Latest / Omni Talk Retail / The State of Retail Supply Chain Automation & Investment Spending with Dematic’s Kim Baudry | Spotlight Series

Transcript

The State of Retail Supply Chain Automation & Investment Spending with Dematic’s Kim Baudry | Spotlight Series · Omni Talk Retail

• 0:00
  Foreign.
• 0:08
  Welcome
• 0:08
  to
• 0:08
  another
• 0:09
  exciting
• 0:09
  and
• 0:09
  elucidating
• 0:10
  episode
• 0:10
  of
• 0:10
  the
• 0:10
  Omnitalk
• 0:11
  Retail
• 0:12
  Technology
• 0:12
  Spotlight
• 0:13
  series.
• 0:13
  I
• 0:13
  am
• 0:13
  one
• 0:14
  of
• 0:14
  your
• 0:14
  co
• 0:14
  hosts
• 0:14
  for
• 0:14
  today's
• 0:15
  interview,
• 0:15
  Chris
• 0:15
  Walton.
• 0:16
  And
• 0:16
  I'm
• 0:16
  Anne
• 0:17
  Mazinga.
• 0:18
  And
• 0:18
  we
• 0:18
  are
• 0:18
  the
• 0:18
  founders
• 0:19
  of
• 0:19
  omnitalk,
• 0:19
  the
• 0:19
  fast
• 0:20
  growing
• 0:20
  retail
• 0:20
  media
• 0:20
  organization
• 0:21
  that
• 0:21
  is
• 0:21
  all
• 0:21
  about
• 0:22
  the
• 0:22
  companies,
• 0:22
  the
• 0:22
  people
• 0:23
  and
• 0:23
  the
• 0:23
  technologies
• 0:24
  that
• 0:24
  are
• 0:24
  coming
• 0:24
  together
• 0:25
  to
• 0:25
  shape
• 0:25
  the
• 0:25
  future
• 0:26
  of
• 0:26
  retail.
• 0:27
  And
• 0:27
  she's
• 0:27
  back.
• 0:28
  She's
• 0:28
  back.
• 0:29
  And
• 0:29
  that
• 0:30
  was
• 0:30
  a
• 0:30
  little
• 0:30
  less
• 0:30
  creepy
• 0:31
  this
• 0:31
  time
• 0:31
  last
• 0:32
  time
• 0:32
  Kim
• 0:32
  was
• 0:32
  on.
• 0:33
  Yeah,
• 0:34
  you
• 0:34
  really
• 0:34
  made
• 0:34
  us
• 0:35
  want
• 0:35
  the.
• 0:35
  You
• 0:35
  want
• 0:36
  me
• 0:36
  to
• 0:36
  do
• 0:36
  that?
• 0:36
  I
• 0:36
  don't.
• 0:37
  I
• 0:37
  don't
• 0:37
  want
• 0:37
  that.
• 0:38
  Because
• 0:38
  Kim
• 0:38
  is
• 0:39
  much,
• 0:39
  much
• 0:40
  more
• 0:40
  deserving
• 0:40
  of
• 0:41
  an
• 0:41
  elegant
• 0:42
  intro,
• 0:43
  not
• 0:43
  one
• 0:43
  that
• 0:43
  reminds
• 0:44
  us
• 0:44
  of
• 0:44
  like
• 0:45
  Poltergeist
• 0:45
  or
• 0:46
  whatever
• 0:46
  we
• 0:46
  decided
• 0:46
  that
• 0:47
  one
• 0:47
  was
• 0:47
  last
• 0:47
  time.
• 0:48
  So.
• 0:48
  Yeah,
• 0:48
  right.
• 0:49
  Yeah,
• 0:49
  right,
• 0:49
  right,
• 0:49
  right.
• 0:49
  But
• 0:50
  yes,
• 0:50
  without
• 0:50
  further
• 0:51
  ado,
• 0:51
  I
• 0:51
  want
• 0:51
  to
• 0:51
  introduce
• 0:52
  thematics
• 0:53
  market
• 0:53
  development
• 0:54
  director
• 0:54
  Kim
• 0:54
  Beaudry.
• 0:55
  She's
• 0:55
  back
• 0:56
  with
• 0:56
  us
• 0:56
  once
• 0:57
  again,
• 0:57
  as
• 0:57
  she
• 0:57
  is
• 0:58
  every
• 0:58
  year
• 0:58
  to
• 0:59
  start
• 0:59
  the
• 0:59
  year,
• 0:59
  to
• 0:59
  share
• 0:59
  her
• 1:00
  expertise
• 1:00
  with
• 1:00
  us
• 1:01
  and
• 1:01
  to
• 1:01
  give
• 1:01
  us
• 1:01
  her
• 1:02
  take
• 1:02
  on
• 1:02
  the
• 1:02
  state
• 1:02
  of
• 1:03
  supply
• 1:03
  chain
• 1:04
  automation
• 1:04
  across
• 1:05
  retail.
• 1:06
  Kim,
• 1:06
  welcome
• 1:07
  back
• 1:07
  to
• 1:07
  omnitok.
• 1:08
  We
• 1:08
  were
• 1:08
  talking
• 1:08
  before
• 1:09
  we
• 1:09
  got
• 1:09
  started.
• 1:09
  What
• 1:09
  show
• 1:09
  is
• 1:10
  this
• 1:10
  for
• 1:10
  you?
• 1:10
  How
• 1:10
  many
• 1:10
  times
• 1:10
  you
• 1:11
  been
• 1:11
  on?
• 1:12
  I
• 1:12
  think
• 1:13
  it's
• 1:13
  four
• 1:14
  times.
• 1:14
  With
• 1:14
  you
• 1:14
  guys
• 1:15
  maybe.
• 1:16
  I
• 1:16
  think
• 1:16
  so.
• 1:17
  It
• 1:17
  might
• 1:17
  be
• 1:17
  five.
• 1:18
  I.
• 1:19
  I
• 1:19
  don't
• 1:19
  know.
• 1:20
  But
• 1:20
  it's.
• 1:20
  Yeah,
• 1:20
  four
• 1:21
  or
• 1:21
  five.
• 1:21
  It's.
• 1:21
  It's
• 1:22
  becoming
• 1:22
  regular
• 1:22
  and
• 1:23
  I
• 1:23
  like
• 1:23
  it.
• 1:23
  Thank
• 1:24
  you
• 1:24
  for
• 1:24
  having
• 1:24
  me
• 1:25
  back.
• 1:25
  As
• 1:25
  do
• 1:25
  we.
• 1:27
  Well,
• 1:27
  Kim,
• 1:28
  whether
• 1:28
  this
• 1:28
  is
• 1:28
  the
• 1:28
  fourth
• 1:29
  or
• 1:29
  the
• 1:29
  fifth
• 1:29
  time
• 1:29
  that
• 1:30
  we've
• 1:30
  interviewed
• 1:30
  you,
• 1:31
  it
• 1:31
  still
• 1:31
  might
• 1:31
  be
• 1:32
  the
• 1:32
  first
• 1:33
  time
• 1:33
  that
• 1:33
  some
• 1:33
  members
• 1:33
  of
• 1:33
  our
• 1:34
  audience
• 1:34
  have
• 1:35
  met
• 1:35
  you.
• 1:35
  So
• 1:35
  if
• 1:35
  you
• 1:36
  don't
• 1:36
  mind,
• 1:36
  let's
• 1:36
  just
• 1:36
  kick
• 1:37
  off
• 1:37
  with
• 1:37
  a
• 1:37
  quick
• 1:37
  intro
• 1:39
  and
• 1:39
  a
• 1:39
  little
• 1:39
  bit
• 1:39
  about
• 1:40
  Domatic
• 1:40
  for
• 1:40
  those
• 1:41
  who
• 1:41
  haven't
• 1:41
  heard
• 1:41
  of
• 1:42
  the
• 1:42
  company
• 1:42
  or
• 1:42
  just
• 1:43
  getting
• 1:43
  familiar
• 1:43
  with
• 1:43
  company.
• 1:44
  Sure.
• 1:45
  Thank
• 1:45
  you.
• 1:46
  So
• 1:46
  I'm
• 1:47
  Kim
• 1:47
  Beaudry.
• 1:48
  I
• 1:48
  am
• 1:48
  the
• 1:48
  director
• 1:49
  of
• 1:49
  market
• 1:49
  development
• 1:50
  at
• 1:51
  Domatic.
• 1:52
  That
• 1:52
  is
• 1:53
  the
• 1:53
  group
• 1:53
  of
• 1:53
  people
• 1:53
  in
• 1:54
  our
• 1:54
  company
• 1:54
  that
• 1:54
  looks
• 1:55
  over
• 1:55
  the
• 1:55
  industries
• 1:56
  and
• 1:56
  vertical
• 1:56
  markets
• 1:57
  that
• 1:57
  all
• 1:57
  of
• 1:57
  our
• 1:57
  customers
• 1:58
  operate
• 1:58
  in.
• 1:59
  It's
• 1:59
  kind
• 1:59
  of
• 1:59
  an
• 1:59
  unusual
• 2:00
  position
• 2:00
  in
• 2:01
  our
• 2:01
  company.
• 2:01
  I
• 2:01
  really
• 2:02
  love
• 2:02
  it.
• 2:02
  It's
• 2:02
  very
• 2:02
  unique.
• 2:03
  But
• 2:04
  Dematic
• 2:04
  is
• 2:06
  one
• 2:06
  of
• 2:06
  the
• 2:06
  world's
• 2:07
  largest
• 2:07
  material
• 2:07
  handling
• 2:08
  suppliers
• 2:09
  and
• 2:09
  software
• 2:09
  providers
• 2:10
  for
• 2:11
  companies
• 2:11
  that
• 2:11
  need
• 2:12
  our
• 2:12
  equipment
• 2:12
  and
• 2:12
  our
• 2:13
  software
• 2:13
  inside
• 2:13
  their
• 2:14
  distribution
• 2:14
  centers
• 2:15
  and
• 2:15
  soon
• 2:16
  outside
• 2:17
  of
• 2:17
  the
• 2:17
  network
• 2:17
  and
• 2:17
  into
• 2:18
  the
• 2:18
  network
• 2:18
  of
• 2:18
  the
• 2:18
  distribution
• 2:19
  centers.
• 2:21
  Yeah,
• 2:21
  Kim,
• 2:21
  your
• 2:21
  position
• 2:22
  is
• 2:22
  really
• 2:22
  unique
• 2:22
  and
• 2:22
  that's
• 2:23
  why
• 2:23
  we
• 2:23
  love
• 2:23
  having
• 2:23
  you
• 2:23
  on.
• 2:24
  For
• 2:24
  our
• 2:24
  audience
• 2:24
  that
• 2:24
  has
• 2:25
  not
• 2:25
  heard
• 2:25
  Kim
• 2:25
  interview
• 2:26
  with
• 2:26
  us
• 2:26
  before,
• 2:27
  she's
• 2:27
  very
• 2:28
  candid.
• 2:28
  She's
• 2:28
  very
• 2:29
  frank.
• 2:29
  She
• 2:29
  tells
• 2:29
  it
• 2:30
  like
• 2:30
  it
• 2:30
  is.
• 2:30
  And
• 2:31
  it's
• 2:31
  by
• 2:32
  nature
• 2:32
  of
• 2:32
  that
• 2:32
  position.
• 2:33
  So.
• 2:33
  All
• 2:34
  right,
• 2:34
  Kim,
• 2:34
  let's
• 2:34
  start
• 2:34
  with
• 2:35
  this.
• 2:35
  How
• 2:36
  would
• 2:36
  you
• 2:36
  sum
• 2:36
  up
• 2:37
  the
• 2:37
  state
• 2:37
  of
• 2:38
  automation
• 2:38
  and
• 2:39
  automation
• 2:40
  investments
• 2:40
  across
• 2:41
  retail
• 2:41
  right
• 2:41
  now?
• 2:43
  Well,
• 2:44
  it's
• 2:45
  interesting.
• 2:45
  We've
• 2:46
  had
• 2:46
  a
• 2:47
  couple
• 2:47
  things
• 2:48
  happening
• 2:48
  over
• 2:48
  the
• 2:48
  last
• 2:48
  few
• 2:49
  years,
• 2:49
  so
• 2:50
  a
• 2:50
  couple
• 2:50
  things
• 2:51
  we
• 2:51
  can
• 2:51
  talk
• 2:52
  about.
• 2:52
  One
• 2:53
  is
• 2:53
  that
• 2:53
  in
• 2:54
  2024,
• 2:55
  and
• 2:55
  we're
• 2:55
  predicting
• 2:56
  into
• 2:56
  2025,
• 2:57
  pretty
• 2:58
  much
• 2:58
  kind
• 2:58
  of
• 2:58
  a
• 3:00
  flattening
• 3:00
  of
• 3:00
  investment
• 3:02
  as
• 3:03
  far
• 3:03
  as
• 3:03
  high
• 3:03
  levels
• 3:04
  of
• 3:04
  automation
• 3:05
  and
• 3:05
  distribution
• 3:05
  centers.
• 3:06
  And
• 3:06
  that's
• 3:06
  not
• 3:06
  just
• 3:07
  in
• 3:07
  the
• 3:07
  US
• 3:07
  we're
• 3:08
  seeing
• 3:08
  that
• 3:08
  actually
• 3:08
  globally.
• 3:09
  Okay.
• 3:10
  You
• 3:10
  know,
• 3:11
  we're
• 3:11
  kind
• 3:11
  of
• 3:11
  flat
• 3:12
  here
• 3:12
  in
• 3:12
  the
• 3:12
  US
• 3:13
  and
• 3:13
  some
• 3:13
  regions
• 3:14
  of
• 3:14
  the
• 3:14
  world
• 3:14
  are
• 3:14
  actually
• 3:15
  seeing
• 3:15
  a
• 3:15
  decline
• 3:16
  in
• 3:16
  investment
• 3:17
  automation.
• 3:18
  But
• 3:19
  you
• 3:19
  know,
• 3:19
  that's
• 3:19
  coming
• 3:19
  out
• 3:20
  of.
• 3:20
  It's
• 3:20
  been
• 3:21
  caused
• 3:21
  by
• 3:21
  a
• 3:21
  couple
• 3:21
  things.
• 3:22
  First
• 3:23
  of
• 3:23
  all,
• 3:23
  the
• 3:23
  economy.
• 3:24
  Right.
• 3:24
  So
• 3:25
  capex
• 3:25
  expenditures
• 3:26
  have
• 3:26
  been
• 3:26
  kind
• 3:26
  of
• 3:27
  put
• 3:27
  on
• 3:27
  hold
• 3:27
  while
• 3:27
  interest
• 3:28
  rates
• 3:28
  and
• 3:28
  other
• 3:28
  things
• 3:29
  have
• 3:29
  been
• 3:30
  high.
• 3:31
  Some
• 3:31
  geopolitical
• 3:32
  uncertainty
• 3:33
  as
• 3:34
  well,
• 3:34
  causing
• 3:34
  some.
• 3:34
  People
• 3:35
  just
• 3:35
  a
• 3:35
  little.
• 3:35
  Just
• 3:36
  a
• 3:36
  little.
• 3:36
  Yeah,
• 3:36
  yeah,
• 3:37
  I'm
• 3:37
  trying
• 3:38
  to.
• 3:38
  Yeah.
• 3:38
  I
• 3:39
  won't
• 3:39
  get
• 3:39
  off
• 3:39
  on
• 3:39
  that
• 3:39
  tangent,
• 3:40
  but
• 3:41
  yeah,
• 3:41
  so
• 3:42
  yeah,
• 3:42
  so
• 3:43
  that
• 3:43
  is
• 3:43
  also
• 3:44
  causing
• 3:44
  people
• 3:44
  to
• 3:44
  kind
• 3:44
  of
• 3:45
  take
• 3:45
  pause.
• 3:45
  And
• 3:45
  then
• 3:46
  there
• 3:46
  is
• 3:46
  a
• 3:46
  third
• 3:46
  thing
• 3:47
  which
• 3:47
  is
• 3:47
  kind
• 3:47
  of,
• 3:48
  we
• 3:49
  talk
• 3:49
  about
• 3:49
  kind
• 3:50
  of
• 3:50
  the
• 3:50
  post
• 3:52
  pandemic
• 3:54
  leveling
• 3:55
  out
• 3:55
  or
• 3:56
  of
• 3:57
  automation
• 3:57
  spend,
• 3:58
  which
• 3:59
  we
• 3:59
  thought
• 3:59
  we
• 3:59
  would
• 3:59
  kind
• 4:00
  of
• 4:00
  see
• 4:00
  the
• 4:00
  end
• 4:00
  of
• 4:01
  last
• 4:01
  year.
