Every four years, I watch the Olympics for two weeks. I love seeing the best-of-the-best vie for medals, for records, and for national glory.
Sometimes what is even more compelling than the world-class athletic feats themselves are the human-interest backstories. These personal histories are eye-openers for me. They force me to put aside my preconceived notion that all Olympic athletes are born talented, and that their achievements come to them naturally. Instead, like hurdles in a track competition, many—if not most—Olympic participants have had obstacles to overcome.
Two examples come quickly to mind. The first is Oscar Pistorius, the South African paraplegic. Because of a medical condition, his legs were amputated halfway between his knees and ankles when he was 11 months old. He runs on specially designed blades. Clearly, he had much to overcome, not the least of which was getting the South African Olympic Committee to allow him to participate alongside the "able bodied."
The second example is Katie Bell. In 2007 at the U.S. College Big Ten Championships, the 4-foot-11-inch, 95-pound platform diver got "lost" in a handstand dive off the 10-meter platform and landed flat on her stomach, dislocating some of her ribs and collapsing a lung. Thanks to therapy (both physical and psychological), she made it back onto the diving platform and eventually to the 2012 Olympic Games. She did not let her injuries or her fear stop her from achieving her best.
We are not all Olympic athletes, but each of us wants to excel in our chosen area of expertise. But we also have obstacles, preferences, likes, dislikes, and sometimes even fears. Think about these factors in relation to your job performance. Are they silently holding you back from what you want? Are they keeping you from taking your game to its highest level? It's time to identify these obstacles and deal with them, rather than allow your preferences and fears to dictate your career path.
Commit to change
In our heart of hearts, we know what our obstacles and fears are. Maybe it is public speaking, giving criticism, confronting co-workers or suppliers, or dealing with dissention. These are the things that keep us up at night, that make our pulse race, that make our mouths dry. These are the things we need to do but don't do (or don't do well) because they make us uncomfortable or fearful.
Or we may be doing the correct thing but are doing it in the wrong way because of individual preferences, likes, and dislikes. An example would be speaking too bluntly ("We are all adults; she should be able to deal with it.") or carrying out a task but not following the rules ("Who has time for all that paperwork?").
These shortcomings are hard to detect because they don't bother us like they do others. They are insidious that way. If you are prone to such problems, hopefully they will be highlighted in your annual review or will be brought to your attention in candid conversations with co-workers. Take this feedback to heart. It is a gift, and you need to make constructive use of it.
Like New Year's resolutions, you need to commit to goals and put them on paper (or computer screen, as the case may be). Write down the top two or three things that you believe are holding you back. Only select two or three, at most. That is all a person can effectively work on at one time.
Bear in mind that the list will **italic{never} be finished. Once you are satisfied that one of the obstacles on the list has been conquered, another one will almost certainly pop up to replace it. Your process should reflect the philosophy of kaizen, or constant, continuous improvement. With time, the items on your list will be more about refining a skill rather than conquering a fear.
Eleanor Roosevelt, First Lady of the United States from 1933 to 1945, said, "Do one thing every day that scares you." By doing so, she believed, people could overcome their fears and gain confidence in themselves. In our context, that means applying yourself daily to tackling your issues. With your list in mind, marshal your resources. If your fear of public speaking is limiting your career, enroll in Toastmasters. If your difficulty giving criticism is holding you back, find a book about providing constructive feedback. Other possible learning resources include community colleges, online courses, libraries, and firms that offer training or management seminars.
Some companies have a training and development budget that could cover classes that may help you to address your issues. Explore this option. It shows that you are interested in improving your skills and contributing more to the company.
Stay on track
It also helps to apply the old supply chain axiom, "If it can be measured, it can be improved." Track your efforts so you can see your progress. Unfortunately, many of the issues you may be tackling will be of a qualitative nature, which are not easy to quantify. Regardless, you need to record your efforts and your progress—and sometimes the lack thereof.
As an executive coach, I help my clients refine their skills and overcome their obstacles. Part of that process is holding them accountable for the progress they commit to make. I cannot over-emphasize how much being accountable to another person will positively affect your outcomes. Tell someone—a friend, spouse, co-worker, or online support group—about your goals and ask them to hold you to them. Just as having an exercise partner makes you go to the gym regularly, having a support person will provide an incentive for you to follow through on your self-improvement plan.
