WEBVTT - EVs, Meta, Metal, And Supply Chain (Podcast) 0:00:00.800 --> 0:00:04.040 Welcome to the Bloomberg Markets Podcast. I'm Paul Sweeney, alongside 0:00:04.040 --> 0:00:06.920 my co host Matt Miller. Every business day, we bring 0:00:06.960 --> 0:00:11.520 you interviews from CEOs, market pros, and Bloomberg experts, along 0:00:11.520 --> 0:00:15.600 with essential market moving news on the Bloomberg Markets Podcast, 0:00:15.600 --> 0:00:18.439 on Apple Podcasts or wherever you listen to podcasts, and 0:00:18.480 --> 0:00:24.400 at Bloomberg dot com slash podcast. Ford is investing three 0:00:24.480 --> 0:00:29.639 point seven billion dollars in factories across three Midwestern states, including, 0:00:29.640 --> 0:00:32.319 as we said, the great state of Ohio. UM, they're 0:00:32.360 --> 0:00:36.559 gonna pump out more electric vehicles and traditional gas fueled autos, 0:00:36.600 --> 0:00:41.520 including I hope the seventh generation Mustang. I'm slightly obsessed 0:00:42.080 --> 0:00:45.440 with the current GT five hundred UM, but they're gonna 0:00:46.240 --> 0:00:50.760 create more than just horsepower jobs. And I think Ford 0:00:51.000 --> 0:00:54.760 is now the biggest employing the most auto workers of 0:00:54.800 --> 0:00:57.760 any car maker in America. Let's bring in Kumar Galholtro 0:00:57.880 --> 0:01:00.640 to talk about this. He is the president of Ford Blue, 0:01:00.680 --> 0:01:04.040 which is their internal combustion business. Kumar, thanks so much 0:01:04.080 --> 0:01:08.240 for joining us talk to me about the the size 0:01:08.400 --> 0:01:13.280 and scope of Ford's employee employees. Good morning, Matt, thanks 0:01:13.280 --> 0:01:15.759 for having me. Yeah, we are as you said, We're 0:01:15.800 --> 0:01:20.640 the largest our lootto worker employer in the country. And 0:01:20.760 --> 0:01:22.800 that's not an accident. You know, this is a choice 0:01:22.920 --> 0:01:26.320 we made as a company, and we're gonna add to it. 0:01:26.319 --> 0:01:31.240 We're gonna add sixty jobs to that. Uh and uh. 0:01:31.280 --> 0:01:33.160 Those are going to be in three states, in Michigan 0:01:33.200 --> 0:01:36.679 and the great State of Ohio and in Missouri. All right, 0:01:36.760 --> 0:01:38.960 what do we know about I'm gonna be needling you 0:01:39.040 --> 0:01:44.160 for details, Kumar on the new seventh generation Mustang. I 0:01:45.120 --> 0:01:49.720 um fell in love with Gen five and I have 0:01:50.120 --> 0:01:53.920 really been convinced. Actually, Alan mollally showed me my first 0:01:53.920 --> 0:01:57.200 pictures of the sixth generation Mustang UM which was which 0:01:57.320 --> 0:02:00.600 was wonderful. And now we're expecting a new one. Is 0:02:00.600 --> 0:02:03.480 it still going to use the coyote, the famous five 0:02:03.600 --> 0:02:08.800 lead V eight famous half I need you were gonna 0:02:08.800 --> 0:02:11.280 ask that, Matt. I can't. I can't give you those 0:02:11.320 --> 0:02:13.560 details yet, but I'd love to come back and talk 0:02:14.040 --> 0:02:17.160 detailed on the must Thang, just like you. One of 0:02:17.200 --> 0:02:22.200 my favorite vehicles ever, the most iconic vehicles we've ever made. 0:02:22.240 --> 0:02:24.880 All Right, so you're at your factory in Ohio. Do 0:02:24.919 --> 0:02:27.560 you have chips at your factory in Ohio? Give us 0:02:27.560 --> 0:02:31.080 the update on this whole chips situation, because cars now 0:02:31.160 --> 0:02:36.040 use a lot of chips, don't they. Yeah, like, uh, 0:02:36.280 --> 0:02:38.720 you know a vehicle like the F one fifty can 0:02:38.800 --> 0:02:41.960 has have as many as chips in it. Yes, we 0:02:42.040 --> 0:02:46.000 have chips in Ohio. The Ohio factories running. The first 0:02:46.080 --> 0:02:49.280 quarter was not great. As you know, it's been improving 0:02:49.919 --> 0:02:52.560 and uh, I expect second half of this year to 0:02:52.600 --> 0:02:56.160 be substantially better than the first half, but it's still 0:02:56.240 --> 0:03:00.840 very volatile. You know, the Shanghai shutdown through in a volatility. 