• 4:02
  We
• 4:02
  saw
• 4:02
  huge
• 4:03
  peaks
• 4:03
  in
• 4:03
  investment
• 4:04
  and
• 4:04
  automation
• 4:05
  in
• 4:05
  21
• 4:05
  and
• 4:06
  22
• 4:06
  and
• 4:06
  then
• 4:07
  a
• 4:07
  huge
• 4:07
  drop
• 4:07
  in
• 4:08
  23
• 4:08
  and
• 4:09
  then
• 4:09
  kind
• 4:09
  of
• 4:09
  flattening
• 4:10
  in
• 4:10
  24
• 4:10
  and
• 4:11
  25.
• 4:11
  We
• 4:12
  thought
• 4:12
  we'd
• 4:12
  be
• 4:12
  turning
• 4:12
  the
• 4:12
  corner
• 4:13
  a
• 4:13
  little
• 4:13
  bit
• 4:13
  more
• 4:13
  by
• 4:14
  25.
• 4:16
  That
• 4:16
  hasn't,
• 4:17
  that's
• 4:17
  not
• 4:17
  being
• 4:18
  predicted
• 4:18
  anymore.
• 4:19
  We're
• 4:19
  still
• 4:19
  seeing
• 4:20
  kind
• 4:20
  of
• 4:20
  stagnant
• 4:21
  growth
• 4:22
  in
• 4:23
  mature
• 4:23
  handling
• 4:24
  equipment.
• 4:25
  Kim
• 4:26
  is
• 4:26
  I,
• 4:27
  I'm
• 4:27
  curious,
• 4:28
  like
• 4:28
  that's,
• 4:29
  that's
• 4:29
  maybe
• 4:29
  the
• 4:30
  trend
• 4:30
  that
• 4:30
  we're
• 4:30
  seeing.
• 4:31
  But
• 4:31
  I
• 4:31
  imagine
• 4:32
  you
• 4:32
  are
• 4:32
  talking
• 4:32
  to
• 4:32
  people
• 4:33
  who
• 4:33
  are,
• 4:34
  are
• 4:34
  not
• 4:34
  taking
• 4:34
  that
• 4:35
  route.
• 4:35
  You're
• 4:35
  talking
• 4:35
  to
• 4:35
  retailers
• 4:36
  who
• 4:36
  are
• 4:36
  making
• 4:37
  investments
• 4:37
  right
• 4:37
  now
• 4:37
  in
• 4:38
  that
• 4:38
  what
• 4:39
  is
• 4:39
  their
• 4:39
  reason
• 4:40
  or
• 4:40
  how
• 4:40
  are
• 4:40
  they
• 4:40
  justifying
• 4:41
  that
• 4:41
  capex
• 4:42
  for
• 4:42
  their
• 4:43
  executive
• 4:43
  board
• 4:44
  or
• 4:44
  for
• 4:44
  their
• 4:44
  boards
• 4:45
  for
• 4:45
  their
• 4:45
  executive
• 4:46
  teams?
• 4:46
  Like,
• 4:47
  what
• 4:47
  is
• 4:47
  their
• 4:47
  reasoning
• 4:48
  for
• 4:48
  doing
• 4:48
  it
• 4:49
  right?
• 4:49
  Well,
• 4:50
  I
• 4:50
  mean,
• 4:50
  at
• 4:50
  some
• 4:50
  point
• 4:51
  you
• 4:51
  run
• 4:51
  out
• 4:51
  of
• 4:51
  capacity
• 4:52
  or
• 4:52
  you
• 4:53
  just,
• 4:54
  you
• 4:54
  look
• 4:54
  at
• 4:54
  where
• 4:55
  you
• 4:55
  have
• 4:55
  distribution
• 4:56
  centers.
• 4:56
  Am
• 4:57
  I
• 4:57
  paying
• 4:57
  more
• 4:57
  in
• 4:57
  transportation
• 4:58
  than
• 4:59
  I
• 4:59
  am
• 4:59
  in,
• 5:00
  you
• 5:00
  know,
• 5:01
  standing
• 5:01
  up
• 5:01
  another
• 5:01
  distribution
• 5:02
  center
• 5:02
  and.
• 5:03
  Sure.
• 5:03
  And
• 5:04
  holding
• 5:04
  inventory.
• 5:05
  We
• 5:05
  are
• 5:05
  seeing
• 5:06
  investments
• 5:07
  in
• 5:07
  existing
• 5:08
  buildings.
• 5:08
  So
• 5:09
  Brownfield
• 5:10
  investment
• 5:12
  has
• 5:12
  continued.
• 5:13
  It's
• 5:14
  Just
• 5:14
  not
• 5:14
  these
• 5:15
  large,
• 5:16
  monolithic,
• 5:17
  hugely
• 5:18
  automated
• 5:18
  systems
• 5:19
  that
• 5:19
  we
• 5:19
  were
• 5:19
  seeing
• 5:20
  in,
• 5:20
  you
• 5:20
  know,
• 5:20
  during
• 5:21
  21
• 5:22
  and
• 5:22
  22.
• 5:23
  Right.
• 5:25
  Yeah,
• 5:26
  got
• 5:26
  it.
• 5:26
  More
• 5:26
  pragmatic
• 5:27
  investment.
• 5:28
  Yeah,
• 5:29
  got
• 5:29
  it.
• 5:29
  Kim.
• 5:30
  So
• 5:30
  you're
• 5:30
  saying,
• 5:30
  so
• 5:30
  you're
• 5:31
  saying
• 5:31
  during
• 5:31
  the
• 5:31
  pandemic
• 5:31
  we
• 5:32
  saw
• 5:32
  a
• 5:32
  rush
• 5:32
  of
• 5:32
  money
• 5:33
  and
• 5:33
  investment
• 5:34
  in,
• 5:34
  in
• 5:35
  automation
• 5:35
  technologies
• 5:36
  partially
• 5:36
  fueled
• 5:37
  by,
• 5:37
  you
• 5:37
  know,
• 5:37
  probably
• 5:37
  needing
• 5:38
  to
• 5:38
  get
• 5:38
  goods
• 5:38
  out
• 5:38
  the
• 5:38
  door
• 5:39
  faster
• 5:39
  for
• 5:39
  E
• 5:39
  Commerce
• 5:40
  particularly.
• 5:41
  And
• 5:41
  now
• 5:41
  you're
• 5:42
  saying
• 5:42
  overall
• 5:43
  the
• 5:43
  market
• 5:43
  is
• 5:44
  going
• 5:44
  to
• 5:44
  be
• 5:44
  flat.
• 5:44
  The
• 5:45
  predictions
• 5:45
  are,
• 5:45
  the
• 5:45
  forecasts
• 5:46
  are
• 5:46
  flat,
• 5:46
  if
• 5:46
  not
• 5:47
  down
• 5:47
  in
• 5:47
  the
• 5:47
  coming
• 5:48
  years.
• 5:48
  So,
• 5:49
  so
• 5:49
  an.
• 5:49
  I
• 5:49
  don't
• 5:49
  know
• 5:49
  what
• 5:50
  we're
• 5:50
  going
• 5:50
  to
• 5:50
  do.
• 5:50
  I
• 5:50
  mean,
• 5:50
  we
• 5:50
  like
• 5:51
  talking
• 5:51
  about
• 5:51
  all
• 5:51
  this
• 5:51
  cool,
• 5:52
  sexy
• 5:52
  automation
• 5:52
  stuff.
• 5:53
  Like,
• 5:53
  you
• 5:53
  know,
• 5:54
  I
• 5:54
  mean,
• 5:54
  believe
• 5:54
  me,
• 5:55
  me
• 5:55
  too.
• 5:56
  I
• 5:57
  bet,
• 5:57
  Kim,
• 5:57
  I
• 5:58
  bet.
• 5:58
  Well,
• 5:59
  I
• 5:59
  mean,
• 5:59
  Kim,
• 5:59
  what
• 5:59
  does
• 6:00
  this
• 6:00
  mean
• 6:00
  for
• 6:00
  the
• 6:00
  industry
• 6:01
  then?
• 6:01
  Like
• 6:01
  what,
• 6:02
  what
• 6:02
  can
• 6:02
  we
• 6:03
  talk
• 6:03
  about
• 6:03
  today
• 6:04
  that
• 6:04
  that's
• 6:06
  they
• 6:06
  start
• 6:07
  planning
• 6:07
  on?
• 6:07
  At
• 6:07
  least
• 6:08
  let's
• 6:08
  focus
• 6:08
  on
• 6:08
  the
• 6:08
  good
• 6:09
  here.
• 6:09
  I
• 6:09
  guess.
• 6:09
  Let's
• 6:10
  do
• 6:10
  that.
• 6:10
  We
• 6:10
  shall
• 6:10
  do
• 6:11
  that.
• 6:12
  Because
• 6:12
  I'm
• 6:12
  not
• 6:12
  saying
• 6:12
  like
• 6:13
  everything's
• 6:13
  dead.
• 6:14
  That's
• 6:14
  not
• 6:14
  the
• 6:14
  message
• 6:15
  really.
• 6:16
  And
• 6:16
  the
• 6:16
  other
• 6:16
  thing
• 6:16
  is
• 6:17
  that
• 6:17
  I
• 6:17
  was
• 6:18
  talking
• 6:18
  to
• 6:18
  a
• 6:18
  customer
• 6:20
  who,
• 6:21
  you
• 6:21
  know,
• 6:21
  one
• 6:21
  of
• 6:21
  our
• 6:22
  customers
• 6:22
  who
• 6:22
  actually
• 6:23
  did
• 6:23
  a
• 6:23
  lot
• 6:23
  of
• 6:23
  automation
• 6:25
  during
• 6:25
  the
• 6:26
  pandemic.
• 6:27
  And
• 6:28
  back
• 6:28
  then
• 6:28
  it
• 6:28
  was
• 6:29
  easier
• 6:29
  for
• 6:29
  people
• 6:29
  to
• 6:30
  get
• 6:31
  projects
• 6:31
  approved
• 6:32
  because
• 6:32
  E
• 6:33
  commerce
• 6:33
  was
• 6:33
  going
• 6:33
  through
• 6:34
  the
• 6:34
  roof.
• 6:34
  Right,
• 6:34
  right.
• 6:35
  Money
• 6:35
  is
• 6:36
  flowing.
• 6:36
  Right.
• 6:37
  And
• 6:37
  so
• 6:38
  the
• 6:38
  biggest
• 6:38
  problem
• 6:38
  they
• 6:38
  were
• 6:39
  solving
• 6:39
  for
• 6:39
  really
• 6:39
  was
• 6:40
  order
• 6:40
  fulfillment.
• 6:41
  So
• 6:41
  they
• 6:41
  put
• 6:41
  in,
• 6:41
  you
• 6:42
  know,
• 6:42
  ASRs
• 6:43
  Tickets
• 6:44
  to
• 6:44
  Person
• 6:44
  Solutions
• 6:45
  as
• 6:45
  an
• 6:45
  example
• 6:46
  to
• 6:47
  handle
• 6:48
  the
• 6:48
  order
• 6:48
  fulfillment
• 6:49
  part
• 6:49
  of
• 6:49
  what
• 6:49
  they
• 6:49
  were
• 6:49
  doing.
• 6:50
  But
• 6:50
  they
• 6:50
  did,
• 6:50
  we
• 6:50
  did
• 6:51
  everything
• 6:51
  in
• 6:51
  kind
• 6:51
  of
• 6:51
  a
• 6:51
  rush
• 6:52
  and
• 6:53
  we're
• 6:53
  now
• 6:54
  finding
• 6:54
  out
• 6:54
  that,
• 6:54
  whoa,
• 6:55
  we
• 6:55
  didn't,
• 6:55
  you
• 6:56
  know,
• 6:56
  we
• 6:56
  need
• 6:56
  to
• 6:56
  step
• 6:57
  back
• 6:57
  and
• 6:57
  look
• 6:57
  at
• 6:58
  all
• 6:58
  of
• 6:58
  the
• 6:58
  other
• 6:58
  connective
• 6:59
  parts
• 6:59
  of
• 6:59
  the
• 6:59
  warehouse
• 7:00
  that
• 7:02
  should
• 7:02
  have
• 7:02
  been
• 7:02
  looked
• 7:03
  at
• 7:03
  if
• 7:03
  we
• 7:04
  weren't
• 7:04
  rushing.
• 7:04
  Right.
• 7:05
  So
• 7:05
  when
• 7:06
  you
• 7:06
  stand
• 7:06
  up
• 7:07
  a
• 7:07
  really
• 7:08
  high
• 7:08
  volume,
• 7:08
  high
• 7:09
  processing
• 7:09
  piece
• 7:09
  of
• 7:10
  equipment
• 7:10
  or
• 7:10
  a
• 7:10
  solution
• 7:11
  and
• 7:11
  it's
• 7:11
  only
• 7:11
  one
• 7:12
  part
• 7:12
  of
• 7:12
  the
• 7:12
  distribution
• 7:13
  center
• 7:13
  and
• 7:13
  you
• 7:14
  haven't
• 7:14
  taken
• 7:15
  into
• 7:15
  consideration
• 7:16
  how
• 7:16
  you
• 7:16
  receive
• 7:16
  product,
• 7:17
  how
• 7:18
  you
• 7:18
  store
• 7:18
  product,
• 7:18
  how
• 7:19
  you
• 7:19
  get
• 7:19
  product
• 7:19
  out
• 7:19
  of
• 7:20
  storage
• 7:20
  and
• 7:20
  how
• 7:20
  you
• 7:20
  ship
• 7:20
  product,
• 7:21
  you
• 7:22
  could
• 7:22
  end
• 7:22
  up
• 7:22
  with
• 7:23
  the
• 7:23
  really
• 7:24
  high
• 7:24
  velocity,
• 7:25
  high
• 7:25
  volume
• 7:25
  piece
• 7:26
  of
• 7:26
  equipment
• 7:26
  causing
• 7:27
  log
• 7:27
  jams
• 7:27
  in
• 7:27
  other
• 7:28
  part
• 7:28
  of
• 7:28
  parts
• 7:28
  of
• 7:29
  your
• 7:29
  building.
• 7:30
  So
• 7:30
  we
• 7:30
  are
• 7:30
  seeing
• 7:30
  customers
• 7:31
  now
• 7:31
  kind
• 7:31
  of
• 7:31
  going
• 7:32
  back
• 7:32
  and
• 7:32
  just
• 7:32
  really
• 7:33
  looking
• 7:33
  for
• 7:33
  ways
• 7:34
  to
• 7:34
  invest
• 7:34
  in
• 7:34
  making
• 7:35
  those
• 7:36
  other
• 7:36
  parts
• 7:36
  of
• 7:36
  a
• 7:37
  building
• 7:37
  work
• 7:37
  more
• 7:37
  efficiently.
• 7:39
  And
• 7:39
  so
• 7:39
  I
• 7:40
  do
• 7:40
  see,
• 7:40
  I
• 7:41
  do
• 7:41
  see
• 7:41
  that
• 7:41
  happening.
• 7:42
  Right.
• 7:42
  So
• 7:42
  taking,
• 7:42
  you
• 7:43
  know,
• 7:43
  finding
• 7:43
  out
• 7:43
  now
• 7:44
  that
• 7:44
  the
• 7:45
  automation
• 7:45
  that
• 7:45
  we
• 7:46
  invested
• 7:46
  in
• 7:46
  to
• 7:47
  get
• 7:47
  E
• 7:47
  Commerce
• 7:47
  Orders
• 7:48
  out
• 7:48
  the
• 7:48
  door
• 7:48
  had
• 7:49
  an
• 7:49
  impact
• 7:49
  on
• 7:49
  other
• 7:49
  parts
• 7:50
  of
• 7:50
  what
• 7:50
  we're
• 7:50
  doing.
• 7:50
  And
• 7:50
  we
• 7:51
  need
• 7:51
  to
• 7:51
  really
• 7:51
  kind
• 7:51
  of
• 7:51
  think
• 7:51
  about
• 7:52
  a
• 7:53
  operationally,
• 7:53
  how
• 7:53
  do
• 7:54
  we
• 7:54
  run
• 7:54
  those
• 7:54
  things
• 7:55
  better
• 7:55
  and
• 7:55
  if
• 7:56
  there
• 7:56
  is
• 7:56
  a
• 7:56
  need
• 7:56
  for
• 7:56
  automation
• 7:57
  in
• 7:57
  those
• 7:58
  other
• 7:58
  areas,
• 7:59
  should
• 7:59
  we
• 7:59
  be
• 7:59
  doing
• 7:59
  about
• 8:00
  it?
• 8:00
  So
• 8:00
  we
• 8:01
  do
• 8:01
  see
• 8:01
  that
• 8:01
  happening
• 8:02
  as
• 8:02
  well
• 8:03
  as.
• 8:04
  Yeah.