Most importantly, do not allow yourself to become daunted by your personal weaknesses or past mistakes. Olympian Oscar Pistorius' sporting motto is: "You're not disabled by the disabilities you have, you are able by the abilities you have." Use your abilities to overcome what is holding you back.
Businesses are cautiously optimistic as peak holiday shipping season draws near, with many anticipating year-over-year sales increases as they continue to battle challenging supply chain conditions.
That’s according to the DHL 2024 Peak Season Shipping Survey, released today by express shipping service provider DHL Express U.S. The company surveyed small and medium-sized enterprises (SMEs) to gauge their holiday business outlook compared to last year and found that a mix of optimism and “strategic caution” prevail ahead of this year’s peak.
Nearly half (48%) of the SMEs surveyed said they expect higher holiday sales compared to 2023, while 44% said they expect sales to remain on par with last year, and just 8% said they foresee a decline. Respondents said the main challenges to hitting those goals are supply chain problems (35%), inflation and fluctuating consumer demand (34%), staffing (16%), and inventory challenges (14%).
But respondents said they have strategies in place to tackle those issues. Many said they began preparing for holiday season earlier this year—with 45% saying they started planning in Q2 or earlier, up from 39% last year. Other strategies include expanding into international markets (35%) and leveraging holiday discounts (32%).
Sixty percent of respondents said they will prioritize personalized customer service as a way to enhance customer interactions and loyalty this year. Still others said they will invest in enhanced web and mobile experiences (23%) and eco-friendly practices (13%) to draw customers this holiday season.
The practice consists of 5,000 professionals from Accenture and from Avanade—the consulting firm’s joint venture with Microsoft. They will be supported by Microsoft product specialists who will work closely with the Accenture Center for Advanced AI. Together, that group will collaborate on AI and Copilot agent templates, extensions, plugins, and connectors to help organizations leverage their data and gen AI to reduce costs, improve efficiencies and drive growth, they said on Thursday.
Accenture and Avanade say they have already developed some AI tools for these applications. For example, a supplier discovery and risk agent can deliver real-time market insights, agile supply chain responses, and better vendor selection, which could result in up to 15% cost savings. And a procure-to-pay agent could improve efficiency by up to 40% and enhance vendor relations and satisfaction by addressing urgent payment requirements and avoiding disruptions of key services
Likewise, they have also built solutions for clients using Microsoft 365 Copilot technology. For example, they have created Copilots for a variety of industries and functions including finance, manufacturing, supply chain, retail, and consumer goods and healthcare.
Another part of the new practice will be educating clients how to use the technology, using an “Azure Generative AI Engineer Nanodegree program” to teach users how to design, build, and operationalize AI-driven applications on Azure, Microsoft’s cloud computing platform. The online classes will teach learners how to use AI models to solve real-world problems through automation, data insights, and generative AI solutions, the firms said.
“We are pleased to deepen our collaboration with Accenture to help our mutual customers develop AI-first business processes responsibly and securely, while helping them drive market differentiation,” Judson Althoff, executive vice president and chief commercial officer at Microsoft, said in a release. “By bringing together Copilots and human ambition, paired with the autonomous capabilities of an agent, we can accelerate AI transformation for organizations across industries and help them realize successful business outcomes through pragmatic innovation.”
Census data showed that overall retail sales in October were up 0.4% seasonally adjusted month over month and up 2.8% unadjusted year over year. That compared with increases of 0.8% month over month and 2% year over year in September.
October’s core retail sales as defined by NRF — based on the Census data but excluding automobile dealers, gasoline stations and restaurants — were unchanged seasonally adjusted month over month but up 5.4% unadjusted year over year.
Core sales were up 3.5% year over year for the first 10 months of the year, in line with NRF’s forecast for 2024 retail sales to grow between 2.5% and 3.5% over 2023. NRF is forecasting that 2024 holiday sales during November and December will also increase between 2.5% and 3.5% over the same time last year.
“October’s pickup in retail sales shows a healthy pace of spending as many consumers got an early start on holiday shopping,” NRF Chief Economist Jack Kleinhenz said in a release. “October sales were a good early step forward into the holiday shopping season, which is now fully underway. Falling energy prices have likely provided extra dollars for household spending on retail merchandise.”