0:03:00.919 --> 0:03:03.760 I'm really glad that Shanghai is coming out of lockdown 0:03:03.800 --> 0:03:06.960 and a lot of our suppliers they're regatting production. Uh 0:03:07.000 --> 0:03:09.320 So second half fully expect to be better than than 0:03:09.400 --> 0:03:12.080 the first half. How is we know that the supply 0:03:12.160 --> 0:03:16.560 chain and the chip shortages is coming along, is limping along, 0:03:16.600 --> 0:03:17.960 and we hope it comes to an end as soon 0:03:18.000 --> 0:03:21.079 as possible. But there's also a labor shortage. We saw 0:03:21.120 --> 0:03:24.760 I think yesterday there are eleven point four million job 0:03:24.800 --> 0:03:28.440 openings in America, which is crazy. How are you doing 0:03:28.480 --> 0:03:34.880 in terms of attracting talent? We're doing actually quite well. 0:03:34.960 --> 0:03:38.080 You know, we've made announcements in Kentucky, Tennessee. We're building 0:03:38.120 --> 0:03:42.160 those plants and starting that process there. Uh, and today 0:03:42.200 --> 0:03:46.520 we're announcing we're going at jobs and what else we're 0:03:46.560 --> 0:03:49.320 doing is to your point, it's not just about creating 0:03:49.320 --> 0:03:53.640 the jobs. It's about the employee experience. So at the moment, 0:03:54.120 --> 0:03:58.360 we have three thousand temporary employees in our workforce. We 0:03:58.440 --> 0:04:01.600 are converting all of them this June this month to 0:04:01.800 --> 0:04:04.880 permanent Ford employees. So what that does is while all 0:04:04.920 --> 0:04:07.880 of those three thousand employees will get a raise, Secondly, 0:04:08.480 --> 0:04:13.640 all the employees will start getting full health coverage on 0:04:13.840 --> 0:04:17.200 day one, so that's gonna be really important. And we're 0:04:17.240 --> 0:04:20.680 also committing to investing a billion dollars over the next 0:04:20.680 --> 0:04:25.200 five years in improving the employee experience at our factory. 0:04:25.400 --> 0:04:28.320 So this is not about you know, tooling and etcetera. 0:04:28.360 --> 0:04:30.839 That's the separate two point seven billion dollars. Were investing 0:04:31.200 --> 0:04:33.960 this billion dollars over the next five years throughout our 0:04:34.120 --> 0:04:38.960 entire industrial base, all the factories, just upgrading the employee experience. 0:04:39.720 --> 0:04:44.919 Better access to healthy food, better break rooms, more security 0:04:44.960 --> 0:04:49.440 and parking lots, better lighting in parking lots, more EV chargers. 0:04:49.440 --> 0:04:52.080 So I think a combination of all that, uh, and 0:04:52.240 --> 0:04:55.359 just the pure pride people have in working for Ford 0:04:55.400 --> 0:04:59.160 and building these awesome vehicles is what helps us attract 0:04:59.680 --> 0:05:03.600 of the workforce. So com I'm I'm guessing you know 0:05:03.760 --> 0:05:07.359 car nuts like Matt and you you cruise down the 0:05:07.360 --> 0:05:11.120 street in your Ford Mustang. Part of the thrill is 0:05:11.200 --> 0:05:14.360 the roar of the engine. What happens when you guys 0:05:14.400 --> 0:05:16.839 got huge part, huge part of this part. What happens 0:05:16.839 --> 0:05:19.000 when when you guys go electric? How are you? How's 0:05:19.000 --> 0:05:24.680 the industry thinking about that? Well, in an early indication 0:05:24.760 --> 0:05:29.800 I think is the Mustang macke where we created the 0:05:29.920 --> 0:05:35.480 sound inside the vehicle, so you can pick mode that 0:05:35.520 --> 0:05:37.320 you drive that vehicle and you know, let's say you 0:05:37.360 --> 0:05:41.520 pick unbridled, and it provides this sensation of the sound 0:05:41.520 --> 0:05:44.920 that becomes part of the experience. And you know, going in, 0:05:45.360 --> 0:05:47.200 everybody was wondering how that's going to play out. The 0:05:47.240 --> 0:05:49.960 customers love it, They absolutely love it. So that's just 0:05:50.080 --> 0:05:52.240 one idea, and we're playing around with other ideas how 0:05:52.279 --> 0:05:55.080 we would replicate that experience. I actually got to test 0:05:55.160 --> 0:05:57.479 drive the Macky and I loved it. Paul was just 0:05:57.520 --> 0:05:59.160 asked me before the show, how can I never get 0:05:59.160 --> 0:06:01.599 to test drive