• 8:04
  And
• 8:04
  Kim,
• 8:05
  are
• 8:05
  you
• 8:05
  seeing
• 8:06
  that
• 8:06
  the,
• 8:07
  the
• 8:07
  retailers
• 8:07
  who
• 8:08
  are
• 8:08
  kind
• 8:08
  of
• 8:08
  doing
• 8:09
  this,
• 8:09
  this,
• 8:11
  this
• 8:11
  look
• 8:12
  back
• 8:12
  at,
• 8:12
  you
• 8:13
  know,
• 8:13
  how
• 8:13
  things
• 8:13
  are
• 8:13
  operating?
• 8:14
  I
• 8:14
  think
• 8:14
  it's
• 8:14
  pretty
• 8:15
  standard
• 8:15
  that
• 8:15
  when
• 8:15
  you
• 8:15
  would,
• 8:16
  you
• 8:16
  would
• 8:16
  invest
• 8:17
  in
• 8:17
  any
• 8:17
  kind
• 8:17
  of
• 8:17
  automation
• 8:18
  that
• 8:18
  you're,
• 8:18
  you're
• 8:19
  coming
• 8:19
  back
• 8:19
  and
• 8:19
  you're
• 8:20
  looking
• 8:20
  to
• 8:20
  see
• 8:20
  how
• 8:21
  things
• 8:21
  are
• 8:21
  going.
• 8:21
  What,
• 8:22
  what
• 8:22
  impro.
• 8:22
  What
• 8:23
  processes
• 8:23
  could
• 8:23
  be
• 8:24
  improved
• 8:24
  upon.
• 8:25
  Are
• 8:25
  you
• 8:26
  seeing
• 8:26
  that
• 8:26
  retailers
• 8:27
  are
• 8:27
  actually
• 8:27
  able
• 8:28
  to
• 8:28
  reuse
• 8:29
  pieces
• 8:29
  of
• 8:30
  the
• 8:30
  aut
• 8:31
  it
• 8:31
  that
• 8:31
  flexible
• 8:32
  where
• 8:32
  they're
• 8:32
  able
• 8:32
  to
• 8:33
  kind
• 8:33
  of
• 8:33
  make
• 8:33
  it
• 8:34
  work
• 8:34
  for
• 8:34
  this
• 8:34
  new
• 8:35
  format
• 8:35
  or
• 8:35
  are
• 8:35
  they
• 8:36
  having
• 8:36
  to
• 8:36
  reinvest
• 8:37
  here?
• 8:37
  No,
• 8:38
  no,
• 8:38
  it
• 8:38
  would
• 8:38
  be,
• 8:39
  it
• 8:39
  would
• 8:39
  be.
• 8:39
  They
• 8:39
  keep
• 8:39
  that
• 8:40
  automation
• 8:40
  that
• 8:40
  they
• 8:41
  put.
• 8:41
  Okay,
• 8:42
  they
• 8:42
  have
• 8:42
  to
• 8:42
  do.
• 8:43
  And
• 8:43
  what
• 8:43
  we,
• 8:44
  you
• 8:44
  know,
• 8:44
  we
• 8:45
  do
• 8:45
  routinely
• 8:46
  as
• 8:46
  a
• 8:46
  part
• 8:46
  of
• 8:46
  what
• 8:46
  we
• 8:46
  do
• 8:46
  with
• 8:47
  our
• 8:47
  customers
• 8:47
  is
• 8:47
  look
• 8:47
  at
• 8:48
  the
• 8:48
  end
• 8:48
  to
• 8:48
  end.
• 8:49
  Right.
• 8:50
  Material
• 8:50
  in,
• 8:51
  material
• 8:51
  out.
• 8:51
  Right.
• 8:52
  And
• 8:52
  what
• 8:53
  should
• 8:53
  we
• 8:53
  be
• 8:53
  considering?
• 8:55
  So
• 8:56
  again,
• 8:56
  the,
• 8:57
  I've
• 8:57
  given
• 8:57
  example
• 8:58
  that
• 8:58
  the
• 8:58
  customer
• 8:59
  used
• 8:59
  with
• 8:59
  me
• 8:59
  is
• 8:59
  that
• 9:00
  we
• 9:00
  receive
• 9:00
  pallets
• 9:02
  of
• 9:02
  product
• 9:03
  at
• 9:03
  a
• 9:03
  receiving
• 9:03
  door.
• 9:04
  Right.
• 9:05
  So
• 9:05
  it
• 9:05
  could
• 9:05
  be,
• 9:06
  you
• 9:06
  know,
• 9:06
  all
• 9:06
  one
• 9:06
  pallet
• 9:07
  of
• 9:07
  the
• 9:07
  same
• 9:07
  sku,
• 9:08
  it
• 9:08
  could
• 9:08
  be
• 9:08
  a
• 9:08
  pallet
• 9:09
  of
• 9:09
  multiple
• 9:09
  different
• 9:09
  skus.
• 9:10
  But
• 9:11
  what
• 9:11
  I
• 9:11
  pick
• 9:12
  out
• 9:12
  of
• 9:12
  is
• 9:12
  a
• 9:12
  tote.
• 9:14
  So
• 9:14
  it's
• 9:14
  a
• 9:14
  box
• 9:14
  that
• 9:15
  comes
• 9:15
  in,
• 9:15
  but
• 9:15
  I
• 9:15
  got
• 9:16
  to
• 9:16
  pick
• 9:16
  out
• 9:16
  of
• 9:16
  a
• 9:16
  tote.
• 9:17
  So
• 9:17
  there's
• 9:17
  a
• 9:17
  whole
• 9:18
  process
• 9:18
  that
• 9:18
  wasn't
• 9:19
  thought
• 9:19
  about
• 9:20
  that
• 9:20
  isn't
• 9:21
  really
• 9:21
  very
• 9:21
  fast.
• 9:22
  Right.
• 9:23
  That's
• 9:23
  a
• 9:23
  very
• 9:23
  manual
• 9:24
  labor
• 9:25
  intensive
• 9:26
  mess
• 9:26
  actually.
• 9:27
  So
• 9:27
  we
• 9:27
  can
• 9:28
  walk
• 9:28
  in
• 9:28
  a
• 9:28
  building,
• 9:28
  if
• 9:29
  you
• 9:29
  walk
• 9:29
  by
• 9:29
  a
• 9:29
  receiving
• 9:30
  door
• 9:30
  and
• 9:30
  you
• 9:30
  see
• 9:30
  all
• 9:30
  these
• 9:30
  boxes
• 9:31
  just
• 9:31
  stacked
• 9:31
  up,
• 9:32
  you
• 9:33
  know,
• 9:33
  there's
• 9:33
  probably
• 9:34
  some
• 9:34
  kind
• 9:34
  of,
• 9:34
  there's
• 9:34
  some,
• 9:35
  there's
• 9:35
  a
• 9:35
  problem
• 9:35
  there
• 9:36
  in
• 9:36
  the
• 9:36
  operations.
• 9:37
  And
• 9:38
  so,
• 9:38
  you
• 9:38
  know,
• 9:39
  I
• 9:39
  think
• 9:39
  that
• 9:40
  people
• 9:40
  are
• 9:40
  learning
• 9:42
  more,
• 9:43
  that
• 9:43
  we
• 9:43
  need
• 9:44
  to
• 9:44
  be
• 9:44
  considerate
• 9:44
  of
• 9:45
  the
• 9:45
  what
• 9:46
  comes
• 9:46
  in,
• 9:47
  what's
• 9:48
  handled
• 9:48
  in
• 9:48
  the
• 9:48
  middle
• 9:49
  and
• 9:49
  what
• 9:49
  goes
• 9:49
  out.
• 9:50
  And
• 9:50
  all
• 9:50
  of
• 9:50
  those
• 9:50
  things
• 9:51
  are
• 9:51
  connected
• 9:52
  so
• 9:52
  that
• 9:52
  we're
• 9:52
  looking
• 9:53
  at
• 9:53
  the
• 9:53
  right
• 9:53
  types
• 9:53
  of
• 9:54
  automation.
• 9:54
  We're
• 9:54
  looking
• 9:55
  at
• 9:55
  potentially
• 9:55
  changing
• 9:56
  some
• 9:56
  operations
• 9:57
  that
• 9:57
  might
• 9:57
  need
• 9:57
  to
• 9:57
  be,
• 9:58
  you
• 9:59
  know,
• 9:59
  made
• 9:59
  more
• 10:00
  efficient
• 10:00
  except
• 10:01
  et
• 10:01
  cetera.
• 10:01
  So
• 10:02
  you
• 10:02
  can
• 10:02
  come
• 10:02
  in
• 10:03
  and
• 10:03
  do
• 10:03
  an
• 10:03
  audit
• 10:03
  of
• 10:03
  a
• 10:04
  building.
• 10:04
  Even
• 10:04
  with
• 10:04
  existing
• 10:05
  customers
• 10:05
  that
• 10:05
  have
• 10:05
  had,
• 10:06
  you
• 10:06
  know,
• 10:07
  automation
• 10:07
  up
• 10:07
  for
• 10:07
  a
• 10:08
  while,
• 10:08
  an
• 10:09
  audit
• 10:09
  can
• 10:09
  come
• 10:10
  in
• 10:10
  and
• 10:10
  show
• 10:10
  where
• 10:10
  you've
• 10:11
  got
• 10:11
  Opportunities
• 10:12
  to
• 10:13
  change
• 10:13
  processes,
• 10:14
  make
• 10:14
  things
• 10:14
  more
• 10:15
  efficient.
• 10:15
  We
• 10:16
  can
• 10:16
  do
• 10:16
  audits
• 10:16
  on
• 10:17
  equipment
• 10:17
  to
• 10:17
  see
• 10:18
  that
• 10:18
  it's,
• 10:18
  you
• 10:19
  know,
• 10:19
  is
• 10:19
  there
• 10:19
  a
• 10:19
  problem
• 10:20
  that's
• 10:20
  causing
• 10:20
  this
• 10:20
  log
• 10:21
  jam
• 10:21
  somewhere
• 10:21
  that
• 10:21
  we
• 10:22
  might
• 10:22
  be
• 10:22
  able
• 10:22
  to,
• 10:22
  you
• 10:22
  know,
• 10:23
  to
• 10:23
  fix?
• 10:24
  So
• 10:24
  I
• 10:24
  think
• 10:24
  people
• 10:25
  right
• 10:25
  now
• 10:25
  are
• 10:25
  just
• 10:26
  taking
• 10:26
  what
• 10:27
  they
• 10:27
  have
• 10:28
  and
• 10:30
  making
• 10:30
  it
• 10:31
  work
• 10:31
  better.
• 10:32
  Like
• 10:32
  sweat.
• 10:33
  There's
• 10:33
  a
• 10:33
  real
• 10:33
  focus
• 10:34
  on
• 10:34
  sweating
• 10:34
  their
• 10:35
  assets.
• 10:36
  So
• 10:37
  I,
• 10:38
  I,
• 10:38
  I've
• 10:38
  not
• 10:38
  heard
• 10:39
  that
• 10:39
  term
• 10:39
  before.
• 10:39
  What
• 10:40
  does
• 10:40
  sweating
• 10:40
  the
• 10:40
  assets
• 10:41
  mean?
• 10:41
  I
• 10:42
  thought
• 10:42
  it's
• 10:42
  overused
• 10:42
  and
• 10:43
  cliche.
• 10:43
  I
• 10:44
  hope
• 10:44
  not.
• 10:44
  So
• 10:45
  it
• 10:45
  could
• 10:45
  be,
• 10:46
  it
• 10:46
  could
• 10:46
  be.
• 10:47
  It's
• 10:47
  new
• 10:47
  to
• 10:47
  me
• 10:47
  though,
• 10:48
  Kim.
• 10:48
  So
• 10:48
  I
• 10:48
  imagine
• 10:49
  if
• 10:49
  it's
• 10:49
  new
• 10:49
  to
• 10:49
  me,
• 10:49
  there
• 10:50
  may
• 10:50
  be
• 10:50
  one
• 10:50
  more
• 10:51
  person
• 10:51
  that's
• 10:51
  listening
• 10:52
  that
• 10:52
  doesn't
• 10:52
  know
• 10:53
  that
• 10:53
  I
• 10:54
  could
• 10:54
  be
• 10:54
  wrong
• 10:55
  though.
• 10:55
  No,
• 10:55
  no.
• 10:56
  So
• 10:56
  it's,
• 10:56
  it's,
• 10:57
  it's
• 10:57
  basically
• 10:58
  I've
• 10:58
  got,
• 10:58
  I
• 10:58
  made
• 10:59
  an
• 10:59
  investment,
• 10:59
  I
• 11:00
  have
• 11:00
  these
• 11:00
  buildings
• 11:00
  out
• 11:01
  there,
• 11:01
  I'm
• 11:01
  not
• 11:01
  going
• 11:01
  to
• 11:02
  be
• 11:02
  able
• 11:02
  to
• 11:02
  put
• 11:02
  up
• 11:02
  new
• 11:02
  buildings
• 11:03
  and
• 11:03
  I'm
• 11:03
  probably
• 11:03
  not
• 11:03
  going
• 11:03
  to
• 11:04
  get
• 11:04
  approval
• 11:04
  to
• 11:04
  do
• 11:05
  a
• 11:05
  large
• 11:05
  automation
• 11:06
  project.
• 11:07
  So
• 11:07
  I've
• 11:07
  got
• 11:07
  to
• 11:07
  look
• 11:07
  at
• 11:08
  what
• 11:08
  I
• 11:08
  do
• 11:08
  have
• 11:09
  and
• 11:09
  make
• 11:09
  it
• 11:09
  run
• 11:11
  better,
• 11:12
  run
• 11:12
  more
• 11:12
  efficiently.
• 11:13
  I've
• 11:13
  got
• 11:13
  to
• 11:13
  look
• 11:13
  at
• 11:13
  the
• 11:13
  processes,
• 11:14
  which
• 11:14
  includes,
• 11:15
  you
• 11:15
  know,
• 11:15
  the
• 11:15
  people,
• 11:16
  the
• 11:16
  automation,
• 11:17
  the
• 11:17
  whole
• 11:17
  thing,
• 11:18
  make
• 11:18
  sure
• 11:18
  those
• 11:18
  are
• 11:19
  running
• 11:19
  effectively.
• 11:21
  And
• 11:21
  then
• 11:21
  even,
• 11:22
  you
• 11:22
  know,
• 11:24
  we
• 11:25
  do,
• 11:25
  from
• 11:26
  a
• 11:26
  customer's
• 11:27
  service
• 11:27
  and
• 11:28
  life
• 11:28
  cycle
• 11:29
  support,
• 11:29
  we
• 11:29
  come
• 11:30
  in
• 11:30
  and
• 11:30
  look
• 11:30
  at
• 11:30
  again,
• 11:30
  the
• 11:31
  equipment.
• 11:31
  Is
• 11:31
  it,
• 11:32
  are
• 11:32
  we
• 11:33
  having
• 11:33
  Mrs.
• 11:34
  On
• 11:34
  a
• 11:34
  photo
• 11:34
  eye
• 11:35
  and
• 11:35
  things
• 11:35
  are,
• 11:36
  you
• 11:36
  know,
• 11:36
  not
• 11:36
  getting
• 11:36
  diverted
• 11:37
  the
• 11:37
  way
• 11:37
  they
• 11:37
  are
• 11:37
  in
• 11:37
  a
• 11:38
  conveyor
• 11:38
  system?
• 11:39
  Are
• 11:39
  we,
• 11:40
  you
• 11:41
  know,
• 11:41
  we
• 11:41
  even
• 11:41
  do
• 11:41
  like
• 11:42
  audits
• 11:42
  on
• 11:42
  lights
• 11:43
  and
• 11:43
  things
• 11:43
  like
• 11:43
  that
• 11:43
  to
• 11:43
  make,
• 11:44
  we
• 11:44
  can
• 11:44
  start
• 11:44
  looking
• 11:45
  at
• 11:45
  energy
• 11:45
  efficiency.
• 11:46
  So,
• 11:47
  you
• 11:47
  know,
• 11:47
  there's
• 11:47
  lots
• 11:47
  of
• 11:47
  things
• 11:47
  that
• 11:48
  you
• 11:48
  can
• 11:48
  do
• 11:49
  that
• 11:49
  don't
• 11:49
  involve
• 11:50
  a
• 11:50
  capex
• 11:51
  expenditure
• 11:52
  to
• 11:52
  make
• 11:53
  your
• 11:53
  systems
• 11:53
  run
• 11:54
  more
• 11:54
  smoothly.
• 11:55
  And
• 11:55
  I
• 11:55
  think
• 11:55
  that's
• 11:55
  kind
• 11:56
  of
• 11:56
  what
• 11:56
  people
• 11:56
  are
• 11:56
  focusing
• 11:57
  on
• 11:57
  right
• 11:57
  now.
• 11:57
  It's
• 11:57
  not
• 11:58
  saying
• 11:58
  they're
• 11:58
  not
• 11:58
  doing
• 11:59
  any
• 12:00
  automation,
• 12:01
  they're
• 12:01
  just
• 12:02
  kind
• 12:02
  of
• 12:02
  keeping
• 12:02
  steady.
