While the first half of 2023 may continue to bring supply chain difficulties due to inflation concerns, the second half of the year may bring some stability, writes Madhav Durbha, vice president of supply chain strategy at Coupa Software. Technology solutions that "focus on delivering efficiencies and cost savings will gain ground," Durbha predicts, and while environmental, social and governance factors will remain a priority overall, "organizations will prioritize sustainability improvements that will also yield cost savings."
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More than 900 container ships will be added worldwide through 2027, boosting carrying capacity by 25%, according to a Drewry report. The influx is likely to lower ocean freight rates and to force carriers to deal with overcapacity.
Continually evolving robotics and digitization will increase the ways technology can spare humans from "hazardous procedures and harsh environments," saving money on personal protection equipment and specialized training, writes Eric Whitley, director of smart manufacturing for L2L. Technology such as digital twins can help avoid real-life danger by eliminating safety threats, Whitley asserts.
Spending on business-to-business advertising is expected to grow 9.3% this year compared to 2022, reaching $35 billion, according to a forecast from Insider Intelligence. Marketers should focus on personalized content to engage buyers and consider influencer marketing, since influencers "can engage and recommend a product or service without sounding sales-y and generate more leads by connecting to a wider audience," analyst Kelsey Voss said.
Thirty percent of sales managers this year, compared with 18% last year, are leading small teams of one to five people, according to The Center for Sales Strategy's Media Sales Report. Consultants Stephanie Downs and Susan McCullin say ensuring a strong sales enablement process, taking non-selling activities off salespeople's plates and clearly delineating and prioritizing to-dos can help.
To sustain your company's growth, a leader needs to delegate some responsibilities, writes Martin Zwilling. You can find those stellar employees to rely on by taking note of how team members make decisions, how well they interact with one another and what actions they take to meet company goals, according to advice derived from the book "The Hidden Leader" by Scott Edinger and Laurie Sain.
Avoid being seen as negative by coworkers when they present ideas by first affirming something about the idea before offering solutions or improvements, writes Karin Hurt, offering advice developed by David Dye. Gauge your feelings, too, before responding and ask to talk about an idea later if you're in a negative frame of mind, Hurt advises.