2014 NAED Market Overview
Transcription
2014 NAED Market Overview
NATIONAL ASSOCIATION OF ELECTRICAL DISTRIBUTORS 2014 NAED Market Overview February 2014 Market Overview: At a Glance* Top Three Services Top Three Customers Energy Management Solutions 72% 35% Training & Education on Products 78% Wire; Cable Cutting; Stripping** 84% 18% 13% **Distributor respondents only Top Three Inventory Management Services Electrical Contractor Commercial Industrial/Original Equipment Mfr (OEM) Electrical Contractor Residential Drop Shipping 88% Same Day Delivery Early a.m. Delivery 79% 76% E-commerce Usage Top Four Products Offered 12% *According to all distributor and manufacturer respondents Boxes, Fittings, Enclosures 85% Lamps, Lighting Controls, Lighting Fixtures, Ballasts 84% Circuit Protection Devices 82% Wire; Cable 81% INTRODUCTION The National Association of Electrical Distributors (NAED) has more than 400 distributor companies, serving nearly 5300 locations, and 208 allied and associate partners. Purpose • This report provides key information regarding sales, customers, and services as it pertains to members of the National Association on Electrical Distributors (NAED). • It was formerly published by tED Magazine as the Market Overview Report. Data • NAED member product offerings • NAED member service offerings • Key customer segments for NAED members • Key industry segments for NAED members Electrical Equipment Wholesaling Sales Trends • Industry customers by percent • Industry products by percent • Sales change 2010-13 for Full Line Distribution vs. Total Electrical Equipment Wholesaling • Full Line Distribution sales change by product line NATIONAL ASSOCIATION OF ELECTRICAL DISTRIBUTORS METHODOLOGY The NAED’s Channel Advantage Partnership (CAP) Council funded the primary and secondary research that served as a basis for this study. Secondary research included a review of reports by McGraw Hill Construction, the U.S. Department of Commerce, the National Association for Business Economics, Deloitte Insights, and others. For primary research, NAED fielded an online survey of electrical distributors and manufacturers in the winter of 2013. Over 200 respondents working in sales, marketing and other key department shared information about their experiences from the past year and their expectations for the future. Key statistics are broken out by distributor and manufacturer members. A new feature of the study is an industry market size and forecast. This data is provided by IBISWorld. To develop the total market size IBISWorld uses the North American Industry Classification System (NAICS), a standard used by Federal statistical agencies in classifying business establishments for the purpose publishing statistical data related to the U.S. business economy. This data is further analyzed using industry contacts, in-house data and economic modeling to provide a five-year revenue and profitability forecasts. The findings, opinions, conclusions and recommendations provided herein are based on independent research, commissioned and funded by the NAED Education & Research Foundation, Inc. Information in this report should not be regarded as an endorsement or opinion of the Foundation or its parent organization, National Association of Electrical Distributors, Inc. NATIONAL ASSOCIATION OF ELECTRICAL DISTRIBUTORS How do you feel the following items may impact the profitiability of your company in 2014 compared to 2013?* Health-care Costs Outside Competition for Sales 7% 19% Taxes 4% 10% 46% 75% 44% 44% Negatively E-commerce by Consumers 51% About the Same Positively Technology Investments Staffing, Hiring, Retention (i.e. automation) 11% 12% 36% 52 35% % Negatively 16% 28% 53% About the Same 56% Positively * % of all respondents: distributors & manufacturers How do you feel the following items may impact the profitiability of your company in 2014 compared to 2013?* [continued] Negatively 22 % 57 % 11% 68% About the Same 18% Positively 31% 41% 62% 53% 48% 21% 21% 21% IT Development Costs Financing/Cash Flow Costs of Goods Sold 16% Energy Costs 10% Cost of Fuel * % of all respondents: distributors & manufacturers REPORT FINDINGS DISTRIBUTORS Who Are Our Customers?