• 12:03
  We're
• 12:03
  not
• 12:03
  seeing
• 12:04
  this
• 12:04
  huge
• 12:04
  peak
• 12:05
  that
• 12:05
  we
• 12:05
  did
• 12:06
  in
• 12:07
  21,
• 12:07
  22.
• 12:09
  Got
• 12:09
  it.
• 12:09
  So
• 12:09
  they're
• 12:10
  sweating
• 12:10
  their
• 12:10
  assets
• 12:10
  off.
• 12:11
  It
• 12:11
  sounds
• 12:11
  like
• 12:11
  a
• 12:11
  new
• 12:12
  Richard
• 12:12
  Simmons
• 12:12
  workout
• 12:13
  video.
• 12:13
  You
• 12:13
  know,
• 12:14
  I'd
• 12:15
  rest
• 12:16
  his
• 12:16
  soul.
• 12:16
  But
• 12:16
  yeah,
• 12:16
  it
• 12:17
  sounds
• 12:17
  like
• 12:17
  that's
• 12:17
  what
• 12:17
  they're
• 12:17
  doing.
• 12:18
  But,
• 12:18
  so,
• 12:19
  but
• 12:19
  Kim,
• 12:19
  what
• 12:19
  I
• 12:19
  take
• 12:19
  away
• 12:20
  from
• 12:20
  you
• 12:20
  is
• 12:20
  there's,
• 12:21
  there's
• 12:21
  two
• 12:21
  reasons
• 12:22
  for
• 12:22
  that
• 12:22
  approach
• 12:22
  and
• 12:23
  it's
• 12:23
  all
• 12:23
  because
• 12:23
  of
• 12:23
  the
• 12:23
  capital
• 12:24
  constraints
• 12:24
  that
• 12:24
  we're
• 12:25
  seeing
• 12:25
  right
• 12:25
  now.
• 12:25
  So
• 12:26
  one
• 12:26
  is,
• 12:27
  one
• 12:27
  is,
• 12:29
  and
• 12:30
  uncertainty.
• 12:31
  And
• 12:31
  uncertainty.
• 12:32
  Right.
• 12:32
  Capital
• 12:32
  constraint
• 12:33
  combined
• 12:33
  with
• 12:34
  uncertainty.
• 12:34
  Yep,
• 12:35
  yep.
• 12:35
  And,
• 12:36
  and
• 12:37
  the
• 12:37
  reasons
• 12:37
  for
• 12:37
  that
• 12:37
  are
• 12:37
  that,
• 12:39
  you
• 12:39
  know,
• 12:39
  in
• 12:39
  the
• 12:39
  first
• 12:39
  instance
• 12:40
  you
• 12:40
  said
• 12:40
  like
• 12:41
  the
• 12:41
  pandemic
• 12:41
  people
• 12:41
  rushed
• 12:42
  into
• 12:42
  it
• 12:42
  and
• 12:42
  they
• 12:42
  deployed
• 12:43
  systems
• 12:43
  where
• 12:44
  they
• 12:44
  are
• 12:44
  kind
• 12:44
  of
• 12:45
  still
• 12:45
  working
• 12:45
  through
• 12:45
  the
• 12:45
  tilts
• 12:46
  on
• 12:46
  it
• 12:46
  and
• 12:46
  they
• 12:46
  have
• 12:47
  to
• 12:47
  get
• 12:47
  those
• 12:47
  tilts
• 12:47
  figured
• 12:48
  out
• 12:48
  to
• 12:48
  keep
• 12:48
  their
• 12:48
  operations
• 12:49
  running
• 12:49
  smoothly.
• 12:50
  And
• 12:50
  then
• 12:50
  the
• 12:51
  second
• 12:51
  piece
• 12:51
  is
• 12:51
  just
• 12:52
  the
• 12:52
  fact
• 12:52
  that
• 12:52
  you
• 12:53
  know,
• 12:53
  you've
• 12:53
  got
• 12:53
  to
• 12:53
  reinvest
• 12:54
  in
• 12:54
  the
• 12:54
  buildings
• 12:54
  because
• 12:54
  the
• 12:54
  buildings
• 12:55
  are
• 12:55
  getting
• 12:55
  older
• 12:55
  and
• 12:56
  you've
• 12:56
  got
• 12:56
  to
• 12:56
  keep
• 12:56
  them
• 12:56
  up
• 12:57
  to
• 12:57
  speed
• 12:57
  and.
• 12:58
  Right.
• 12:58
  You
• 12:58
  know,
• 12:58
  as,
• 12:59
  as,
• 13:00
  as
• 13:00
  working
• 13:00
  as
• 13:01
  pot
• 13:01
  as
• 13:01
  well
• 13:01
  as
• 13:01
  they
• 13:01
  possibly
• 13:02
  can.
• 13:02
  But
• 13:02
  I'm
• 13:02
  curious
• 13:03
  like
• 13:03
  with
• 13:04
  that
• 13:04
  we
• 13:04
  always
• 13:04
  talk
• 13:04
  on
• 13:04
  our
• 13:05
  show
• 13:05
  like
• 13:05
  with
• 13:05
  every
• 13:06
  business
• 13:06
  decision
• 13:06
  there's
• 13:07
  also
• 13:07
  a
• 13:07
  cost.
• 13:08
  So
• 13:08
  what
• 13:08
  are
• 13:09
  some
• 13:09
  of
• 13:09
  the.
• 13:09
  If,
• 13:10
  if
• 13:10
  that's
• 13:10
  what
• 13:10
  the
• 13:10
  industry
• 13:11
  is
• 13:11
  doing
• 13:11
  in
• 13:11
  mass
• 13:12
  sweating
• 13:12
  their
• 13:13
  assets,
• 13:14
  what
• 13:14
  are
• 13:14
  the
• 13:14
  costs
• 13:15
  or
• 13:15
  watch
• 13:15
  outs
• 13:15
  to
• 13:16
  that
• 13:16
  approach?
• 13:16
  Like
• 13:16
  I
• 13:16
  mean
• 13:17
  I
• 13:17
  imagine
• 13:17
  some
• 13:17
  of
• 13:17
  these
• 13:18
  buildings
• 13:18
  are
• 13:18
  getting
• 13:19
  quite
• 13:19
  old
• 13:19
  too.
• 13:20
  So
• 13:20
  can,
• 13:20
  can
• 13:21
  that
• 13:21
  approach
• 13:21
  last?
• 13:24
  It
• 13:24
  can
• 13:25
  last
• 13:25
  to
• 13:25
  a
• 13:25
  certain
• 13:26
  extent.
• 13:26
  So
• 13:27
  you
• 13:27
  know,
• 13:27
  we've
• 13:27
  seen
• 13:28
  customers.
• 13:28
  I
• 13:28
  know
• 13:29
  maybe
• 13:29
  it's
• 13:29
  actually
• 13:30
  there's
• 13:30
  a
• 13:30
  little
• 13:30
  bit
• 13:30
  of
• 13:31
  good
• 13:31
  in
• 13:31
  this
• 13:31
  too.
• 13:32
  Beyond
• 13:32
  the
• 13:32
  fact
• 13:33
  that
• 13:33
  there
• 13:33
  could
• 13:33
  be.
• 13:34
  We'Re
• 13:34
  going
• 13:34
  to
• 13:34
  be
• 13:34
  smarter
• 13:34
  about
• 13:35
  making
• 13:35
  decisions.
• 13:36
  But
• 13:37
  I
• 13:37
  look
• 13:37
  at
• 13:38
  things
• 13:38
  like,
• 13:38
  you
• 13:38
  know,
• 13:39
  maybe
• 13:39
  we're
• 13:39
  getting
• 13:39
  a
• 13:39
  little
• 13:41
  positive
• 13:42
  tick
• 13:42
  on
• 13:42
  the
• 13:43
  sustainability
• 13:44
  from
• 13:44
  a
• 13:44
  sustainability
• 13:45
  perspective,
• 13:45
  which
• 13:46
  is
• 13:46
  kind
• 13:46
  of
• 13:46
  weird.
• 13:47
  But
• 13:47
  I'm
• 13:48
  going
• 13:48
  to
• 13:48
  use
• 13:48
  an
• 13:48
  example
• 13:48
  of
• 13:49
  another
• 13:49
  customer
• 13:49
  who
• 13:49
  has
• 13:50
  a
• 13:50
  very,
• 13:51
  have
• 13:51
  very
• 13:51
  large
• 13:51
  regional
• 13:52
  distribution
• 13:52
  centers
• 13:54
  and
• 13:55
  they
• 13:55
  have
• 13:55
  decided
• 13:56
  rather
• 13:56
  than
• 13:56
  building
• 13:57
  new,
• 13:57
  you
• 13:57
  know,
• 13:58
  100,000
• 13:58
  square
• 13:59
  feet
• 13:59
  or,
• 13:59
  or
• 14:00
  something
• 14:00
  like
• 14:00
  that
• 14:01
  e
• 14:01
  commerce
• 14:01
  DCs
• 14:02
  that
• 14:03
  they
• 14:03
  would
• 14:03
  find
• 14:03
  that
• 14:04
  space
• 14:04
  in
• 14:04
  an
• 14:04
  existing
• 14:05
  large
• 14:06
  half
• 14:06
  a
• 14:06
  million
• 14:06
  or
• 14:06
  million
• 14:07
  square
• 14:07
  foot
• 14:07
  regional
• 14:07
  distribution
• 14:08
  center
• 14:09
  to
• 14:09
  do
• 14:09
  their
• 14:09
  E
• 14:09
  commerce
• 14:10
  fulfillment
• 14:10
  out
• 14:10
  of.
• 14:11
  So
• 14:12
  you
• 14:13
  know,
• 14:13
  as
• 14:13
  much
• 14:13
  as
• 14:13
  I
• 14:14
  like
• 14:14
  people
• 14:14
  to
• 14:14
  build
• 14:15
  new
• 14:15
  buildings,
• 14:16
  you
• 14:16
  know,
• 14:16
  they're
• 14:17
  making
• 14:17
  do
• 14:18
  with
• 14:18
  the
• 14:18
  building
• 14:19
  that
• 14:19
  they
• 14:19
  already
• 14:19
  have
• 14:20
  and
• 14:20
  they're
• 14:20
  using
• 14:21
  the
• 14:21
  space
• 14:21
  more
• 14:21
  efficiently.
• 14:23
  So
• 14:23
  I
• 14:24
  mean
• 14:24
  that's
• 14:24
  an
• 14:24
  example
• 14:24
  of
• 14:25
  some
• 14:25
  of
• 14:25
  the
• 14:25
  things,
• 14:25
  you
• 14:25
  know,
• 14:26
  that
• 14:26
  the
• 14:26
  customer
• 14:26
  I'm
• 14:26
  seeing
• 14:27
  customers
• 14:28
  do.
• 14:29
  I
• 14:30
  think,
• 14:30
  you
• 14:30
  know,
• 14:30
  there'll
• 14:30
  be
• 14:31
  a
• 14:31
  time
• 14:31
  at
• 14:32
  which
• 14:32
  that,
• 14:32
  that
• 14:33
  building
• 14:33
  for
• 14:33
  example,
• 14:34
  there
• 14:34
  is
• 14:34
  no
• 14:34
  more
• 14:35
  space.
• 14:35
  Right.
• 14:35
  So
• 14:35
  you
• 14:35
  cannot
• 14:36
  take
• 14:36
  in
• 14:36
  any
• 14:37
  more
• 14:37
  SKUs
• 14:37
  to
• 14:37
  store
• 14:38
  and
• 14:38
  you
• 14:38
  can't
• 14:38
  take
• 14:38
  any
• 14:39
  more
• 14:39
  volume
• 14:39
  to
• 14:40
  ship.
• 14:42
  And
• 14:42
  so
• 14:42
  that
• 14:42
  will
• 14:43
  turn.
• 14:43
  And
• 14:43
  I
• 14:43
  think
• 14:44
  that
• 14:44
  you
• 14:44
  know,
• 14:46
  the
• 14:46
  people
• 14:46
  that
• 14:47
  we
• 14:47
  get
• 14:47
  reports
• 14:48
  from
• 14:48
  are
• 14:48
  saying
• 14:49
  we'll
• 14:49
  see
• 14:49
  an
• 14:49
  upturn
• 14:50
  in
• 14:50
  2026.
• 14:51
  We
• 14:52
  heard
• 14:52
  that
• 14:52
  about
• 14:52
  2025.
• 14:55
  So
• 14:55
  you're
• 14:55
  skeptical.
• 14:56
  I'm
• 14:57
  a
• 14:57
  little
• 14:57
  skeptical.
• 14:57
  I
• 14:58
  just
• 14:58
  think
• 14:58
  again,
• 14:59
  I
• 14:59
  think
• 14:59
  there
• 14:59
  is
• 14:59
  a
• 15:00
  ton
• 15:00
  of
• 15:01
  volatility
• 15:01
  and
• 15:02
  uncertainty
• 15:02
  Right
• 15:02
  now
• 15:03
  that
• 15:03
  is
• 15:03
  causing,
• 15:03
  it's
• 15:04
  going
• 15:04
  to
• 15:04
  cause
• 15:04
  another
• 15:05
  pullback,
• 15:05
  I
• 15:05
  think.
• 15:06
  But
• 15:07
  at
• 15:07
  some
• 15:08
  point
• 15:08
  people
• 15:08
  have
• 15:08
  to,
• 15:10
  they're
• 15:10
  going
• 15:10
  to
• 15:10
  have
• 15:11
  to
• 15:11
  hit
• 15:11
  the
• 15:11
  volumes
• 15:13
  that
• 15:13
  they
• 15:13
  need
• 15:14
  to
• 15:14
  either
• 15:14
  ship
• 15:14
  to
• 15:14
  their
• 15:14
  stores
• 15:15
  or
• 15:15
  to
• 15:15
  their
• 15:15
  customers.
• 15:16
  They're
• 15:17
  going
• 15:17
  to
• 15:17
  have
• 15:17
  to
• 15:17
  build.
• 15:17
  But
• 15:18
  again,
• 15:18
  I
• 15:18
  think,
• 15:18
  I
• 15:18
  think
• 15:19
  we
• 15:19
  talked
• 15:19
  about
• 15:20
  this
• 15:20
  a
• 15:20
  long
• 15:21
  time
• 15:21
  ago
• 15:21
  when
• 15:22
  we
• 15:22
  talked
• 15:22
  about
• 15:22
  close
• 15:22
  to
• 15:23
  consumer.
• 15:25
  We
• 15:26
  are
• 15:26
  definitely
• 15:26
  seeing
• 15:27
  the
• 15:28
  retailers
• 15:28
  talking
• 15:29
  about
• 15:29
  building
• 15:29
  these
• 15:30
  smaller
• 15:31
  buildings
• 15:31
  that
• 15:32
  use
• 15:34
  somewhat
• 15:34
  automated
• 15:35
  solutions,
• 15:36
  but
• 15:36
  also
• 15:37
  more
• 15:37
  flexible
• 15:38
  solutions.
• 15:38
  So
• 15:38
  AMRs
• 15:41
  that
• 15:42
  can
• 15:42
  fit
• 15:42
  in
• 15:42
  a
• 15:43
  place
• 15:43
  where
• 15:44
  you're
• 15:44
  not
• 15:44
  certain
• 15:45
  how,
• 15:46
  you
• 15:46
  know
• 15:46
  how
• 15:46
  the
• 15:47
  fulfillment's
• 15:47
  going
• 15:48
  to
• 15:48
  work
• 15:48
  out.
• 15:48
  You
• 15:48
  want
• 15:48
  to
• 15:49
  test
• 15:49
  it,
• 15:50
  stand
• 15:50
  up
• 15:50
  a
• 15:50
  building,
• 15:51
  but
• 15:51
  you
• 15:51
  don't
• 15:51
  want
• 15:52
  to
• 15:52
  bolt
• 15:52
  things
• 15:52
  to
• 15:52
  the
• 15:52
  ground.
• 15:53
  So
• 15:54
  we're
• 15:55
  seeing
• 15:55
  people
• 15:55
  do
• 15:55
  that.
• 15:56
  But
• 15:56
  also
• 15:56
  even
• 15:57
  in
• 15:58
  existing
• 15:58
  buildings
• 15:59
  that
• 15:59
  have
• 15:59
  a
• 15:59
  lot
• 15:59
  of
• 15:59
  forklift
• 16:00
  trucks,
• 16:00
  for
• 16:00
  instance,
• 16:02
  they're
• 16:02
  looking
• 16:02
  at
• 16:03
  automated
• 16:03
  guided
• 16:04
  vehicles
• 16:04
  to
• 16:05
  take
• 16:05
  the
• 16:05
  place
• 16:05
  where
• 16:06
  they
• 16:06
  can't
• 16:06
  get
• 16:06
  people
• 16:07
  to
• 16:07
  drive
• 16:07
  a
• 16:07
  forklift
• 16:08
  truck.
