45 billion.
AmerisourceBergen had revenue of $61.17 billion in its fiscal fourth quarter, up 3.8% from $58.91 billion a year ago. The pharmaceutical distributor earned $294.74 million in the quarter, down from $437.7 million.
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More companies are turning away from just-in-time supply chains because of ineffective communication, increasing or inaccurate costs, insufficient quality and the model's general inflexibility -- but a digital JIT approach might make all the difference. "In the future, cloud-based manufacturing tools will be the determining factor for product teams seeking production and supply chain support they can truly rely on," Fast Radius Chief Operating Officer John Nanry writes.
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Potential customers in today's ever-changing atmosphere may want to avoid making decisions, which suggests the issues they raise during a sales effort are more concerns than objections, sales consultant and speaker Anthony Iannarino writes. Sales leaders should avoid old-style objection-handling training and instead school their staff to expect concerns and offer strategies for addressing them.
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After Gabby Bernstein started her own business as an author and speaker, she says the biggest mistake she made was trying to do it all herself, which adversely affected both her mental and physical health, as well as her ability to lead her company. "Working on myself has allowed me to become the safe, creative and calm leader that my team describes today," Bernstein notes.
Roughly one-third of employees are less engaged at work, reveals a survey of over 1,600 individuals conducted by The Conference Board, which also uncovers that 36% of employees have less of a sense of belonging and 37% have less intention to remain at their current job. The Conference Board's Rebecca Ray says, "[A] likely recession may slow some of the high turnover," but adds, "For businesses to truly thrive, they should focus on improving employee engagement, no matter the employee's work location or schedule."