any of the cars. I'm gonna hook 0:06:01.640 --> 0:06:03.880 you up with my point person out here, Mary Beth 0:06:03.960 --> 0:06:07.440 Child's is great at at giving me cars. She got 0:06:07.440 --> 0:06:11.520 me in last week Afford f two fifty Tremor with 0:06:11.640 --> 0:06:16.200 Godzilla under the hood, a seven point three leader V 0:06:16.360 --> 0:06:20.240 eight unbelievable, Kumar, Um, are you ever gonna put a 0:06:20.240 --> 0:06:26.520 supercharger on that? Baby? I can't say, Matt, but these 0:06:26.560 --> 0:06:28.680 are fantastic ideas. Let me check that back to the 0:06:28.680 --> 0:06:32.640 power train team. You go back to Farley's office. I 0:06:32.720 --> 0:06:35.680 know he wants to do it too, and uh yeah, 0:06:35.720 --> 0:06:42.080 it's just an amazing engine. It's basically unkillable. This this motor. Um, 0:06:42.120 --> 0:06:46.200 It's just so stout and sturdy, and the towing capacity 0:06:46.279 --> 0:06:49.000 is amazing for a gas engine. Plus the two fifty 0:06:49.040 --> 0:06:51.320 with the Tremor package on it, it is just a monster. 0:06:51.920 --> 0:06:54.479 Um alright, Kumar, it's been great talking to you. Thanks 0:06:54.480 --> 0:06:56.839 so much for joining us. Always great to get forward 0:06:56.839 --> 0:06:59.840 executives coming from Ohio. You know, typically I talked to 0:06:59.880 --> 0:07:03.920 the him in Deer Dearborn or in ann Arbor is 0:07:03.960 --> 0:07:05.920 the worst. But um, when they come from Ohio, it 0:07:06.000 --> 0:07:12.480 just makes me very happy. Now we are fortunate enough 0:07:12.520 --> 0:07:15.200 to have Emily Chang here in the studio. Typically she's 0:07:15.200 --> 0:07:19.560 on the left coast Um, usually interviewing Cheryl Sandberg. Right. 0:07:19.600 --> 0:07:22.240 I feel like you've probably interviewed Cheryl Sanderberg more than 0:07:23.200 --> 0:07:27.040 any other journalist. Interviewed her a few times yesterday, including 0:07:27.080 --> 0:07:31.560 yesterday an exclusive interview. I will also point out, which 0:07:31.600 --> 0:07:33.160 is a big deal in the in the news biz. 0:07:33.600 --> 0:07:38.840 This is to me like a huge story. If if 0:07:38.880 --> 0:07:42.320 a man of this stature were to step down after 0:07:42.440 --> 0:07:45.840 creating a company like this, we would do wall to 0:07:45.880 --> 0:07:50.080 wall coverage. Right. Um, she is without a doubt the 0:07:50.120 --> 0:07:54.800 most powerful and most well known female executive in business. 0:07:54.880 --> 0:07:57.080 And you know, I would say she is not just 0:07:57.160 --> 0:08:01.320 one of the most powerful and influential business leader, business women, 0:08:01.400 --> 0:08:02.960 business leaders in the world. She is just one of 0:08:02.960 --> 0:08:05.440 the most powerful people in business totally. She took a 0:08:05.440 --> 0:08:10.040 company that was like friends to and made Uh. They 0:08:10.040 --> 0:08:14.080 had twenty seven billion dollars in AD sales in one 0:08:14.200 --> 0:08:19.720 three month period. That's just shocking. And Facebook has one 0:08:19.800 --> 0:08:23.760 of the fattest margins in the world of business. Like 0:08:24.080 --> 0:08:26.320 all of the money they bring in for sales they 0:08:26.360 --> 0:08:29.400 put in their pockets. Right, It's made Mark Zuckerberg one 0:08:29.440 --> 0:08:32.520 of the richest people in the world. Cheryl Sandberg probably 0:08:32.559 --> 0:08:37.080 also incredibly wealthy, Yes, definitely. Also, it has touched the 0:08:37.200 --> 0:08:41.640 lives of three billion people directly right that used the platform. 0:08:41.679 --> 0:08:45.520 I just think it's an amazing story. Why is she leaving, Well, 0:08:46.000 --> 0:08:48.679 I'll tell you what she says. She says it's time. 0:08:48.800 --> 0:08:50.880 She's been there for fourteen years. She thought it would 0:08:50.920 --> 0:08:54.160 be five. She wants to spend more time with her family. 