• 16:09
  So,
• 16:10
  you
• 16:10
  know,
• 16:10
  there's
• 16:10
  just
• 16:11
  little
• 16:12
  inching
• 16:13
  forward
• 16:13
  of
• 16:14
  improvements.
• 16:15
  And
• 16:15
  I
• 16:15
  just
• 16:16
  think
• 16:16
  that
• 16:16
  we're
• 16:16
  going
• 16:16
  to
• 16:16
  continue
• 16:16
  to
• 16:17
  see
• 16:17
  that
• 16:17
  for
• 16:17
  at
• 16:17
  least
• 16:17
  another
• 16:18
  year.
• 16:19
  So
• 16:19
  it's
• 16:19
  really
• 16:19
  important
• 16:20
  to
• 16:20
  think
• 16:20
  about,
• 16:21
  you
• 16:21
  know,
• 16:21
  who
• 16:21
  do
• 16:21
  I
• 16:21
  pull
• 16:22
  and
• 16:22
  I
• 16:22
  get
• 16:22
  a
• 16:22
  little
• 16:22
  plug
• 16:23
  for
• 16:23
  my
• 16:23
  company.
• 16:23
  Who
• 16:24
  do
• 16:24
  I
• 16:24
  pull
• 16:24
  in
• 16:25
  to
• 16:26
  talk
• 16:26
  about?
• 16:27
  You
• 16:27
  know,
• 16:28
  we
• 16:28
  have
• 16:28
  a,
• 16:29
  to
• 16:29
  talk
• 16:29
  about,
• 16:29
  first
• 16:29
  of
• 16:29
  all,
• 16:30
  an
• 16:30
  audit
• 16:30
  of
• 16:31
  the
• 16:31
  operations.
• 16:31
  What
• 16:32
  can
• 16:32
  I
• 16:32
  be
• 16:32
  doing
• 16:32
  differently
• 16:33
  from
• 16:34
  receiving
• 16:34
  to
• 16:34
  shipping
• 16:35
  that
• 16:35
  might
• 16:35
  improve
• 16:36
  what
• 16:36
  we're
• 16:36
  doing?
• 16:37
  And
• 16:37
  also
• 16:37
  after
• 16:38
  the
• 16:38
  fact,
• 16:38
  once
• 16:38
  I've
• 16:38
  got
• 16:39
  something
• 16:39
  installed,
• 16:39
  are
• 16:40
  my
• 16:40
  people,
• 16:40
  people
• 16:40
  properly
• 16:41
  trained
• 16:42
  to
• 16:42
  know
• 16:43
  how
• 16:43
  to
• 16:43
  use
• 16:43
  equipment,
• 16:44
  to
• 16:44
  get
• 16:44
  as
• 16:44
  much
• 16:45
  out
• 16:45
  of
• 16:45
  it
• 16:45
  as
• 16:46
  it
• 16:46
  as
• 16:46
  you
• 16:46
  can.
• 16:47
  So,
• 16:48
  you
• 16:48
  know,
• 16:48
  there's
• 16:48
  operational
• 16:49
  training
• 16:49
  that
• 16:49
  can
• 16:50
  happen
• 16:50
  after
• 16:50
  you
• 16:50
  buy
• 16:50
  something
• 16:51
  that's
• 16:51
  really
• 16:51
  important
• 16:51
  to
• 16:52
  think
• 16:52
  about.
• 16:53
  And
• 16:53
  then
• 16:54
  also
• 16:54
  looking
• 16:54
  at
• 16:54
  the
• 16:54
  full.
• 16:55
  I've
• 16:55
  talked
• 16:55
  about
• 16:56
  this,
• 16:56
  I
• 16:56
  think
• 16:56
  every
• 16:56
  time
• 16:56
  I
• 16:57
  talk
• 16:57
  to
• 16:57
  you
• 16:57
  guys,
• 16:57
  but
• 16:57
  it's,
• 16:58
  it's
• 16:58
  about
• 16:58
  looking
• 16:59
  at
• 16:59
  your
• 16:59
  full
• 16:59
  network,
• 17:00
  including
• 17:00
  your
• 17:00
  stores.
• 17:01
  Right.
• 17:02
  Where
• 17:02
  are
• 17:03
  you
• 17:03
  going
• 17:03
  to
• 17:03
  get?
• 17:05
  Do
• 17:05
  you.
• 17:05
  You
• 17:06
  know,
• 17:06
  there's
• 17:06
  a
• 17:06
  lot
• 17:06
  of
• 17:06
  companies
• 17:07
  that
• 17:07
  are
• 17:07
  filling
• 17:07
  E
• 17:08
  Commerce
• 17:08
  orders
• 17:08
  out
• 17:08
  of
• 17:08
  their
• 17:09
  stores,
• 17:09
  which
• 17:09
  is
• 17:09
  also
• 17:10
  potentially
• 17:11
  part
• 17:11
  of
• 17:11
  the
• 17:11
  reason
• 17:11
  why
• 17:12
  we're
• 17:12
  not
• 17:12
  seeing
• 17:12
  E
• 17:13
  Commerce
• 17:13
  buildings
• 17:14
  being
• 17:14
  stood
• 17:14
  up.
• 17:15
  So,
• 17:16
  you
• 17:16
  know,
• 17:16
  it's,
• 17:16
  it's,
• 17:16
  it's,
• 17:17
  it's,
• 17:17
  it's
• 17:17
  all
• 17:17
  this
• 17:18
  stuff
• 17:18
  combined.
• 17:18
  It's
• 17:19
  the
• 17:19
  interest
• 17:19
  rates,
• 17:20
  the
• 17:20
  uncertainty
• 17:21
  and
• 17:21
  the
• 17:22
  fact
• 17:22
  that
• 17:22
  people
• 17:22
  are
• 17:22
  just
• 17:23
  trying
• 17:23
  new
• 17:23
  things
• 17:24
  to,
• 17:24
  you
• 17:25
  know,
• 17:25
  delight
• 17:25
  their
• 17:25
  customers,
• 17:26
  basically.
• 17:26
  And
• 17:27
  it
• 17:27
  could
• 17:27
  be
• 17:27
  I'm
• 17:28
  using
• 17:28
  my
• 17:28
  store
• 17:28
  to
• 17:28
  do
• 17:29
  all
• 17:29
  my
• 17:29
  E
• 17:29
  Commerce
• 17:29
  fulfillment.
• 17:31
  Kim,
• 17:32
  the
• 17:32
  other
• 17:32
  interesting
• 17:32
  aspect
• 17:33
  that
• 17:33
  I
• 17:33
  was
• 17:33
  like
• 17:34
  Talking
• 17:34
  to
• 17:34
  you
• 17:35
  about
• 17:35
  when
• 17:35
  we
• 17:35
  have
• 17:35
  you
• 17:35
  on
• 17:36
  is,
• 17:37
  you
• 17:37
  know,
• 17:37
  if
• 17:38
  the
• 17:38
  retailers
• 17:38
  are
• 17:38
  taking
• 17:39
  the
• 17:39
  sweat,
• 17:39
  sweat
• 17:40
  the
• 17:40
  assets
• 17:40
  approach,
• 17:41
  you
• 17:42
  know,
• 17:42
  the
• 17:42
  automation
• 17:43
  hardware
• 17:43
  side
• 17:44
  is
• 17:44
  one
• 17:44
  thing,
• 17:44
  but,
• 17:45
  but
• 17:45
  software
• 17:46
  also
• 17:46
  comes
• 17:46
  into
• 17:46
  play
• 17:47
  in
• 17:47
  that
• 17:48
  equation
• 17:48
  too.
• 17:49
  And
• 17:49
  so
• 17:49
  with
• 17:50
  the
• 17:50
  rise
• 17:50
  of
• 17:50
  AI
• 17:51
  and
• 17:51
  ML,
• 17:52
  you
• 17:53
  know,
• 17:53
  what's
• 17:53
  your
• 17:53
  take
• 17:54
  on
• 17:54
  that
• 17:54
  in
• 17:54
  terms
• 17:55
  of
• 17:55
  the
• 17:55
  investments
• 17:56
  we'll
• 17:56
  see,
• 17:56
  you
• 17:56
  know,
• 17:57
  in
• 17:57
  the
• 17:57
  software
• 17:58
  side,
• 17:59
  you
• 17:59
  know,
• 17:59
  will
• 18:00
  we
• 18:00
  see
• 18:00
  that
• 18:01
  and
• 18:01
  in
• 18:01
  what
• 18:01
  way
• 18:01
  and
• 18:02
  what,
• 18:02
  what
• 18:02
  will
• 18:02
  people
• 18:03
  be
• 18:03
  focused
• 18:03
  on
• 18:03
  using
• 18:04
  it
• 18:04
  to
• 18:04
  do?
• 18:05
  Yeah,
• 18:06
  absolutely.
• 18:07
  It's.
• 18:07
  The
• 18:07
  software
• 18:08
  is
• 18:08
  probably
• 18:08
  going
• 18:08
  to
• 18:09
  be
• 18:09
  the
• 18:09
  biggest
• 18:09
  areas
• 18:10
  of
• 18:10
  investment
• 18:10
  I
• 18:10
  think,
• 18:10
  over
• 18:11
  the
• 18:11
  next
• 18:11
  couple
• 18:11
  years.
• 18:12
  So
• 18:13
  again,
• 18:13
  there's,
• 18:14
  so
• 18:14
  you
• 18:14
  can
• 18:15
  look
• 18:15
  at
• 18:15
  what
• 18:15
  we
• 18:15
  call
• 18:16
  a
• 18:16
  control
• 18:16
  tower,
• 18:17
  which
• 18:18
  measures
• 18:18
  the
• 18:18
  health
• 18:18
  of
• 18:19
  your
• 18:19
  equipment.
• 18:20
  It
• 18:20
  can
• 18:21
  tell
• 18:21
  you,
• 18:22
  it
• 18:23
  can
• 18:23
  monitor
• 18:23
  anything
• 18:23
  you,
• 18:24
  you
• 18:24
  really
• 18:24
  want
• 18:24
  it
• 18:25
  to
• 18:25
  do.
• 18:25
  So
• 18:26
  how
• 18:26
  are
• 18:26
  my,
• 18:26
  how's
• 18:27
  my
• 18:27
  automation
• 18:27
  working?
• 18:28
  Also
• 18:28
  I
• 18:28
  can
• 18:28
  tell
• 18:29
  you,
• 18:31
  you
• 18:31
  know,
• 18:32
  how
• 18:32
  many
• 18:32
  trucks
• 18:33
  or
• 18:33
  how
• 18:33
  many
• 18:33
  tires
• 18:34
  should
• 18:34
  I
• 18:34
  have
• 18:34
  in
• 18:34
  reserve
• 18:35
  for
• 18:36
  my,
• 18:36
  my
• 18:36
  fleet?
• 18:37
  Because
• 18:37
  you
• 18:37
  tend
• 18:37
  to
• 18:38
  go
• 18:38
  through
• 18:38
  tires
• 18:39
  so
• 18:39
  long.
• 18:39
  So
• 18:39
  there's,
• 18:40
  there's
• 18:40
  things
• 18:40
  like
• 18:40
  that
• 18:40
  that
• 18:41
  are
• 18:41
  getting
• 18:41
  a
• 18:42
  lot
• 18:42
  of
• 18:42
  attention
• 18:42
  right
• 18:43
  now
• 18:43
  again,
• 18:43
  about
• 18:44
  making
• 18:44
  things
• 18:44
  more
• 18:44
  efficient.
• 18:45
  With
• 18:45
  what
• 18:45
  I
• 18:45
  have,
• 18:46
  maybe
• 18:46
  that's
• 18:47
  what's
• 18:47
  happening.
• 18:47
  It's
• 18:47
  kind
• 18:47
  of
• 18:47
  like
• 18:48
  a
• 18:48
  pause
• 18:49
  to,
• 18:50
  to
• 18:50
  take
• 18:50
  a
• 18:50
  breath
• 18:51
  and
• 18:51
  say,
• 18:51
  hmm,
• 18:52
  you
• 18:53
  know,
• 18:53
  I've
• 18:53
  done
• 18:53
  all
• 18:53
  these
• 18:54
  things
• 18:54
  now,
• 18:54
  I
• 18:55
  can't
• 18:55
  right
• 18:55
  now,
• 18:55
  but
• 18:56
  what
• 18:56
  else
• 18:56
  could
• 18:56
  I
• 18:56
  do
• 18:56
  to
• 18:57
  make
• 18:57
  things
• 18:57
  better?
• 18:57
  So
• 18:57
  software
• 18:58
  is
• 18:58
  going
• 18:58
  to
• 18:58
  be
• 18:58
  a
• 18:58
  big
• 18:58
  part.
• 18:59
  So
• 18:59
  the
• 18:59
  control
• 19:00
  tower
• 19:00
  aspect,
• 19:02
  you
• 19:02
  know,
• 19:02
  looking
• 19:03
  at
• 19:04
  AI
• 19:04
  and
• 19:05
  machine
• 19:05
  learning
• 19:05
  to
• 19:06
  say,
• 19:07
  first
• 19:07
  of
• 19:07
  all,
• 19:08
  I
• 19:08
  can
• 19:08
  make
• 19:09
  predictive
• 19:09
  analytics
• 19:09
  about
• 19:10
  equipment
• 19:10
  that
• 19:11
  we
• 19:11
  think
• 19:11
  are
• 19:11
  going
• 19:11
  to
• 19:11
  go
• 19:12
  down,
• 19:12
  right?
• 19:12
  So
• 19:12
  we
• 19:13
  keep
• 19:13
  seeing
• 19:13
  a
• 19:13
  photo
• 19:13
  eye
• 19:14
  that's
• 19:14
  missing
• 19:14
  something
• 19:15
  going
• 19:15
  by
• 19:15
  it
• 19:15
  or
• 19:16
  a
• 19:16
  belt
• 19:17
  that
• 19:17
  isn't
• 19:18
  working
• 19:18
  properly.
• 19:19
  So
• 19:19
  we
• 19:19
  can
• 19:20
  alert
• 19:21
  a
• 19:21
  maintenance
• 19:21
  person
• 19:22
  or
• 19:22
  somebody
• 19:22
  that's
• 19:22
  in
• 19:22
  charge
• 19:23
  of
• 19:23
  the
• 19:23
  floor
• 19:23
  to
• 19:23
  say,
• 19:24
  hey,
• 19:24
  this
• 19:24
  is
• 19:24
  happening
• 19:25
  over
• 19:25
  on
• 19:25
  repeat.
• 19:25
  We
• 19:26
  think
• 19:26
  you
• 19:26
  need
• 19:26
  to
• 19:26
  look
• 19:26
  at
• 19:26
  this.
• 19:27
  And,
• 19:27
  and
• 19:27
  they
• 19:27
  can
• 19:28
  do
• 19:28
  preventative
• 19:28
  maintenance.
• 19:29
  So
• 19:29
  that's
• 19:30
  one
• 19:30
  thing.
• 19:30
  But
• 19:30
  the
• 19:30
  other
• 19:30
  thing
• 19:31
  that
• 19:31
  I
• 19:31
  think
• 19:31
  is
• 19:31
  going
• 19:31
  to
• 19:31
  be
• 19:32
  really
• 19:32
  exciting
• 19:32
  is
• 19:32
  when
• 19:32
  we
• 19:33
  start
• 19:33
  working
• 19:33
  with
• 19:33
  digital
• 19:34
  twins.
• 19:37
  So
• 19:37
  some
• 19:38
  of
• 19:38
  that
• 19:38
  stuff
• 19:38
  that
• 19:38
  we
• 19:38
  were
• 19:38
  talking
• 19:39
  about,
• 19:39
  like
• 19:39
  if
• 19:39
  I
• 19:39
  were
• 19:39
  able
• 19:40
  to
• 19:40
  stand
• 19:40
  up
• 19:41
  a
• 19:41
  twin
• 19:42
  of
• 19:42
  what
• 19:42
  I'm
• 19:42
  doing
• 19:43
  and
• 19:43
  I
• 19:43
  could
• 19:43
  simulate,
• 19:44
  if
• 19:45
  I
• 19:45
  mess
• 19:45
  around
• 19:45
  with
• 19:46
  picking,
• 19:46
  what
• 19:47
  does
• 19:47
  that
• 19:47
  do
• 19:47
  to
• 19:47
  my
• 19:47
  receiving?
• 19:49
  Those
• 19:49
  are
• 19:49
  some
• 19:49
  of
• 19:49
  the
• 19:49
  things
• 19:50
  that
• 19:50
  will
• 19:50
  be
• 19:50
  coming,
• 19:50
  I
• 19:51
  think
• 19:51
  will
• 19:51
  be
• 19:51
  really
• 19:52
  amazing
• 19:53
  with
• 19:53
  the
• 19:53
  software
• 19:53
  that's
• 19:54
  coming
• 19:54
  out,
• 19:54
  being
• 19:54
  able
• 19:55
  to
• 19:55
  test
• 19:56
  before
• 19:56
  you
• 19:56
  do
• 19:56
  something,
• 19:57
  you
• 19:57
  know,
• 19:58
  with
• 19:58
  a
• 19:58
  digital
• 19:58
  twin.