* Average % of customer segments for NAED distributor members 36% 18% Electrical contractors Commercial Industrial/Original Equipment Mfr (OEM) 14% Electrical contractors Residential 6% 6% 5% 5% 4% Electrical contractors Other Commercial facilities Hotels; Hospitals; Schools; Malls; Office Bldgs Government Utility *These results are based on the average percentage of distributors reporting customers of each type; they will not total 100%. 2% 2% DIY (Do-It-Yourself ) Buyers Other What Do We Sell? 96% 96% 96% 98% Circuit Protection Devices 96% Boxes, Fittings, Enclosures Lamps, Lighting Controls, Lighting Fixtures, Ballasts 83% 94% 95 % Tools, Testers or Labeling Equipment Wire; Cable Wiring Devices 94 % Industrial Control; AutomationDevices Busway/Raceway/Conduit Connection; Termination Equipment 64% 77% 85 % Fire/Smoke/Life Safety 96% Power Quality/ Stand-by Power Voice; Sound; Data 74 % Building Automation Devices 63% VDV/Low Voltage Products % of distributor respondents offering these products & services. Inventory Services We Offer Second party warehouse close to the actual job site Delivery at night to a secure container on the job site 24% 27% Bin storage at the distributor’s warehouse for products specific to the customer 53% On-site containers for storing distributors inventory at customer location 54% Kitting or assembly services Vendor Managed Inventory or Automatic reordering Emergency delivery within two hours Early morning delivery Same day delivery Drop shipping % of distributors respondents offering these products and services 59% 60% 74% 86% 92% 95% Services We Offer* 84% 78% 72% 71% 63% 61% 51% 28% 20% 15% Credit Management DIN Rail Assembly 11% Power Cord Modification; Termination % of distributors offering these products & services Wire; Cable Cutting; Stripping Energy Management Solutions Consulting Services or Technical Support Training & Education on Products Special Orders Customized Packaging Repair, Return, Support Services Business Information Modeling What Kind of Green Products Do You Provide? 87% Energy management/ Green technology products % of distributors offering these products 42% Solar energy 39% Electric vehicle supply equipment 13% Wind energy Energy Services We Offer Lighting Efficiency Solutions Energy/Sustainability Solutions Energy Audits 99% 83% 91% Building Efficiency Solutions ESCO Services or Partnership 83% 40% Currently offer % of distributors offering these services Do not currently offer Energy Service Plans for the Future Energy Audits 5% Lighting Efficiency % Solutions 1 Energy/Sustainability Solutions 9% ESCO Services or Partnership 22% 1% Building Efficiency Solutions 14% Do not currently offer, but plan to in the future % of distributor respondents 1% Currently offer, but plan to discontinue FULL-LINE ELECTRICAL DISTRIBUTION SALES 2013 Full-Line Electrical Distribution Market Share Full-Line Electrical Distribution 63 billion Other Distributors 81 billion Total Electrical Equipment Wholesaling Full-Line Electrical $143.7 $62.9 2010-2011 year-year change 5.1% 10.3% 2011-2012 year-year change -1.4% 4.6% 3.8% 2.3% 2013 Sales 2012-2013 year-year change Source: Epicor Vista Information Services and IBISWorld 1 2 1 Source: Epicor Vista Information Services, 2/2014. For the purposes of this report, a full line distributor is one that carries all types of electrical products. This compares to specialty distributors that only carry one type of electrical product i.e., a lighting distributor or an industrial distributor. 