Despite that positive trend, market watchers cautioned that retailers still need to offer competitive value propositions and customer experience in order to succeed in the holiday season. “The American consumer has been more resilient than anyone could have expected. But that isn’t a free pass for retailers to under invest in their stores,” Nikki Baird, VP of strategy & product at Aptos, a solutions provider of unified retail technology based out of Alpharetta, Georgia, said in a statement. “They need to make investments in labor, customer experience tech, and digital transformation. It has been too easy to kick the can down the road until you suddenly realize there’s no road left.”
A similar message came from Chip West, a retail and consumer behavior expert at the marketing, packaging, print and supply chain solutions provider RRD. “October’s increase proved to be slightly better than projections and was likely boosted by lower fuel prices. As inflation slowed for a number of months, prices in several categories have stabilized, with some even showing declines, offering further relief to consumers,” West said. “The data also looks to be a positive sign as we kick off the holiday shopping season. Promotions and discounts will play a prominent role in holiday shopping behavior as they are key influencers in consumer’s purchasing decisions.”
Third-party logistics (3PL) providers’ share of large real estate leases across the U.S. rose significantly through the third quarter of 2024 compared to the same time last year, as more retailers and wholesalers have been outsourcing their warehouse and distribution operations to 3PLs, according to a report from real estate firm CBRE.
Specifically, 3PLs’ share of bulk industrial leasing activity—covering leases of 100,000 square feet or more—rose to 34.1% through Q3 of this year from 30.6% through Q3 last year. By raw numbers, 3PLs have accounted for 498 bulk leases so far this year, up by 9% from the 457 at this time last year.
By category, 3PLs’ share of 34.1% ranked above other occupier types such as: general retail and wholesale (26.6), food and beverage (9.0), automobiles, tires, and parts (7.9), manufacturing (6.2), building materials and construction (5.6), e-commerce only (5.6), medical (2.7), and undisclosed (2.3).
On a quarterly basis, bulk leasing by 3PLs has steadily increased this year, reversing the steadily decreasing trend of 2023. CBRE pointed to three main reasons for that resurgence:
Import Flexibility. Labor disruptions, extreme weather patterns, and geopolitical uncertainty have led many companies to diversify their import locations. Using 3PLs allows for more inventory flexibility, a key component to retailer success in times of uncertainty.
Capital Allocation/Preservation. Warehousing and distribution of goods is expensive, draining capital resources for transportation costs, rent, or labor. But outsourcing to 3PLs provides companies with more flexibility to increase or decrease their inventories without any risk of signing their own lease commitments. And using a 3PL also allows companies to switch supply chain costs from capital to operational expenses.
Focus on Core Competency. Outsourcing their logistics operations to 3PLs allows companies to focus on core business competencies that drive revenue, such as product development, sales, and customer service.
Looking into the future, these same trends will continue to drive 3PL warehouse demand, CBRE said. Economic, geopolitical and supply chain uncertainty will remain prevalent in the coming quarters but will not diminish the need to effectively manage inventory levels.
That result came from the company’s “GEP Global Supply Chain Volatility Index,” an indicator tracking demand conditions, shortages, transportation costs, inventories, and backlogs based on a monthly survey of 27,000 businesses. The October index number was -0.39, which was up only slightly from its level of -0.43 in September.
Researchers found a steep rise in slack across North American supply chains due to declining factory activity in the U.S. In fact, purchasing managers at U.S. manufacturers made their strongest cutbacks to buying volumes in nearly a year and a half, indicating that factories in the world's largest economy are preparing for lower production volumes, GEP said.
Elsewhere, suppliers feeding Asia also reported spare capacity in October, albeit to a lesser degree than seen in Western markets. Europe's industrial plight remained a key feature of the data in October, as vendor capacity was significantly underutilized, reflecting a continuation of subdued demand in key manufacturing hubs across the continent.
"We're in a buyers' market. October is the fourth straight month that suppliers worldwide reported spare capacity, with notable contractions in factory demand across North America and Europe, underscoring the challenging outlook for Western manufacturers," Todd Bremer, vice president, GEP, said in a release. "President-elect Trump inherits U.S. manufacturers with plenty of spare capacity while in contrast, China's modest rebound and strong expansion in India demonstrate greater resilience in Asia."