• 19:59
  So
• 20:00
  and
• 20:00
  simulate
• 20:01
  and
• 20:01
  try
• 20:01
  different
• 20:01
  things.
• 20:02
  So
• 20:02
  I
• 20:02
  think
• 20:02
  that
• 20:02
  There
• 20:03
  will
• 20:03
  be
• 20:03
  a
• 20:03
  lot
• 20:03
  of
• 20:03
  focus
• 20:04
  on
• 20:04
  that
• 20:04
  as,
• 20:05
  as
• 20:05
  well
• 20:05
  as
• 20:05
  continued
• 20:06
  focus
• 20:06
  on
• 20:06
  the
• 20:06
  network
• 20:08
  inventory
• 20:09
  visibility
• 20:09
  discussion
• 20:10
  that
• 20:10
  we've
• 20:10
  had
• 20:10
  in
• 20:10
  the
• 20:10
  past,
• 20:11
  you
• 20:11
  know,
• 20:11
  knowing
• 20:12
  where
• 20:12
  my
• 20:12
  inventory's
• 20:12
  at.
• 20:13
  So
• 20:13
  software,
• 20:14
  I
• 20:14
  think
• 20:14
  will
• 20:14
  be
• 20:14
  the
• 20:14
  key
• 20:15
  over
• 20:15
  the
• 20:15
  next
• 20:15
  few
• 20:15
  years.
• 20:17
  And
• 20:18
  Kim,
• 20:18
  is
• 20:18
  there
• 20:18
  anything
• 20:19
  else
• 20:19
  that,
• 20:19
  that
• 20:20
  you've
• 20:20
  seen,
• 20:20
  People?
• 20:21
  Because
• 20:21
  I
• 20:21
  love
• 20:21
  this
• 20:22
  idea
• 20:22
  of
• 20:22
  like,
• 20:23
  yes,
• 20:23
  let's
• 20:24
  take
• 20:24
  a.
• 20:24
  Let,
• 20:24
  let's
• 20:25
  evaluate
• 20:25
  after
• 20:25
  we've
• 20:26
  already
• 20:26
  made
• 20:26
  the
• 20:26
  investment.
• 20:27
  But
• 20:27
  my
• 20:27
  guess
• 20:27
  is
• 20:28
  that
• 20:28
  a
• 20:28
  lot
• 20:28
  of
• 20:28
  retailers,
• 20:29
  especially
• 20:30
  executive
• 20:31
  teams,
• 20:31
  who
• 20:31
  are
• 20:32
  deciding
• 20:32
  how
• 20:32
  much
• 20:32
  money
• 20:33
  you're
• 20:33
  going
• 20:33
  to
• 20:33
  continue
• 20:33
  to
• 20:34
  put
• 20:35
  into
• 20:35
  this
• 20:36
  are,
• 20:36
  are
• 20:36
  asking
• 20:37
  like,
• 20:37
  how,
• 20:37
  how
• 20:37
  else
• 20:38
  might
• 20:38
  you
• 20:38
  get
• 20:39
  a,
• 20:39
  a
• 20:40
  better
• 20:40
  picture
• 20:40
  of
• 20:41
  how
• 20:41
  to
• 20:41
  better
• 20:41
  invest
• 20:42
  the
• 20:42
  second
• 20:42
  time
• 20:42
  around?
• 20:43
  Are
• 20:43
  there
• 20:43
  any
• 20:43
  other
• 20:43
  tools.
• 20:44
  You
• 20:44
  mentioned
• 20:44
  digital
• 20:44
  twins,
• 20:45
  but
• 20:45
  are
• 20:45
  there
• 20:45
  any
• 20:45
  other
• 20:46
  tools
• 20:46
  that
• 20:46
  you're
• 20:47
  seeing
• 20:47
  retailers
• 20:48
  use
• 20:48
  or,
• 20:48
  or
• 20:49
  automation
• 20:50
  teams
• 20:50
  use
• 20:51
  to
• 20:51
  try
• 20:51
  to
• 20:51
  sell
• 20:52
  through
• 20:52
  and
• 20:53
  say,
• 20:53
  like,
• 20:53
  this
• 20:54
  is
• 20:54
  how
• 20:54
  we're
• 20:54
  going
• 20:54
  to
• 20:54
  do
• 20:54
  it
• 20:54
  better
• 20:55
  next
• 20:55
  time?
• 20:56
  Yeah,
• 20:57
  I,
• 20:57
  well,
• 20:57
  I
• 20:58
  don't
• 20:58
  know
• 20:58
  if
• 20:58
  it's
• 20:58
  a
• 20:58
  tool.
• 20:59
  Well,
• 20:59
  you
• 21:00
  know,
• 21:02
  I
• 21:02
  think
• 21:02
  that
• 21:03
  simulation
• 21:04
  gives
• 21:05
  both
• 21:05
  sides
• 21:05
  an
• 21:06
  opportunity
• 21:06
  to
• 21:07
  say
• 21:07
  if
• 21:07
  I
• 21:08
  don't,
• 21:08
  if
• 21:08
  I
• 21:08
  do
• 21:08
  this,
• 21:09
  it
• 21:10
  impacts
• 21:10
  that.
• 21:11
  But
• 21:11
  I
• 21:11
  think
• 21:11
  that
• 21:12
  the
• 21:12
  really
• 21:12
  important
• 21:12
  thing
• 21:13
  to
• 21:13
  do
• 21:13
  is
• 21:13
  think
• 21:13
  about
• 21:15
  pulling
• 21:15
  in
• 21:16
  somebody
• 21:16
  that
• 21:16
  can
• 21:16
  support
• 21:17
  you
• 21:17
  and
• 21:17
  act
• 21:18
  as
• 21:18
  a
• 21:18
  cons,
• 21:18
  even
• 21:19
  a
• 21:19
  consultant.
• 21:19
  Right.
• 21:20
  You
• 21:20
  know,
• 21:20
  to
• 21:20
  say
• 21:21
  you
• 21:22
  have
• 21:22
  to
• 21:22
  consider
• 21:23
  all
• 21:23
  these
• 21:23
  different
• 21:23
  things,
• 21:24
  like
• 21:24
  how
• 21:25
  will
• 21:25
  this
• 21:26
  one
• 21:26
  thing
• 21:27
  impact
• 21:27
  another?
• 21:28
  And
• 21:28
  I
• 21:28
  think
• 21:29
  people
• 21:29
  have
• 21:29
  learned.
• 21:30
  Covid
• 21:31
  probably
• 21:31
  taught
• 21:31
  us,
• 21:32
  if
• 21:32
  you
• 21:33
  put
• 21:33
  a
• 21:33
  band
• 21:33
  aid,
• 21:34
  I
• 21:34
  don't
• 21:34
  know
• 21:34
  how
• 21:34
  to
• 21:35
  give
• 21:35
  you
• 21:35
  a
• 21:35
  picture
• 21:36
  in
• 21:36
  your
• 21:36
  head,
• 21:36
  but
• 21:37
  it's
• 21:37
  like,
• 21:37
  you
• 21:38
  know,
• 21:38
  I
• 21:38
  got
• 21:38
  it.
• 21:38
  Let's
• 21:39
  say
• 21:39
  that
• 21:39
  I've
• 21:39
  got
• 21:39
  a
• 21:39
  hole
• 21:40
  in
• 21:40
  a
• 21:40
  hose
• 21:41
  and
• 21:41
  one
• 21:42
  part
• 21:42
  of
• 21:42
  it,
• 21:42
  the
• 21:43
  water
• 21:43
  is
• 21:43
  just
• 21:43
  gushing
• 21:43
  out
• 21:44
  and
• 21:44
  I've
• 21:44
  stamped
• 21:44
  that
• 21:45
  over
• 21:45
  and
• 21:45
  then
• 21:45
  there's
• 21:45
  still
• 21:46
  a
• 21:46
  little
• 21:47
  trickle
• 21:47
  over
• 21:48
  here
• 21:48
  and
• 21:48
  that
• 21:48
  becomes
• 21:48
  the
• 21:49
  next
• 21:49
  thing
• 21:49
  you
• 21:50
  got
• 21:50
  to
• 21:50
  try
• 21:50
  to
• 21:51
  deal
• 21:51
  with
• 21:51
  is.
• 21:51
  So
• 21:52
  I
• 21:52
  think
• 21:52
  that
• 21:52
  people
• 21:53
  have
• 21:53
  learned
• 21:53
  and
• 21:53
  also
• 21:54
  be
• 21:54
  right
• 21:54
  why
• 21:55
  some
• 21:55
  people
• 21:55
  aren't
• 21:55
  jumping
• 21:56
  in
• 21:56
  to
• 21:56
  make
• 21:56
  large
• 21:56
  investments
• 21:57
  now.
• 21:58
  They're
• 21:59
  trying
• 21:59
  to
• 21:59
  tackle
• 22:00
  things
• 22:00
  from
• 22:00
  a
• 22:01
  holistic
• 22:01
  perspective.
• 22:03
  So
• 22:05
  without
• 22:05
  doing,
• 22:07
  using
• 22:07
  software
• 22:08
  and
• 22:09
  AI
• 22:10
  and
• 22:10
  some
• 22:11
  things
• 22:11
  like
• 22:11
  that,
• 22:12
  the
• 22:13
  next
• 22:13
  best
• 22:13
  thing
• 22:13
  is
• 22:14
  studies
• 22:15
  inside
• 22:15
  of
• 22:15
  a
• 22:15
  building
• 22:17
  and
• 22:17
  the
• 22:18
  automation.
• 22:20
  And
• 22:20
  that's
• 22:20
  what
• 22:21
  we've
• 22:21
  done
• 22:21
  traditionally.
• 22:22
  Right.
• 22:22
  So
• 22:23
  what
• 22:24
  the
• 22:24
  AI
• 22:24
  and
• 22:24
  the
• 22:24
  digital
• 22:24
  twin
• 22:25
  will
• 22:25
  give
• 22:25
  you
• 22:25
  a
• 22:25
  speed.
• 22:26
  Okay.
• 22:27
  They
• 22:27
  just
• 22:27
  make
• 22:27
  that
• 22:28
  process
• 22:29
  get
• 22:29
  you
• 22:29
  to
• 22:29
  your
• 22:29
  answers
• 22:30
  or
• 22:30
  to
• 22:30
  your
• 22:30
  optimizations
• 22:31
  much
• 22:31
  more
• 22:32
  quickly
• 22:32
  than
• 22:32
  having
• 22:33
  to
• 22:33
  manually
• 22:33
  do
• 22:34
  that
• 22:34
  process.
• 22:34
  That
• 22:34
  makes
• 22:35
  sense.
• 22:35
  Yeah.
• 22:36
  They
• 22:37
  probably
• 22:37
  enable
• 22:37
  you
• 22:38
  to
• 22:38
  do
• 22:38
  things
• 22:38
  you
• 22:38
  can't
• 22:38
  do
• 22:39
  in
• 22:40
  with
• 22:40
  regular
• 22:40
  studies
• 22:41
  too
• 22:41
  Right.
• 22:41
  They
• 22:41
  get
• 22:41
  you
• 22:42
  into
• 22:42
  new
• 22:42
  arenas
• 22:42
  as
• 22:42
  well.
• 22:43
  Right,
• 22:43
  Kim?
• 22:44
  Yeah,
• 22:44
  because
• 22:44
  you
• 22:44
  know,
• 22:45
  one
• 22:45
  of
• 22:45
  the
• 22:45
  hardest
• 22:46
  things
• 22:46
  to
• 22:46
  do
• 22:46
  actually
• 22:46
  is
• 22:47
  to
• 22:47
  justify
• 22:47
  putting
• 22:47
  in
• 22:48
  an
• 22:48
  automation
• 22:49
  in
• 22:49
  an
• 22:49
  existing
• 22:50
  building
• 22:50
  because
• 22:51
  people
• 22:51
  are
• 22:52
  working,
• 22:52
  operations
• 22:53
  are
• 22:53
  going,
• 22:54
  some
• 22:54
  of
• 22:54
  our
• 22:54
  customers
• 22:55
  work,
• 22:55
  you
• 22:55
  know,
• 22:55
  three
• 22:56
  shifts.
• 22:57
  So,
• 22:58
  so
• 22:59
  that's
• 22:59
  why
• 22:59
  it's
• 22:59
  also
• 23:00
  really
• 23:00
  hard
• 23:00
  to
• 23:00
  justify
• 23:01
  doing
• 23:01
  anything
• 23:01
  inside
• 23:02
  those
• 23:02
  buildings
• 23:02
  is
• 23:02
  because
• 23:02
  you
• 23:03
  have
• 23:03
  to
• 23:03
  have
• 23:03
  downtime
• 23:04
  to
• 23:04
  put
• 23:04
  in
• 23:05
  automation.
• 23:05
  But
• 23:06
  I
• 23:06
  think
• 23:06
  that,
• 23:07
  you
• 23:08
  know,
• 23:08
  that's
• 23:09
  another
• 23:09
  beauty
• 23:09
  of
• 23:09
  having
• 23:10
  the
• 23:10
  simulation
• 23:10
  because
• 23:10
  you
• 23:11
  can't
• 23:11
  necessarily
• 23:12
  stop
• 23:12
  an
• 23:13
  operation,
• 23:13
  say
• 23:14
  turn
• 23:14
  this
• 23:14
  switch
• 23:15
  on
• 23:15
  and
• 23:15
  then
• 23:15
  run
• 23:15
  it
• 23:15
  this
• 23:16
  way
• 23:16
  and
• 23:16
  see
• 23:16
  if
• 23:16
  that's
• 23:16
  better.
• 23:17
  Right.
• 23:17
  It
• 23:17
  doesn't
• 23:18
  work
• 23:18
  like
• 23:18
  that.
• 23:19
  So
• 23:19
  that's
• 23:19
  why
• 23:19
  I
• 23:19
  think
• 23:20
  the
• 23:20
  software
• 23:20
  will
• 23:20
  be
• 23:20
  really
• 23:21
  exciting.
• 23:21
  And
• 23:22
  I
• 23:22
  have
• 23:22
  to
• 23:22
  imagine
• 23:23
  that
• 23:23
  also
• 23:23
  comes
• 23:24
  into
• 23:25
  or
• 23:25
  brings
• 23:26
  into
• 23:26
  question
• 23:26
  kind
• 23:27
  of
• 23:27
  like
• 23:27
  people
• 23:28
  and
• 23:28
  what
• 23:28
  the
• 23:28
  people's
• 23:29
  tasks
• 23:29
  like
• 23:29
  you
• 23:29
  mentioned
• 23:30
  are
• 23:30
  too.
• 23:30
  Not
• 23:30
  just
• 23:31
  how
• 23:31
  the
• 23:31
  automation
• 23:31
  is
• 23:32
  working,
• 23:32
  but
• 23:32
  where
• 23:33
  you
• 23:33
  might
• 23:33
  want
• 23:34
  to
• 23:34
  deploy
• 23:34
  your
• 23:34
  human
• 23:35
  workforce
• 23:35
  versus
• 23:36
  like,
• 23:36
  is
• 23:36
  this
• 23:37
  a
• 23:37
  place
• 23:37
  to
• 23:37
  add
• 23:38
  automation,
• 23:38
  add
• 23:39
  robotics
• 23:39
  or
• 23:39
  to
• 23:40
  speed
• 23:40
  up
• 23:40
  the
• 23:40
  process?
• 23:41
  Is
• 23:41
  that
• 23:41
  what
• 23:41
  you're
• 23:41
  finding?
• 23:42
  Yeah,
• 23:43
  I
• 23:43
  mean,
• 23:43
  I
• 23:43
  think
• 23:43
  that,
• 23:44
  you
• 23:44
  know,
• 23:44
  when
• 23:44
  you
• 23:44
  think
• 23:44
  about
• 23:45
  anything
• 23:45
  that
• 23:45
  is
• 23:46
  the
• 23:46
  last
• 23:46
  touch
• 23:47
  before
• 23:48
  anything,
• 23:49
  a
• 23:49
  product
• 23:49
  reaches
• 23:49
  a
• 23:50
  consumer,
• 23:51
  you
• 23:51
  don't
• 23:51
  necessarily
• 23:51
  want
• 23:52
  to
• 23:52
  give
• 23:52
  that
• 23:52
  to
• 23:53
  automation.