2 Source: IBISWorld calculated the total Electrical Equipment Wholesaling Market size based on government defined NAICS data as of February 2014. This report covers NAICS category, 423610 Electrical Apparatus and Equipment, Wiring Supplies, and Related Equipment Merchant Wholesalers. For more information about NAICS, see the Appendix. Full-Line Electrical Distribution Product Sales Change 2012-2013 Ballasts -3.92% Batteries -2.53% 6.45% Boxes Breakers & Load Centers 3.91% Cable Ties 4.75% 4.39% Conduit & Cable Fittings Connectors 4.15% Dimmer Switches 2.31% Floor Boxes 9.4% 1.91% Fuses 4.24% Hand Tools .2% Lamps Occupancy Sensors -3.13% Poke Thrus Receptacles 3.9% -20.14% Select Box Covers 3.72% Select Light Fixtures Select Wire & Cable 5.8% -3.24% Switch Gear .62% Test Tools Timers 3.38% -2% Wire Connectors Wire Terminals 5.67% -.47% Source: Epicor Vista Sales IBISWORLD INDUSTRY FORECAST Electrical Equipment Wholesaling Market Size & Forecast (2/2014)1 1 IBISWorld. (2014). Electrical Equipment Wholesailing in the US Industry Report. New York: IBISWorld. Total Electrical Equipment Wholesaling Revenue Revenue Annual Growth 09-14 Annual Growth 14-19 2014-18 Revenue Forecast Profit Wages Businesses $151.2 billion 5.0% Based on NAICS defined market. See Appendix for detailed market defintion $7.0 bn $12.4 bn 4.6% 7,986 200 180 170 180 157 166 151 160 144 138 140 126 133 135 118 118 120 140 134 114 100 80 Key External Drivers 60 Demand from building, developing and general contracting 40 Electric power consumption Demand from manufacturing 20 Housing starts 0 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 Products & Services Segmentation 6% 14 % Switchgear & switchboard apparatus Lighting Fixtures 35 % 6% Relay and industrial controls Motors & generators 11% Power & distribution transformers $151.2 billion 7% Total Electrical Equipment Wholesaling Revenue Based on NAICS defined market. See Appendix for detailed market defintion. This chart shows the size of the products or services that industry operators sell. It is based on the proportion of revenue each product or service segment contributes to total industry revenue. 21% Other Wiring Source: IBISWorld Major Market Segmentation This chart shows the size of the markets that buy the industry’s products or use its services. It is based on the proportion of revenue each buying segment contributes to total industry revenue. $151.2 billion 44% Industrial Users 34% Total Electrical Equipment Wholesaling Revenue Construction Based on NAICS defined market. See Appendix for detailed market defintion. Commercial, institutional and governmental Private and Public Power Utilities 12% 10% Source: IBISWorld Industry Forecast: What the Experts Are Saying 2014 Economic Outlook (Data as of 1/15/2014) The economy continues to grow at a moderate 2.0 percent underlying rate, and circumstances continue to point to an acceleration of growth in the medium term. -D. D. Bachmann, Deloitte1 Outlook on Housing Starts [Single Family Housing] rising for now, but tight credit, demographic shifts may limit increase. [Multifamily housing] upturn should last into and maybe through 2014. -K. Simonson, Assoc. Contractors…6 Real GDP is expected to expand at a slightly higher rate in 2013 than previously forecast, and to accelerate in 2014... The growth rate is expected to increase to 2.8% in 2014 (Q4/Q4), slightly lower than the 3% rate predicted in the previous survey. -National Association for Business Economics2 Housing starts increased about 17 percent to 913,000 units in 2013 and are forecast to increase 25 percent to 1,140,000 units in 2014 and 29 percent to 1,475,000 units in 2015. In 2016 to 2018, housing starts will increase 3 percent a year and average 1,616,000 units.” -Daniel J. Mecksroth, P., MAPI7 Total housing starts are expected to grow 21% in 2013 followed by 19% in 2014 that will bring starts to 1.150 million units – double the 2009 trough and the first time they have exceeded a million since 2007. -2014 Dodge Construction Outlook4 Electrical Equipment Wholesaling Outlook Additionally, as manufacturers continue to recover and shift to automated systems, demand from manufacturing facilities will spur growth for relay industrial controls, the largest product segment in the industry. As a result, revenue for the Electrical Equipment Wholesaling industry is projected to grow at an average annual rate of 4.6% to $179.6 billion in the five years to 2018. -IBISWorld3 Construction Outlook [In 2014] it’s forecast that total construction starts will climb 9% to $555 billion, a bit faster than 2013 although still at a measured clip. -2014 Dodge Construction Outlook4 According to ABC’s model, next year’s growth segments include commercial construction (about 5 percent), health