0:08:54.200 --> 0:08:56.760 She's getting married this summer. She has five kids now. 0:08:56.960 --> 0:08:59.120 She wants to spend more time on philanthropy, she wants 0:08:59.160 --> 0:09:01.360 to spend more time on her women's advocacy. And I 0:09:01.400 --> 0:09:03.840 do think what's happening with Roe versus Wade right now. 0:09:03.880 --> 0:09:06.880 I think she potentially wants to get more active there 0:09:07.000 --> 0:09:11.040 and now as the time. However, um, I think if 0:09:11.080 --> 0:09:14.199 you think about the pivot to the metaverse, whether it's 0:09:14.200 --> 0:09:16.520 a good idea or not, whether Facebook can capitalize it 0:09:16.600 --> 0:09:18.800 or not on it or not, she would have had 0:09:18.840 --> 0:09:20.640 to come up with a whole different business model or 0:09:20.679 --> 0:09:24.719 a reconstitution of Facebook's business model for the metaverse. And 0:09:24.880 --> 0:09:28.640 maybe she just didn't want to write a whole new chapter. Um, 0:09:28.679 --> 0:09:31.520 maybe she was just done and wanted to do other things. 0:09:31.840 --> 0:09:34.800 I also think that she's probably been looking for an 0:09:34.800 --> 0:09:38.319 exit for several years. And because Facebook was facing controversy 0:09:38.320 --> 0:09:40.960 after controversy after controversy, and she was often the face 0:09:41.000 --> 0:09:45.520 of those controversies or felt responsibility to clean up the mess. Um, 0:09:45.640 --> 0:09:48.920 she couldn't believe and there was never a good time. Yes, 0:09:49.080 --> 0:09:51.920 let's talk about that for a moment. Because so she 0:09:52.080 --> 0:09:54.800 wants to now step down from Facebook and do more good. 0:09:55.120 --> 0:09:57.920 Can she redeem herself? Is she going to heaven? Because 0:09:58.520 --> 0:10:02.160 Facebook is potentially one of the worst things to happen 0:10:02.240 --> 0:10:05.160 to humanity, you know, I mean, it's just made the 0:10:05.160 --> 0:10:09.760 world a worst place. Yes. And I think if if 0:10:10.040 --> 0:10:14.160 Cheryl Sandberg has any failures, she did not admit to 0:10:14.480 --> 0:10:19.120 the negative consequences that you know, Facebook has has clearly 0:10:18.800 --> 0:10:21.800 clearly created and and and of course there there could 0:10:21.800 --> 0:10:25.000 have been you know, decisions that she wanted Mark to 0:10:25.040 --> 0:10:28.439 make make that he refused to make. Sure, let's allow 0:10:28.480 --> 0:10:32.400 her that possibility. Um. But also there's no question that 0:10:32.440 --> 0:10:36.600 she does bear responsibility for the negative consequences of Facebook, 0:10:36.760 --> 0:10:42.240 and also that she was not able to repair Facebook's 0:10:42.240 --> 0:10:46.800 relationship with Washington, repair Facebook's image, and of course that 0:10:46.880 --> 0:10:48.840 then comes down to her own reputation. But can we 0:10:48.880 --> 0:10:52.439 just say that she created one of the most incredible, 0:10:52.520 --> 0:10:55.680 whether we like it or not, business models in history, 0:10:55.760 --> 0:10:58.720 not just once but twice. She did it at Google, 0:10:59.080 --> 0:11:02.440 she did it at Facebook. She wrote a transformational book 0:11:02.440 --> 0:11:04.880 that I know not everyone agrees with that was very 0:11:04.920 --> 0:11:08.040 powerful for many women, and not just women but men 0:11:08.160 --> 0:11:11.480 and women and business. And so I don't know if 0:11:11.520 --> 0:11:13.880 she's going to heaven or any of us going to heaven, 0:11:14.320 --> 0:11:18.120 but I think we do have to celebrate what she 0:11:18.240 --> 0:11:22.720 has created. Do you think she has a future in politics. 0:11:23.400 --> 0:11:25.959 I think elected office would be tough. I think it 0:11:26.000 --> 0:11:27.520 would be tough for her to win an election, and 0:11:27.600 --> 0:11:29.520 you put it everything together, the good and the bad, 0:11:29.559 --> 0:11:33.240 it's a challenge. I think appointed office maybe, And you know, 0:11:33.280 --> 0:11:36.679 maybe the more distance she puts between herself and Facebook, 0:11:36.840 --> 0:11:40.360 people start to see the good things again. And you know, 0:11:40.400 --> 0:11:42.400 I don't know if she really wants to. I do 0:11:42.520 --> 0:11:45.240 think that Cheryl is she's very ambitious. She wrote not 0:11:45.360 --> 0:11:48.520 just one but two books while she was at Facebook. 