• 23:54
  So
• 23:54
  when
• 23:55
  you're
• 23:55
  doing
• 23:56
  value
• 23:56
  added
• 23:56
  services
• 23:57
  or
• 23:57
  you're
• 23:57
  doing
• 23:58
  that
• 23:58
  last
• 23:59
  confirmation
• 24:00
  that
• 24:00
  things
• 24:00
  are
• 24:00
  accurate,
• 24:01
  which
• 24:01
  is
• 24:01
  super
• 24:02
  important
• 24:02
  when
• 24:02
  you're
• 24:03
  dealing
• 24:03
  with
• 24:03
  E
• 24:04
  commerce,
• 24:04
  those
• 24:05
  things
• 24:05
  are,
• 24:05
  you
• 24:05
  know,
• 24:06
  meant
• 24:06
  for
• 24:06
  humans.
• 24:07
  The
• 24:07
  other
• 24:07
  thing
• 24:07
  that
• 24:07
  we're,
• 24:08
  we're
• 24:08
  learning
• 24:08
  and
• 24:09
  you'll
• 24:09
  hear
• 24:09
  more
• 24:09
  about
• 24:10
  soon
• 24:10
  from
• 24:10
  us
• 24:11
  is
• 24:11
  a
• 24:11
  partnership
• 24:12
  that
• 24:12
  we're
• 24:12
  going
• 24:12
  to
• 24:12
  be
• 24:12
  coming
• 24:13
  out
• 24:13
  with
• 24:14
  and
• 24:15
  you
• 24:15
  guys
• 24:15
  will
• 24:15
  be
• 24:15
  talking
• 24:16
  about
• 24:16
  soon,
• 24:16
  I
• 24:16
  think.
• 24:17
  But
• 24:18
  you
• 24:18
  know,
• 24:18
  the
• 24:19
  company
• 24:19
  that
• 24:19
  we're
• 24:19
  partnering
• 24:20
  with
• 24:20
  has
• 24:20
  learned
• 24:21
  it
• 24:21
  has
• 24:22
  to
• 24:22
  do
• 24:22
  with
• 24:22
  fulfillment.
• 24:23
  You
• 24:23
  know,
• 24:23
  there's,
• 24:24
  and
• 24:24
  using
• 24:25
  your
• 24:25
  stores
• 24:25
  for
• 24:25
  fulfillment
• 24:26
  basis.
• 24:27
  Right.
• 24:27
  So
• 24:28
  there's.
• 24:28
  When
• 24:29
  you
• 24:29
  take
• 24:29
  a
• 24:29
  store
• 24:29
  employee,
• 24:30
  we,
• 24:30
  we've
• 24:30
  talked
• 24:31
  about
• 24:31
  this
• 24:31
  too
• 24:31
  in
• 24:31
  the
• 24:31
  past.
• 24:32
  So
• 24:33
  you
• 24:33
  take
• 24:33
  a
• 24:34
  store
• 24:34
  employee
• 24:34
  who
• 24:34
  is
• 24:35
  all
• 24:35
  about
• 24:35
  customer
• 24:36
  service
• 24:37
  and
• 24:37
  I
• 24:37
  want
• 24:37
  to
• 24:37
  make
• 24:38
  you
• 24:38
  happy.
• 24:38
  Well,
• 24:38
  they
• 24:38
  should
• 24:39
  be.
• 24:39
  That's
• 24:39
  their
• 24:39
  job.
• 24:40
  I'm
• 24:40
  in
• 24:40
  the
• 24:40
  store
• 24:41
  and
• 24:41
  I
• 24:41
  don't,
• 24:41
  you
• 24:41
  know,
• 24:41
  I
• 24:41
  want
• 24:42
  to
• 24:42
  help
• 24:42
  the
• 24:42
  customer
• 24:42
  and
• 24:43
  you
• 24:43
  try
• 24:43
  to
• 24:43
  make
• 24:43
  them
• 24:43
  run
• 24:44
  a
• 24:44
  piece
• 24:44
  of
• 24:44
  equipment.
• 24:44
  Those
• 24:45
  two
• 24:45
  things
• 24:45
  do
• 24:45
  not
• 24:45
  go
• 24:46
  together
• 24:46
  necessarily.
• 24:47
  So
• 24:48
  those
• 24:48
  are
• 24:49
  things
• 24:49
  too
• 24:49
  that
• 24:49
  we
• 24:49
  learned.
• 24:49
  It's
• 24:50
  like,
• 24:50
  you
• 24:50
  know,
• 24:50
  use
• 24:51
  people
• 24:52
  with
• 24:52
  certain
• 24:53
  talents
• 24:53
  to
• 24:53
  do
• 24:53
  certain
• 24:54
  things
• 24:54
  and
• 24:54
  people
• 24:55
  with
• 24:55
  other
• 24:55
  talents
• 24:55
  do
• 24:55
  other
• 24:56
  things.
• 24:56
  Um,
• 24:57
  but
• 24:57
  I
• 24:57
  think
• 24:57
  it's
• 24:57
  the,
• 24:58
  where
• 24:58
  the
• 24:58
  human
• 24:59
  touch
• 24:59
  doesn't
• 24:59
  go
• 24:59
  away
• 25:00
  is
• 25:00
  those
• 25:00
  things.
• 25:00
  But
• 25:01
  right
• 25:01
  before
• 25:01
  that
• 25:01
  product
• 25:02
  is
• 25:02
  going
• 25:02
  to
• 25:02
  touch
• 25:03
  my.
• 25:04
  My
• 25:04
  door
• 25:04
  or
• 25:04
  your
• 25:05
  door,
• 25:06
  My
• 25:06
  experience
• 25:06
  with
• 25:06
  it,
• 25:07
  the
• 25:07
  brand
• 25:07
  in
• 25:08
  a
• 25:08
  store.
• 25:09
  You
• 25:09
  want
• 25:09
  those
• 25:09
  to
• 25:10
  be
• 25:10
  accurate.
• 25:11
  So,
• 25:11
  yeah,
• 25:12
  it's
• 25:12
  a
• 25:12
  great
• 25:12
  question,
• 25:13
  Anne,
• 25:13
  because,
• 25:13
  yeah,
• 25:13
  it's,
• 25:13
  it's.
• 25:14
  I
• 25:14
  mean,
• 25:14
  the
• 25:15
  other
• 25:15
  aspect
• 25:15
  of
• 25:16
  Digital
• 25:16
  Twins
• 25:16
  is
• 25:16
  like,
• 25:17
  you
• 25:17
  can't
• 25:17
  redeploy
• 25:18
  your.
• 25:18
  Your
• 25:18
  workforce
• 25:19
  in
• 25:19
  these
• 25:19
  buildings
• 25:19
  either,
• 25:20
  because
• 25:20
  they're
• 25:20
  working
• 25:20
  three
• 25:21
  shifts.
• 25:21
  So
• 25:21
  you've
• 25:21
  got
• 25:21
  to,
• 25:22
  you
• 25:22
  gotta
• 25:22
  use,
• 25:22
  you
• 25:22
  know,
• 25:23
  simulations
• 25:23
  like
• 25:23
  that
• 25:23
  to
• 25:24
  get
• 25:24
  to
• 25:24
  the
• 25:24
  right
• 25:24
  answer.
• 25:25
  All
• 25:25
  right,
• 25:25
  Kim,
• 25:26
  let's
• 25:26
  get
• 25:26
  you
• 25:26
  out
• 25:26
  of
• 25:26
  here
• 25:27
  on
• 25:27
  this.
• 25:27
  You
• 25:27
  know,
• 25:28
  I
• 25:28
  think
• 25:28
  Anne
• 25:28
  and
• 25:29
  Anne
• 25:29
  and
• 25:29
  I
• 25:29
  would
• 25:30
  lose
• 25:30
  our
• 25:30
  pundit
• 25:31
  card,
• 25:31
  our
• 25:31
  media
• 25:32
  card,
• 25:32
  if
• 25:32
  we
• 25:32
  didn't
• 25:32
  ask
• 25:33
  you
• 25:33
  this
• 25:33
  next
• 25:33
  question.
• 25:34
  And
• 25:35
  that
• 25:35
  is
• 25:36
  around
• 25:36
  tariffs.
• 25:37
  Okay.
• 25:38
  There's
• 25:38
  been.
• 25:39
  Oh,
• 25:40
  yeah,
• 25:40
  we're
• 25:40
  gonna
• 25:41
  do
• 25:41
  it.
• 25:41
  We're
• 25:41
  gonna
• 25:41
  talk
• 25:41
  about
• 25:42
  it.
• 25:42
  We're
• 25:43
  gonna
• 25:43
  talk
• 25:43
  about
• 25:43
  it.
• 25:44
  We're
• 25:44
  gonna
• 25:44
  talk
• 25:45
  about.
• 25:45
  This
• 25:45
  could
• 25:45
  be
• 25:45
  the
• 25:45
  understatement
• 25:46
  of
• 25:46
  the
• 25:46
  year
• 25:47
  already,
• 25:47
  but
• 25:48
  there's
• 25:48
  been
• 25:48
  a
• 25:48
  lot
• 25:48
  of
• 25:49
  noise
• 25:49
  on
• 25:49
  this
• 25:49
  topic
• 25:50
  of
• 25:50
  late.
• 25:51
  We
• 25:52
  don't
• 25:52
  know
• 25:52
  which
• 25:52
  way
• 25:52
  they're
• 25:52
  going
• 25:52
  to
• 25:52
  go
• 25:53
  either.
• 25:53
  Let's
• 25:53
  be
• 25:53
  frank.
• 25:53
  We
• 25:54
  don't
• 25:54
  know
• 25:54
  which
• 25:54
  countries
• 25:54
  are
• 25:54
  going
• 25:55
  to
• 25:55
  affect,
• 25:55
  you
• 25:56
  know,
• 25:56
  how
• 25:56
  they're
• 25:56
  going
• 25:56
  to
• 25:56
  roll
• 25:57
  out.
• 25:57
  So
• 25:57
  my
• 25:58
  final
• 25:58
  question
• 25:58
  to
• 25:58
  you
• 25:58
  is,
• 26:00
  how
• 26:00
  do
• 26:00
  you
• 26:00
  think
• 26:01
  tariffs
• 26:02
  will
• 26:02
  impact
• 26:03
  what
• 26:03
  we've
• 26:03
  been
• 26:03
  discussing
• 26:04
  thus
• 26:04
  far
• 26:04
  on
• 26:04
  this
• 26:04
  podcast,
• 26:05
  if
• 26:05
  at
• 26:05
  all?
• 26:06
  Like,
• 26:06
  what
• 26:06
  do
• 26:06
  you
• 26:06
  think?
• 26:07
  What
• 26:07
  do
• 26:07
  you
• 26:07
  think?
• 26:08
  Well,
• 26:10
  I
• 26:10
  think
• 26:10
  the
• 26:10
  unfortunate
• 26:11
  thing
• 26:11
  that
• 26:11
  would
• 26:11
  happen
• 26:12
  is
• 26:12
  it
• 26:12
  will
• 26:12
  delay
• 26:13
  investments
• 26:14
  even
• 26:14
  more
• 26:16
  because
• 26:16
  somebody's
• 26:16
  at
• 26:17
  a
• 26:17
  pickup,
• 26:17
  depending
• 26:17
  price,
• 26:18
  the
• 26:18
  cost
• 26:19
  of.
• 26:19
  Of
• 26:19
  increased
• 26:20
  cost
• 26:20
  of
• 26:20
  goods.
• 26:20
  Right.
• 26:21
  So
• 26:22
  first
• 26:22
  it'll
• 26:22
  be
• 26:22
  the
• 26:22
  retailer,
• 26:23
  and
• 26:23
  then
• 26:23
  it'll
• 26:23
  be
• 26:23
  the
• 26:23
  consumer,
• 26:24
  and
• 26:24
  then
• 26:24
  we're
• 26:24
  talking
• 26:24
  about
• 26:25
  not
• 26:25
  spending
• 26:25
  money
• 26:25
  again.
• 26:26
  So,
• 26:27
  you
• 26:28
  know,
• 26:28
  without
• 26:28
  getting
• 26:28
  political,
• 26:29
  I
• 26:29
  think
• 26:30
  it's
• 26:30
  a
• 26:30
  bad
• 26:30
  idea.
• 26:31
  I
• 26:31
  mean,
• 26:31
  I
• 26:31
  think
• 26:31
  people
• 26:31
  are
• 26:31
  starting
• 26:32
  to
• 26:32
  realize
• 26:32
  that
• 26:34
  it's,
• 26:35
  you
• 26:35
  know,
• 26:35
  there's
• 26:35
  going
• 26:36
  to
• 26:36
  be
• 26:36
  a
• 26:36
  session
• 26:36
  at
• 26:37
  the
• 26:37
  Retail
• 26:37
  Industry
• 26:38
  Leaders
• 26:38
  association
• 26:39
  meeting
• 26:39
  in
• 26:39
  a
• 26:39
  couple
• 26:40
  weeks
• 26:40
  all
• 26:40
  around
• 26:41
  tariffs.
• 26:41
  And
• 26:41
  when
• 26:42
  we
• 26:42
  were
• 26:42
  planning
• 26:42
  for
• 26:42
  it,
• 26:43
  we
• 26:43
  were
• 26:43
  talking
• 26:43
  about,
• 26:44
  you
• 26:45
  know,
• 26:45
  China
• 26:46
  and
• 26:46
  the.
• 26:47
  And
• 26:48
  southern
• 26:49
  Asia.
• 26:49
  Right.
• 26:49
  And
• 26:50
  what
• 26:50
  those
• 26:50
  might
• 26:51
  be
• 26:51
  looking
• 26:51
  like.
• 26:51
  But
• 26:51
  now
• 26:52
  we're
• 26:52
  having.
• 26:52
  They're
• 26:53
  having
• 26:53
  to
• 26:53
  have
• 26:53
  discussions
• 26:54
  about
• 26:54
  Mexico
• 26:54
  and
• 26:55
  Canada,
• 26:56
  which,
• 26:57
  you
• 26:57
  know,
• 26:58
  it's
• 26:58
  not
• 26:58
  easy
• 26:59
  for
• 26:59
  a
• 26:59
  company
• 27:00
  to
• 27:00
  completely
• 27:00
  change
• 27:01
  its
• 27:01
  supply
• 27:01
  chain
• 27:01
  and
• 27:02
  where
• 27:02
  you're
• 27:02
  getting
• 27:02
  things
• 27:02
  from.
• 27:04
  So
• 27:04
  that
• 27:05
  having
• 27:05
  to
• 27:05
  do
• 27:06
  that
• 27:06
  means
• 27:06
  they
• 27:06
  stop
• 27:07
  doing
• 27:07
  everything
• 27:07
  else.
• 27:07
  And
• 27:08
  they're
• 27:08
  trying
• 27:08
  to
• 27:08
  figure
• 27:08
  out
• 27:09
  where,
• 27:09
  you
• 27:10
  know,
• 27:10
  where
• 27:10
  do
• 27:10
  I
• 27:10
  get
• 27:11
  product
• 27:11
  from
• 27:11
  now?
• 27:12
  And
• 27:12
  standing
• 27:13
  up,
• 27:13
  it
• 27:13
  sounds
• 27:13
  lovely.
• 27:14
  Like,
• 27:14
  if
• 27:14
  we
• 27:14
  can
• 27:14
  make
• 27:15
  everything
• 27:15
  in
• 27:15
  the
• 27:15
  United
• 27:15
  States,
• 27:16
  but
• 27:16
  we
• 27:17
  can't
• 27:17
  afford
• 27:17
  to
• 27:18
  and
• 27:18
  the
• 27:18
  timeline
• 27:19
  to
• 27:19
  have
• 27:19
  that
• 27:19
  happen
• 27:20
  is
• 27:20
  pretty
• 27:20
  long.
• 27:21
  So
• 27:22
  I
• 27:22
  think
• 27:23
  I'd
• 27:23
  like
• 27:23
  not
• 27:24
  to
• 27:24
  talk
• 27:24
  about
• 27:24
  tariffs.
• 27:25
  I
• 27:25
  like
• 27:25
  not
• 27:25
  to
• 27:25
  think
• 27:25
  about
• 27:25
  them,
• 27:26
  but
• 27:26
  I
• 27:26
  have
• 27:26
  to
• 27:26
  think
• 27:26
  about
• 27:26
  them
• 27:27
  every
• 27:27
  day
• 27:29
  as
• 27:29
  part
• 27:29
  of
• 27:29
  my
• 27:30
  job.
• 27:30
  We
• 27:30
  have
• 27:30
  to,
• 27:30
  you
• 27:30
  know,
• 27:31
  we
• 27:31
  are
• 27:31
  keeping
• 27:31
  a
• 27:31
  really
• 27:31
  close
• 27:32
  eye
• 27:32
  on
• 27:32
  how
• 27:32
  they're
• 27:32
  going
• 27:32
  to
• 27:33
  be
• 27:33
  impacting
• 27:33
  our
• 27:33
  customers.