care (nearly 7 percent), lodging (8 percent), communications (5 percent to 6 percent) and manufacturing (3 percent to 4 percent). -Associated Builders and Contractors5 Green Technology Outlook For stores and offices combined, McGraw Hill Construction estimates that the share of construction starts that are green projects ... In 2014 … is expected to grow to between 44% and 46%. -2014 Dodge Construction Outlook4 In 2014, the green building industry will be focusing on retrofitting existing building components to fit standards... Yudelson estimates that more than 500 existing federal buildings will attempt to achieve green building certification in 2014. -Dakota Software8 1 Bachman, D. D. (2013). United States Economic Forecast. New York: Deloitte University Press. 2 National Association for Business Economics. (2013, 12). NABE Outlook December 2013. Retrieved 1 17, 2014, from http://nabe.com/nabe_outlook_dec_2013 3 IBISWorld. (2/2014). Electrical Equipment Wholesaling in the US Industry Report. New York: IBISWorld. 4 Murray, R. (2013). 2014 Dodge Construction Outlook. New York: McGraw Hill Construction. 5 Associated Builders and Contractor . (2013, 11 20). ABC Forecasts Nonresidential Construction Spending Will Increase in 2014. Retrieved 12 10, 2013, from for constructionpros.com: http://www.forconstructionpros.com/press_release/11240505/abc-forecasts-nonresidential-construction-spending-will-increase-in-2014 6 Simonson, K. (2013). Construction Spending Labor & Materials Outlook. Arlington: Associated Contractors of America. 7 Daniel J. Mecksroth, P. (2013, December 16). mapi.net. Retrieved December 23, 2013, from Manufacturers Alliance for Productivity and Innovation (MAPI) : https://www.mapi.net/ research/publications/us-industrial-outlook-december-2013 8 Dakota Software . (2013, 12 18). Green building retrofitting a major trend in 2014. Retrieved 1 17, 2014, from dakotasoft.com: http://www.dakotasoft.com/blog/2013/12/greenbuilding-retrofitting-a-major-trend-in-2014 NATIONAL ASSOCIATION OF ELECTRICAL DISTRIBUTORS REPORT FINDINGS MANUFACTURERS Which of the Following Products Do You Currently Offer? Boxes, Fittings, Enclosures 30% Building Automation Devices 15% Busway; Raceway; Conduit 17% Circuit Protection Devices 19% Connection & Termination Equipment Electrical Signs 15% 2% 9% Fire/Smoke/Life Safety 8% Heating & Air Conditioning Industrial Control & Automation Devices 23% Lamps, Lighting Controls, Lighting Fixtures, Ballasts 34% 15% Other Plumbing 2% Power Quality/Stand-by Power 21% Private Label 6% Security Devices 4% Sound Entertainment 4% Tools, Testers, or Labeling Equipment 11% Utility Products 26% VDV/Low Voltage Products Voice, Sound & Data 13% 11% Wire & Cable Wiring Devices % of manufacturer respondents offering these products 15% 13% Inventory Services We Offer 55% Drop shipping 28% Early a.m. delivery 28% 26% Kitting or assembly services None of the above 21% 21% 19% 6% Vendor managed inventory or automatic ordering Same-day delivery Second party warehouse close to jobsite Emergency delivery 4% 4% 4% 2% On-site containers for storing distributors’ inventory Bin storage at the distributor’s warehouse Delivery at night to a secure container Other % of manufacturer respondents offering these products What Kind of Energy Products Do You Provide? 25% Energy management/ Green technology products % of manufacturers offering these products 13% Solar energy 9% Electric vehicle supply equipment 11% Wind energy APPENDIX Appendix I –Electrical Equipment Wholesaling Key Financial Statistics1 Forecast Year Revenue ($m) Establishments (Units) Enterprises (Units) Employment (Units) Wages ($m) Unit sales (Million kw hours) 2005 118,352 12,273 7,715 161,568 10,686 4 2006 126,146 12,282 7,626 170,594 11,265 4 2007 134,849 12,784 7,857 160,759 10,713 4 2008 134,311 13,403 7,948 184,366 12,313 4 2009 118,330 13,042 7,759 176,851 11,240 4 2010 133,467 12,936 7,683 163,665 11,081 4 2011 140,317 13,080 7,722 168,335 11,504 4 2012 138,414 13,116 7,725 168,497 11,466 4 2013 143,722 13,305 7,821 172,073 11,793 4 2014 151,183 13,695 7,986 179,284 12,372 4 2015 156,859 13,897 7,963 183,958 12,769 4 2016 165,979 14,287 