0:11:48.640 --> 0:11:52.200 She's strategic, she's smart, like I'm sure she has a 0:11:52.280 --> 0:11:57.240 plan um and but you're right, she doesn't have to. 0:11:57.679 --> 0:12:00.680 She doesn't have to, but I think she she is 0:12:00.720 --> 0:12:03.679 someone who I just from my personal interactions with her, 0:12:03.840 --> 0:12:07.280 she wants to work right, she wants to be contributing 0:12:07.800 --> 0:12:11.280 um and I don't think she will be happy just 0:12:11.559 --> 0:12:14.480 you know, quote unquote doing philanthropy, though I think that 0:12:14.480 --> 0:12:16.960 that's very important work. I think that she will want 0:12:17.000 --> 0:12:19.640 to do more and see how she can use her 0:12:19.760 --> 0:12:23.120 voice as a force for good in the future. The 0:12:23.120 --> 0:12:26.320 Bloomberg rich Go Functions says she has two point three 0:12:26.360 --> 0:12:30.320 billion dollars. I'm gonna say that's lowballing you. Our data 0:12:30.400 --> 0:12:33.680 is the best, rich Go, It's the best. Yeah, it 0:12:33.800 --> 0:12:37.400 is the definitive data. Let's say she's rich. Okay, Like 0:12:37.440 --> 0:12:39.200 I think that's a lot of money. That's a lot 0:12:39.240 --> 0:12:41.120 of money, all right, Emily Chang, thank you so much 0:12:41.160 --> 0:12:44.160 for joining us in our studio here at folks. Uh. 0:12:44.200 --> 0:12:46.640 There's really not many journals I would say, maybe not 0:12:46.720 --> 0:12:48.960 any who are as in touch with the business of 0:12:49.000 --> 0:12:51.880 Silicon Valley than Emily Chang is from her perch on 0:12:52.000 --> 0:12:53.719 the West Coast. We appreciate getting a few minutes of 0:12:53.800 --> 0:12:59.760 your time. Matt and I often like to talk about 0:13:00.240 --> 0:13:02.880 supply channel ofttimes you talk about it on a global scale, 0:13:02.880 --> 0:13:05.480 getting two ships into ports and the railroads running in 0:13:05.480 --> 0:13:07.520 the trucks and all that kind of stuff. But Iday, 0:13:07.520 --> 0:13:10.640 I drove back and forth to South Jersey yesterday on 0:13:10.679 --> 0:13:13.840 the New Jersey Turnpike and there it is just lined 0:13:14.160 --> 0:13:19.320 with UH warehouses and fulfilment centers and Amazon Prime trucks 0:13:19.400 --> 0:13:21.360 all over the place, and early makes you think about 0:13:21.400 --> 0:13:25.920 that last mile of getting stuff to stores and then 0:13:26.000 --> 0:13:30.120 stores to consumers. It is just an incredible business. Brian 0:13:30.160 --> 0:13:32.880 Kinsella joins us. He's just senior VP of Product Management 0:13:33.120 --> 0:13:37.080 at Manhattan Associates. That's a NASTAC traded company. M A 0:13:37.400 --> 0:13:39.760 n H is the ticker on your Bloomberg terminal there. 0:13:39.960 --> 0:13:43.080 Brian talked to us about kind of what retailers have 0:13:43.640 --> 0:13:45.720 been doing over the past two two and a half 0:13:45.840 --> 0:13:49.800 years as it relates to getting products to consumers. It's 0:13:49.800 --> 0:13:52.040 not just people coming into stores. It's been e commerce, 0:13:52.080 --> 0:13:54.160 it's been omni channel. What are some of the big 0:13:54.240 --> 0:13:57.840 changes that you and your clients have been dealing with. Yeah, 0:13:57.880 --> 0:14:00.920 good morning, I'm glad to be with you. Um So, yeah, 0:14:01.000 --> 0:14:03.600 it's been Uh, it's been a fun last couple of years. 0:14:03.600 --> 0:14:06.240 I mean, I think a couple of things. One. Um, 0:14:06.280 --> 0:14:08.720 if you think about the experience you have as a consumer, 0:14:09.120 --> 0:14:12.840 your expectations have really changed. When you order something now, 0:14:13.360 --> 0:14:14.960 you know it's not okay for it to come in 0:14:15.040 --> 0:14:17.040 five to seven days. You expect it in two days. 0:14:17.040 --> 0:14:19.280 And you expect to be able to reserve something online 0:14:19.320 --> 0:14:21.720 and do a curbside pick up in a couple of hours. 0:14:21.800 --> 0:14:23.920 And those things may seem a little bit simple and basic, 0:14:23.960 --> 0:14:26.920 but from a logistics and supply chain point of view, 0:14:26.960 --> 0:14:29.000 there's a lot in the background that makes that happen. 