• 27:34
  So,
• 27:35
  yeah,
• 27:36
  I
• 27:36
  mean,
• 27:36
  Kim,
• 27:37
  it
• 27:37
  brings
• 27:37
  up
• 27:37
  a
• 27:37
  question
• 27:38
  though,
• 27:38
  like,
• 27:39
  maybe
• 27:40
  not,
• 27:40
  but
• 27:41
  is
• 27:41
  there
• 27:41
  a
• 27:41
  possibility
• 27:42
  that
• 27:42
  adding
• 27:43
  automation
• 27:44
  or
• 27:44
  even
• 27:45
  sweating
• 27:45
  your
• 27:45
  existing
• 27:46
  automation,
• 27:47
  this
• 27:47
  cool
• 27:47
  new
• 27:47
  term
• 27:48
  that
• 27:48
  I've
• 27:48
  learned
• 27:48
  this,
• 27:49
  this
• 27:49
  session,
• 27:50
  but
• 27:50
  like,
• 27:50
  is
• 27:51
  there
• 27:51
  an,
• 27:51
  is
• 27:51
  there
• 27:51
  a
• 27:51
  chance
• 27:52
  that
• 27:52
  that's
• 27:52
  where
• 27:52
  retailers
• 27:53
  could
• 27:53
  recoup
• 27:54
  some
• 27:54
  of
• 27:54
  these
• 27:54
  costs
• 27:55
  that
• 27:55
  they're
• 27:55
  getting
• 27:55
  that,
• 27:55
  you
• 27:56
  know,
• 27:56
  instead
• 27:56
  of
• 27:56
  passing
• 27:57
  those
• 27:57
  tariffs
• 27:57
  on
• 27:58
  and
• 27:58
  their
• 27:59
  full
• 27:59
  amount
• 27:59
  to
• 28:00
  the
• 28:00
  consumer,
• 28:01
  is
• 28:01
  there
• 28:01
  an
• 28:02
  opportunity
• 28:02
  for
• 28:02
  them
• 28:03
  to,
• 28:03
  because
• 28:03
  of
• 28:04
  the
• 28:04
  flexibility
• 28:04
  of
• 28:04
  the
• 28:04
  automation,
• 28:05
  for
• 28:05
  them
• 28:05
  to
• 28:05
  be
• 28:05
  able
• 28:06
  to
• 28:06
  take
• 28:06
  some
• 28:06
  of
• 28:07
  these
• 28:07
  out?
• 28:08
  Somewhat,
• 28:09
  I
• 28:10
  just
• 28:10
  don't
• 28:10
  think
• 28:10
  to
• 28:11
  a
• 28:11
  great
• 28:11
  extent,
• 28:12
  unfortunately.
• 28:13
  I
• 28:13
  think
• 28:13
  they're
• 28:13
  going
• 28:14
  to
• 28:14
  have
• 28:14
  to
• 28:14
  be
• 28:15
  focusing
• 28:15
  on
• 28:15
  keeping
• 28:16
  their
• 28:16
  profit
• 28:16
  levels
• 28:17
  where
• 28:17
  they
• 28:17
  need
• 28:17
  them
• 28:17
  to
• 28:17
  be.
• 28:18
  Right.
• 28:18
  So
• 28:19
  sure.
• 28:19
  If,
• 28:20
  if
• 28:20
  it
• 28:20
  impacts
• 28:21
  their
• 28:21
  bottom
• 28:21
  line
• 28:21
  and
• 28:22
  they
• 28:22
  can't.
• 28:22
  I
• 28:22
  mean,
• 28:22
  I'm
• 28:23
  sure
• 28:23
  that,
• 28:23
  yeah,
• 28:23
  automation
• 28:24
  always
• 28:24
  saves
• 28:25
  human,
• 28:25
  human
• 28:26
  labor.
• 28:26
  Usually
• 28:26
  it
• 28:27
  should.
• 28:27
  Right.
• 28:27
  Otherwise
• 28:27
  you
• 28:28
  don't
• 28:28
  put
• 28:28
  it
• 28:28
  in.
• 28:29
  And
• 28:29
  I
• 28:29
  don't
• 28:30
  say
• 28:30
  just
• 28:30
  save.
• 28:30
  Sometimes
• 28:31
  you
• 28:31
  don't
• 28:31
  have
• 28:31
  people
• 28:32
  to
• 28:32
  do
• 28:32
  the
• 28:32
  job
• 28:32
  in
• 28:33
  certain
• 28:33
  places.
• 28:33
  Right.
• 28:34
  So
• 28:35
  there's
• 28:35
  a
• 28:36
  labor
• 28:36
  component,
• 28:36
  there's
• 28:36
  a
• 28:37
  space
• 28:37
  component
• 28:37
  which
• 28:38
  is
• 28:38
  becoming
• 28:38
  more
• 28:38
  and
• 28:38
  more
• 28:39
  important.
• 28:40
  But
• 28:41
  at
• 28:41
  the
• 28:41
  end
• 28:41
  of
• 28:41
  the
• 28:41
  day,
• 28:42
  you
• 28:42
  can
• 28:42
  only
• 28:42
  do
• 28:42
  so
• 28:43
  much
• 28:45
  to
• 28:45
  eke
• 28:46
  out
• 28:46
  savings.
• 28:47
  I'm
• 28:48
  not
• 28:48
  an
• 28:48
  economist,
• 28:50
  so
• 28:50
  I
• 28:50
  can't
• 28:51
  give
• 28:51
  100%.
• 28:52
  I
• 28:52
  just
• 28:52
  think
• 28:52
  at
• 28:52
  the
• 28:53
  end
• 28:53
  of
• 28:53
  the
• 28:53
  day
• 28:54
  the
• 28:54
  tariffs
• 28:55
  will
• 28:55
  not
• 28:55
  be
• 28:55
  good
• 28:56
  for
• 28:56
  the
• 28:56
  end
• 28:56
  consumer,
• 28:57
  which
• 28:57
  then
• 28:57
  therefore
• 28:58
  will
• 28:58
  not
• 28:58
  be
• 28:58
  good
• 28:58
  for
• 28:59
  our
• 28:59
  customers.
• 28:59
  Right.
• 29:00
  So
• 29:01
  I
• 29:01
  don't
• 29:01
  know
• 29:02
  even
• 29:02
  if
• 29:02
  we.
• 29:02
  Don'T
• 29:03
  go
• 29:03
  that
• 29:03
  far,
• 29:03
  Kim,
• 29:03
  I
• 29:04
  think
• 29:04
  I
• 29:04
  go
• 29:04
  back
• 29:04
  to
• 29:04
  what
• 29:05
  when
• 29:05
  you
• 29:05
  corrected
• 29:05
  me
• 29:05
  in
• 29:05
  the
• 29:05
  beginning
• 29:06
  you
• 29:06
  said,
• 29:06
  and
• 29:06
  there's
• 29:06
  also
• 29:07
  uncertainty.
• 29:08
  Certainty
• 29:08
  is
• 29:08
  a
• 29:08
  factor
• 29:09
  here.
• 29:09
  And
• 29:09
  so
• 29:10
  what
• 29:10
  I
• 29:10
  hear
• 29:10
  or
• 29:11
  what
• 29:11
  I
• 29:11
  think
• 29:11
  about
• 29:11
  is,
• 29:12
  you
• 29:12
  know,
• 29:12
  uncertainty
• 29:13
  is
• 29:13
  never
• 29:13
  good
• 29:14
  for
• 29:14
  investment
• 29:15
  because
• 29:15
  you
• 29:15
  want
• 29:16
  to
• 29:16
  know
• 29:16
  what
• 29:16
  you're
• 29:17
  investing
• 29:17
  in
• 29:17
  and
• 29:18
  what
• 29:18
  the
• 29:18
  outlook
• 29:18
  looks
• 29:19
  like.
• 29:19
  And
• 29:19
  so
• 29:19
  as
• 29:19
  long
• 29:20
  as
• 29:20
  we
• 29:20
  stay
• 29:20
  in
• 29:20
  this
• 29:20
  degree
• 29:21
  of
• 29:21
  uncertainty,
• 29:21
  there
• 29:22
  is
• 29:22
  a
• 29:22
  legitimate
• 29:23
  question
• 29:23
  about
• 29:23
  the
• 29:24
  level
• 29:24
  of
• 29:24
  investment
• 29:24
  we'll
• 29:25
  see,
• 29:25
  you
• 29:26
  know,
• 29:26
  particularly
• 29:26
  in
• 29:26
  this
• 29:26
  topic
• 29:27
  around
• 29:27
  supply
• 29:28
  chain
• 29:28
  automation.
• 29:29
  And
• 29:29
  that's
• 29:29
  already
• 29:29
  been
• 29:30
  constrained
• 29:30
  given
• 29:31
  the
• 29:31
  factors
• 29:31
  we've
• 29:31
  already
• 29:32
  discussed.
• 29:32
  So,
• 29:32
  yeah,
• 29:32
  it
• 29:33
  could
• 29:33
  potentially
• 29:33
  exacerbate
• 29:34
  that
• 29:34
  to
• 29:34
  some
• 29:34
  degree.
• 29:34
  I
• 29:35
  think
• 29:35
  uncertainty
• 29:35
  is
• 29:35
  not
• 29:36
  our
• 29:36
  friend,
• 29:37
  so.
• 29:38
  Well,
• 29:38
  one
• 29:39
  Thing
• 29:39
  we
• 29:39
  are
• 29:40
  certain
• 29:40
  about
• 29:40
  Kim,
• 29:41
  is
• 29:41
  that
• 29:41
  as
• 29:41
  the
• 29:42
  retailers
• 29:42
  and
• 29:43
  our
• 29:43
  audience
• 29:43
  are
• 29:44
  listening
• 29:44
  right
• 29:44
  now,
• 29:45
  you
• 29:45
  are
• 29:45
  an
• 29:46
  exceptional
• 29:46
  resource
• 29:47
  for
• 29:47
  them
• 29:47
  to
• 29:48
  have
• 29:48
  and
• 29:49
  for
• 29:49
  them
• 29:49
  to
• 29:50
  be
• 29:50
  able
• 29:50
  to
• 29:50
  reach
• 29:51
  out
• 29:51
  to.
• 29:52
  If
• 29:52
  they
• 29:52
  were
• 29:52
  listening
• 29:53
  to
• 29:53
  this
• 29:53
  conversation,
• 29:53
  they're
• 29:54
  really,
• 29:54
  they're
• 29:54
  struggling
• 29:55
  with
• 29:55
  how
• 29:55
  to
• 29:56
  kind
• 29:56
  of
• 29:56
  make
• 29:56
  these
• 29:57
  things
• 29:57
  figure
• 29:57
  out
• 29:57
  the
• 29:57
  next
• 29:58
  best
• 29:58
  move
• 29:58
  or
• 29:58
  make
• 29:58
  these
• 29:59
  types
• 29:59
  of
• 29:59
  automation
• 30:00
  work
• 30:01
  for
• 30:01
  them.
• 30:02
  Is
• 30:02
  there
• 30:02
  a
• 30:03
  great
• 30:03
  place
• 30:03
  place
• 30:03
  for
• 30:04
  them
• 30:04
  to
• 30:04
  reach
• 30:04
  out
• 30:05
  to
• 30:05
  you,
• 30:05
  to
• 30:05
  get
• 30:05
  in
• 30:06
  contact
• 30:06
  with
• 30:06
  you?
• 30:06
  How
• 30:07
  do
• 30:07
  you
• 30:07
  want
• 30:07
  people
• 30:08
  to
• 30:08
  reach
• 30:08
  out
• 30:09
  after
• 30:09
  this,
• 30:10
  this
• 30:11
  event?
• 30:11
  Kim?
• 30:12
  Well
• 30:13
  I'm
• 30:13
  on
• 30:13
  LinkedIn
• 30:14
  just
• 30:14
  Kim
• 30:14
  Beaudry
• 30:15
  B
• 30:15
  A
• 30:16
  U
• 30:16
  D
• 30:16
  R
• 30:17
  Y
• 30:17
  and
• 30:18
  of
• 30:18
  course
• 30:19
  our,
• 30:19
  our
• 30:20
  website
• 30:20
  dematic.com
• 30:21
  d
• 30:22
  e
• 30:22
  m
• 30:22
  a
• 30:23
  t
• 30:23
  dash
• 30:23
  I
• 30:23
  c
• 30:24
  dot
• 30:24
  com
• 30:25
  or
• 30:25
  I'm
• 30:26
  going
• 30:26
  to
• 30:26
  give
• 30:26
  you
• 30:26
  my
• 30:27
  very
• 30:27
  long
• 30:27
  email
• 30:28
  address
• 30:28
  because
• 30:29
  I
• 30:29
  have
• 30:29
  a
• 30:29
  really
• 30:29
  long
• 30:29
  first
• 30:30
  name.
• 30:30
  When
• 30:30
  you
• 30:31
  spell
• 30:31
  it
• 30:31
  all
• 30:31
  the
• 30:31
  way
• 30:31
  out
• 30:32
  it's
• 30:32
  Kimberly
• 30:33
  but
• 30:33
  it's
• 30:34
  K
• 30:34
  I
• 30:34
  M
• 30:35
  B
• 30:35
  E
• 30:36
  r
• 30:36
  l
• 30:37
  e
• 30:38
  y.b
• 30:39
  a
• 30:40
  u
• 30:41
  d
• 30:42
  r
• 30:42
  yematic.com
• 30:44
  any
• 30:44
  of
• 30:44
  those
• 30:45
  places
• 30:45
  you'll
• 30:45
  get
• 30:46
  through
• 30:46
  to
• 30:46
  me.
• 30:48
  Well
• 30:48
  Kim,
• 30:48
  we
• 30:49
  love
• 30:49
  having
• 30:49
  you
• 30:49
  on.
• 30:49
  I
• 30:49
  mean
• 30:50
  I,
• 30:50
  I,
• 30:51
  I
• 30:51
  just
• 30:52
  get
• 30:52
  the
• 30:52
  total
• 30:52
  level
• 30:53
  set
• 30:53
  for
• 30:53
  the
• 30:53
  year
• 30:54
  about
• 30:54
  like
• 30:54
  how
• 30:54
  to
• 30:54
  think
• 30:55
  about
• 30:55
  what's
• 30:55
  coming.
• 30:56
  And
• 30:56
  so
• 30:56
  as
• 30:56
  I'm
• 30:56
  talking
• 30:57
  to
• 30:57
  companies,
• 30:57
  I'm
• 30:57
  talking
• 30:57
  to
• 30:58
  retailers,
• 30:58
  I'm
• 30:58
  talking
• 30:58
  to,
• 30:59
  talking
• 31:00
  to
• 31:00
  technology
• 31:00
  solutions,
• 31:01
  this
• 31:02
  always
• 31:02
  level
• 31:02
  sets
• 31:02
  me
• 31:03
  for
• 31:03
  like
• 31:03
  okay,
• 31:03
  how
• 31:04
  are
• 31:04
  people
• 31:04
  thinking
• 31:04
  about
• 31:04
  this?
• 31:05
  What
• 31:05
  are
• 31:05
  they
• 31:05
  going
• 31:05
  to
• 31:05
  look
• 31:05
  at?
• 31:05
  What
• 31:06
  are
• 31:06
  they
• 31:06
  not?
• 31:06
  So
• 31:06
  I,
• 31:07
  I,
• 31:07
  on
• 31:07
  behalf
• 31:07
  of
• 31:07
  Ann
• 31:08
  and
• 31:08
  myself,
• 31:08
  we
• 31:08
  can't
• 31:08
  thank
• 31:09
  you
• 31:09
  enough
• 31:09
  for
• 31:09
  joining
• 31:10
  us
• 31:10
  again
• 31:10
  for
• 31:10
  what
• 31:10
  is
• 31:11
  it
• 31:11
  the
• 31:11
  fourth
• 31:11
  or
• 31:11
  fifth
• 31:11
  time
• 31:12
  to
• 31:12
  start
• 31:12
  out
• 31:13
  2025.
• 31:14
  So,
• 31:14
  so
• 31:15
  Kim,
• 31:15
  thank
• 31:15
  you
• 31:15
  for
• 31:15
  sitting
• 31:15
  down
• 31:16
  with
• 31:16
  us
• 31:16
  and
• 31:16
  thanks
• 31:17
  to
• 31:17
  all
• 31:17
  of
• 31:17
  you
• 31:17
  that
• 31:17
  hit
• 31:18
  download
• 31:18
  and
• 31:18
  listen
• 31:19
  to
• 31:19
  today's
• 31:19
  podcast.
• 31:20
  And
• 31:20
  as
• 31:20
  always,
• 31:21
  on
• 31:21
  behalf
• 31:21
  of
• 31:21
  Anne,
• 31:22
  myself
• 31:22
  and
• 31:23
  all
• 31:23
  of
• 31:23
  us
• 31:23
  at
• 31:23
  Omnitalk
• 31:24
  Retail,
• 31:24
  be
• 31:25
  careful
• 31:25
  out
• 31:25
  there.