Who doesn’t love a good economic indicator? Some fall into the category of bizarre, some clever, some gloomy or even funny. In the business world, it seems every profession has at least one.
Some indicators are under the bright lights for all to see…
For example, a week-to-week increase in NFL games being blacked-out on television, means less people are buying tickets. Lower ticket sales can mean lower consumer confidence and less discretionary income. This can be an indicator of deteriorating economic conditions.
Some are hidden deep within the global supply chain…
At a recent conference of Supply Chain Management professionals, the District Manager for a global logistics provider shared an interesting observation. Recently, he began to notice a distinct shift in the nature of his sales team’s conversations with their customers.
Over the past few years, it seemed every customer conversation centered around negotiating lower prices for moving goods and materials around the globe. In the logistics profession, this is an indicator of a down economy.
By contrast, more recently customer conversations have begun centering around capacity. In other words, finding enough space on ships, planes, trains and trucks to efficiently move their goods and materials from one location to another. In the logistics profession, this transition can be seen an indicator of improving economic conditions.
Let’s hope this economic indicator falls into the category of accurate.