0:14:29.120 --> 0:14:33.800 So Um, it's really about speed to customer. Predictability and 0:14:33.880 --> 0:14:37.280 visibility of that delivery experience is what the data will 0:14:37.280 --> 0:14:39.920 show you will drive up your net promoter score UM 0:14:40.040 --> 0:14:43.680 and drive loyalty amongst your customers. I got a curveball 0:14:43.720 --> 0:14:45.520 for you. I got one out of left field here 0:14:46.200 --> 0:14:52.440 kind of it's related. Are you going to heaven? No? Okay? Um, Brian, Uh. 0:14:52.480 --> 0:14:54.200 You know, a couple of years ago, we were talking 0:14:54.240 --> 0:14:57.480 about the idea of drones delivering stuff and I thought 0:14:57.560 --> 0:15:01.240 it sounded ridiculous. I've heard there our pilot programs. Is 0:15:01.280 --> 0:15:04.720 that kind of thing really going to happen? You know, 0:15:04.760 --> 0:15:07.560 I think that we're in experimentation mode on a lot 0:15:07.560 --> 0:15:11.040 of different things. That's everything from from drone delivery, which 0:15:11.120 --> 0:15:15.119 is you know, obviously nascent, to robotics in the warehouse, 0:15:15.200 --> 0:15:17.960 which is further along UM and is showing some real 0:15:18.000 --> 0:15:21.840 productivity improvements, especially in a tight labor environment. UM. But 0:15:21.880 --> 0:15:23.600 if you look at you know what's happening at a 0:15:23.640 --> 0:15:27.360 macro level, employment in the warehousing and the transportation sectors 0:15:27.360 --> 0:15:30.120 has never been higher. So this is still UM you know, 0:15:30.200 --> 0:15:33.800 primarily a people driven process, both on the last mile 0:15:33.880 --> 0:15:36.840 and delivery side as well as those big warehouses that 0:15:36.920 --> 0:15:39.800 you drive by. The vast majority of that activity is 0:15:39.840 --> 0:15:42.720 powered by people today. So the last mile is your 0:15:42.840 --> 0:15:49.320 area of specific expertise. What UM is the unique selling 0:15:49.360 --> 0:15:55.840 point of Manhattan Associates, What's what's your you know, elevator pitch. Well, 0:15:55.880 --> 0:15:58.320 you know what we really do is UM. You know, 0:15:58.360 --> 0:16:01.040 we think about the totality of the stomer experience when 0:16:01.040 --> 0:16:03.040 it comes to fulfilment. So when you go online to 0:16:03.120 --> 0:16:06.160 that website, you want to know what's in that local store? 0:16:06.560 --> 0:16:08.520 When can I pick it up? Can I get the 0:16:08.600 --> 0:16:10.920 same dat delivery? Can I get a next day delivery? 0:16:11.000 --> 0:16:12.520 If I'm going to have a shift to me, how 0:16:12.520 --> 0:16:14.160 long is it going to take if I add more 0:16:14.200 --> 0:16:16.680 three or three more items to that basket? How does 0:16:16.720 --> 0:16:19.840 that change my delivery experience in terms of timing and 0:16:19.840 --> 0:16:22.520 so forth. Um So, pulling all that together, as you 0:16:22.600 --> 0:16:25.080 might imagine, there's a lot of real time data that 0:16:25.120 --> 0:16:28.080 needs to be consolidated together. Um you've got to also 0:16:28.160 --> 0:16:30.920 avoid mistakes like not offering to send you a pair 0:16:30.960 --> 0:16:33.520 of socks across town, you know, for free during the 0:16:33.800 --> 0:16:36.280 you know, for the same day delivery. So really being 0:16:36.320 --> 0:16:38.880 smart about that assortment and figuring out how to do 0:16:38.920 --> 0:16:41.480 all of this profitably. So over the course of the 0:16:41.560 --> 0:16:44.840 last few years, it's really been focused about customer experience 0:16:44.920 --> 0:16:48.440 and delivering those types of fulfilment experiences. But we've also 0:16:48.480 --> 0:16:50.920 got to look at how do we generate bottom line 0:16:50.960 --> 0:16:53.760 results from more and more of the activity that's going 0:16:53.760 --> 0:16:56.840 through these complex fulfilment channels. Brian, you mentioned one of 0:16:56.880 --> 0:16:59.600 the key ingredients for that last mild delivery of packages, 0:16:59.640 --> 0:17:02.800 and we've all seen the trucks cruising around town, you know, 0:17:02.880 --> 0:17:05.120 dropping that pair of socks off the people