Leading the way
NAED’s Futures Group is charting a course for unprecedented innovation in electrical supply chains; here’s how those efforts can help broader industry as well.
I am honored to work on a critically important and immensely challenging initiative with the National Association of Electrical Distributors' Futures Group. Our work is designed to spark conversations that may lead to unprecedented innovations by distributors as the electrical industry experiences radical change driven by electrification, renewable energy, artificial intelligence, and more. For the past year, we have interviewed experts and precipitated actionable ideas through monthly podcasts and live chats open to anyone interested in exploring the future. We call our work the Office Hours initiative, and we've just published our first annual report on learning, progress, and plans for the future. In this edition, I explore the importance of our work for all supply chains and share the downloadable report for your review and feedback.
Sparking dialogues, sharing ideas
Electrical distributors face a pivotal decision. They can gear up for steady sales and significant growth through product sales and services. Alternatively, they can seize the moment, positioning themselves not just as product providers but as visionaries shaping an electrical value chain fit for our era. Our 2023 mission for the National Association of Electrical Distributors (NAED) Futures Group and the Office Hours initiative? To shine a light on both paths, sparking dialogues with industry leaders and innovators and urging the industry to weigh all avenues in pursuit of the optimal outcomes for NAED members. In his compelling introduction to our report, Scott Teerlinck, President & CEO of Crescent Electric Supply Company, explains:
The Association's Futures Group will continue to help chart the course for our industry and, to the best of the group's collective ability, “look around corners” to help predict what is coming, whether it be new technologies, systems, or approaches. The NAED Futures Group will continue to schedule Office Hours sessions as a means for sharing ideas and opportunities and introducing thought leaders on various topics relevant to all of us as members of the Association.
Download our 2023 Annual Report on the NAED Futures Group Office Hours initiative:
Radical collaboration
My work with the NAED Futures Group Office Hours initiative is essential, and maybe not just for the electrical industry. I've learned that while sparking conversations that lead to groundbreaking innovations is challenging, our mission is crucial. We're striving to create a supply chain that genuinely helps society flourish in our modern era. And I'm wondering if a radical collaboration across industries might accelerate progress.
If I'm on to something, the right start might begin with an honest evaluation of an industry's capacity for innovation. To get going, I uploaded our report into OpenAI's ChatGPT and sought criteria to gauge innovation readiness. I share seven potential metrics below, each describing its ideal state based on our report's insights and recommendations. I invite you, the reader, to assess your industry against each metric using a five-point alignment scale: 1 = strongly unaligned, 2 = somewhat unaligned, 3 = neutral, 4 = somewhat aligned, and 5 = strongly aligned. Here they are:
Visionary mindset for change. Leaders and teams in our industry consistently strive for a forward-thinking vision undeterred by present limitations.
Data-driven decision making. Our industry adeptly manages data and harnesses data-driven insights, employing tools like AI to guide decisions.
Commitment to organizational learning. Our industry emphasizes ongoing learning and invests in training that addresses market trends, customer demands, and emerging tech.
Culture of innovation at the core. A culture of innovation permeates our industry, marked by transformative narratives and practices centered on customer solutions.
Harmonious integration of technology and physical processes. Our industry masterfully connects the digital with the physical, turning digital data into tangible insights for real-world use.
Diverse expertise engagement. Our industry consistently involves a broad spectrum of experts in its dialogues and decisions, resulting in comprehensive and enhanced solutions.
Customer-centric innovation approach. Innovations in our industry prioritize understanding and catering to its customers' ever-changing desires and needs.
Now, how does your industry compare against each metric and in total? Do you find all these metrics pertinent? Would you modify or introduce any? Would you tweak any descriptions? Can you envision deploying this assessment as a survey throughout your industry, encompassing manufacturers and distributors? Or maybe as a self-evaluation tool for leaders, innovators, and teams? Something else? Anything?
Let's initiate a collaborative effort. I welcome your feedback below, or you can contact me directly at mark.dancer@n4bi.com. I'll share my findings in upcoming editions.
Thanks for sharing the NAED report. They’ve started to move the ball down the field.