that they 0:17:05.160 --> 0:17:07.679 just have to have Today talk to us about the 0:17:07.760 --> 0:17:09.800 labor situation because we know there's a labor shortage for 0:17:09.840 --> 0:17:12.040 most industries out there. And I'm I'm guessing that's also 0:17:12.080 --> 0:17:14.439 true kind of in your business as well as you 0:17:14.440 --> 0:17:18.480 work with your clients. Yeah. Absolutely, And you know, before 0:17:18.560 --> 0:17:20.760 the packages get on the back of those trucks, they 0:17:20.800 --> 0:17:24.800 go through in most cases large complex distribution centers and 0:17:24.800 --> 0:17:27.760 fulfillment centers. And you know, one of the things that 0:17:27.880 --> 0:17:31.920 has been driving UM, you know, more use of automation, 0:17:32.119 --> 0:17:35.120 be it next gen automation like robotics or your classic 0:17:35.119 --> 0:17:39.800 automation is frankly the labor shortage in the labor situation. UM. 0:17:39.840 --> 0:17:42.160 You know that said, One of the things that companies 0:17:42.200 --> 0:17:43.879 can do and that we work with them on is 0:17:44.320 --> 0:17:47.520 UM really creating a better experience for the associates in 0:17:47.560 --> 0:17:50.840 the warehouse. You know, we've built some gamification technology so 0:17:50.880 --> 0:17:54.520 that UM they're real time rewards that get built into 0:17:54.560 --> 0:17:58.080 the work day, both monetary and otherwise. UM that you know, 0:17:58.119 --> 0:18:00.879 really makes it more of a modern experience orients for 0:18:01.000 --> 0:18:03.040 the younger generation as they come into some of those 0:18:03.119 --> 0:18:08.960 jobs as well. In terms of UM normalization. I mean 0:18:09.000 --> 0:18:12.680 you you you said, I think half joking that it 0:18:12.720 --> 0:18:15.160 was been a fun couple of years. I'm sure it's 0:18:15.160 --> 0:18:18.560 probably you've been the hardest two years of your career. Um, 0:18:18.600 --> 0:18:23.480 when when do we get back to normal here? Well, Um, 0:18:23.520 --> 0:18:26.399 you know, I think that it's uh, it's a matter 0:18:26.480 --> 0:18:29.760 of the things are changing on both sides of the equation. 0:18:29.800 --> 0:18:32.119 So obviously there's the supply disruption and I know you 0:18:32.119 --> 0:18:35.560 guys have covered that extensively. Um, But that the consumer 0:18:35.640 --> 0:18:39.000 continues to change. You know, that they want different ways 0:18:39.040 --> 0:18:43.720 to take delivery of products, to pay for things, contactless payments, um, 0:18:43.800 --> 0:18:45.760 you know, paying with crypto in the store. All of 0:18:45.800 --> 0:18:48.680 that stuff continues to go along. So I don't think, 0:18:49.040 --> 0:18:50.919 and I guess it's a bit cliche, but that the 0:18:50.960 --> 0:18:53.920 reality is the you know what normal looks like is 0:18:53.920 --> 0:18:56.280 going to be ongoing change and evolution. And I think 0:18:56.840 --> 0:18:59.520 especially for a lot of you know companies that we 0:18:59.600 --> 0:19:02.840 deal with, you know, they're they're chasing in some cases, 0:19:02.920 --> 0:19:05.280 and we're trying to outcompete the legs of Amazon, and 0:19:05.320 --> 0:19:09.680 we know their philosophy about continued evolution and and grow 0:19:09.760 --> 0:19:12.399 to the customer experience. So I think it's going to 0:19:12.480 --> 0:19:15.000 be you know, this pace that we've experienced the last 0:19:15.000 --> 0:19:16.600 two to three years, I think is what we can 0:19:16.600 --> 0:19:20.080 expect going forward in terms of continued investment in supply chain, 0:19:20.200 --> 0:19:24.200 in technology UM, and improving the end customer delivery experience. 0:19:24.640 --> 0:19:27.120 You mentioned Amazon dot Com and You're and obviously they're 0:19:27.160 --> 0:19:30.560 the ones that have been driving this revolution in retail 0:19:30.720 --> 0:19:35.800 over the last decades. Plural are are are the traditional retailers. 0:19:36.119 --> 0:19:39.640 How does a MoMA keep up with that? Yeah, it's 0:19:39.640 --> 0:19:42.680 a great question. We see two things. One, for the 0:19:43.240 --> 0:19:46.399 non mom pops, you know, you're much larger companies UM, 0:19:46.440 --> 0:19:50.920 they're building I T organizations and development shops to rival Amazon, 0:19:51.119 --> 0:19:54.040 or to attempt to rival Amazon and really build out 0:19:54.359 --> 0:19:56.520 a fair amount of it themselves. Now we work with 0:19:56.560 --> 0:19:58.240 a lot of those guys behind the scenes too, but 0:19:58.359 --> 0:20:01.119 the end customer experience they're trying to control. For the 0:20:01.160 --> 0:20:05.479 smaller companies, it's really about cleverly stitching together you know, 0:20:05.560 --> 0:20:09.679 some SASS solutions and cloud based technology providers to be 0:20:09.760 --> 0:20:12.919 able to deliver those types of experiences. You're also seeing 0:20:13.240 --> 0:20:17.840 some third party logistics providers really focusing on UM serving 0:20:17.880 --> 0:20:21.000 that market the book that you're describing and essentially delivering 0:20:21.000 --> 0:20:25.119 an Amazon like experience as a service. It sounds like 0:20:25.119 --> 0:20:28.480 there's no going back. Brian cain sell, A, Senior VP 0:20:28.600 --> 0:20:32.119 of Product Management in Manhattan, associates again that companies publicly 0:20:32.160 --> 0:20:34.560 traded on the NASTAC M A and H is the 0:20:34.680 --> 0:20:38.719 ticker UH for your Bloomberg terminal. The world is going 0:20:38.960 --> 0:20:43.040 continues to go e commerce, omni channel. We're gonna online, 0:20:43.040 --> 0:20:44.919 pick it up the store, all that kind of good stuff. 0:20:45.160 --> 0:20:52.640 Retail is changing. June is Pride month, and a month 0:20:52.840 --> 0:20:55.800 when we're focusing on equality issues here at Bloomberg. Today 0:20:55.800 --> 0:20:59.399 we bringing Mary Ellen is Candarian CEO and president of 0:20:59.480 --> 0:21:03.000 Women's World Banking, also author of a new book, Nothing 0:21:03.080 --> 0:21:07.119 Mike Grow, about a billion women making finance work for women. Marianne, 0:21:07.119 --> 0:21:08.600 thanks so much for joining us. I love to start 0:21:08.640 --> 0:21:11.480 off just by getting your reaction to the news that 0:21:11.600 --> 0:21:15.600 Cheryl S. Sandberg is stepping down from her CEO post 0:21:16.280 --> 0:21:20.000 at Facebook. How did you what did you read into that? Well? 0:21:20.040 --> 0:21:21.920 I have to say I hadn't heard that the stock 0:21:22.000 --> 0:21:25.399 was up on the news until just listening to the 0:21:25.440 --> 0:21:29.199 program right before we started talking. So that was interesting, 0:21:29.359 --> 0:21:33.080 very very very interesting signal there. Um. You know, she 0:21:33.280 --> 0:21:37.400 was really such a face for this movement of lean 0:21:37.520 --> 0:21:43.080 in and and you know, negotiating for what right salaries 0:21:43.200 --> 0:21:46.399 and everything everything to deserve. I know, a lot of 0:21:46.440 --> 0:21:49.640 folks felt like, you know, there was a classic line 0:21:49.680 --> 0:21:51.560 I've heard many women say, you know, sort of if 0:21:51.600 --> 0:21:53.720 I lean in any further, I'm going to fall flat 0:21:53.800 --> 0:21:56.720 on my faith. And UM, I think that a lot 0:21:56.760 --> 0:22:00.680 of that sentiment really, um, you know, hit home during 0:22:00.800 --> 0:22:03.760 during COVID, when all of the you know, sort of 0:22:03.800 --> 0:22:07.919 the third shift, all of the additional responsibilities that that 0:22:07.960 --> 0:22:11.600 women often take at home in addition to working really 0:22:11.920 --> 0:22:15.720 um just ramped up to ridiculous levels as the kids 0:22:15.720 --> 0:22:18.720 were homeschooled and people were trying to work from home 0:22:18.800 --> 0:22:21.200 and there was just, you know, so much being being juggled. 0:22:21.240 --> 0:22:23.639 So I don't know, I feel like the messages maybe 0:22:24.560 --> 0:22:28.840 moved on a bit and that hasn't necessarily updated. Um 0:22:29.000 --> 0:22:32.560 for all that we've learned, and a lot happens that happens, right, 0:22:32.600 --> 0:22:34.399 I mean it was at the time, I think it 0:22:34.480 --> 0:22:39.360 was really important, and it certainly was fascinating, and um, 0:22:40.520 --> 0:22:45.120