7,871 191,019 13,384 4 2017 170,110 14,544 7,698 195,524 13,736 4 2018 179,624 14,941 7,732 204,210 14,455 4 2019 189,531 15,293 7,716 212,897 15,186 4 NATIONAL ASSOCIATION OF ELECTRICAL DISTRIBUTORS 1 IBISWorld. (2/2014). Electrical Equipment Wholesaling in the US Industry Report. New York: IBISWorld. www.naed.org/research Appendix II – Introduction to NAICS Electrical Equipment Wholesaling Industry1,2 • The market size in the Electrical Equipment Wholesaling Market Size and Forecast section of this report is based on the North American Industry Classification System (NAICS). NAICS is the standard used by Federal statistical agencies in classifying business establishments for the purpose of collecting, analyzing, and publishing statistical data related to the U.S. business economy. • This report covers NAICS category, 423610 Electrical Apparatus and Equipment, Wiring Supplies, and Related Equipment Merchant Wholesalers. • The industry comprises establishments primarily engaged in the merchant wholesale distribution of electrical construction materials; wiring supplies; electric light fixtures; light bulbs; and/or electrical power equipment for the generation, transmission, distribution, or control of electric energy. • The next slide shows a complete list of products covered in this market size and forecast. 1 North American Industry Classification System. (2013, September 13). Retrieved January 22, 2014, from census.gov: http://www.census.gov/eos/www/naics/ 2 NAICS Association. (2014, January 22). 423610 Electrical Apparatus and Equipment, Wiring Supplies, and Related Equipment Merchant Wholesalers . Retrieved January 22, 2014, from naics.com: http://www.naics.com/censusfiles/ND423610.HTM NATIONAL ASSOCIATION OF ELECTRICAL DISTRIBUTORS www.naed.org/research Appendix III – NAICS Electrical Equipment Wholesaling Industry Definition1,2 • Alarm apparatus, electric, merchant wholesalers • Lugs and connectors, electrical, merchant wholesalers • Batteries (except automotive) merchant wholesalers • Meters, electrical, merchant wholesalers • Circuit breakers merchant wholesalers • Motor controls, electric, merchant wholesalers • Coaxial cable merchant wholesalers • Motors, electric, merchant wholesalers • Construction materials, electrical, merchant wholesalers • Panel boards, electric power distribution, merchant wholesalers • Current-carrying wiring devices merchant wholesalers • Pole line hardware merchant wholesalers • Distribution equipment, electrical, merchant wholesalers • Power transmission equipment, electrical, merchant wholesalers • Electric light fixtures merchant wholesalers • Receptacles, electrical, merchant wholesalers • Electric motors, wiring supplies, and lighting fixtures merchant wholesalers • Regulators, voltage (except motor vehicle), merchant wholesalers • Fixtures, electric lighting, merchant wholesalers • Security systems merchant wholesalers • Flashlights merchant wholesalers • Fuses, electric, merchant wholesalers • Generators, electrical (except motor vehicle), merchant wholesalers • Hardware, transmission pole and line, merchant wholesalers • Industrial controls, electrical, merchant wholesalers • Insulated wire or cable merchant wholesalers • Insulators, electrical, merchant wholesalers • Light bulbs merchant wholesalers • Lighting fixtures, electric, merchant wholesalers • Relays merchant wholesalers • Signal systems and devices merchant wholesalers • Storage batteries (except automotive) merchant wholesalers • Switchboards, electrical distribution, merchant wholesalers • Switches, electrical, merchant wholesalers • Transformers (except electronic) merchant wholesalers • Transmission equipment, electrical, merchant wholesalers • Voltage regulators (except motor vehicle) merchant wholesalers • Wire, insulated, merchant wholesalers • Wiring supplies merchant wholesalers 1 North American Industry Classification System. (2013, September 13). Retrieved January 22, 2014, from census.gov: http://www.census.gov/eos/www/naics/ 2 NAICS Association. (2014, January 22). 423610 Electrical Apparatus and Equipment, Wiring Supplies, and Related Equipment Merchant Wholesalers . Retrieved January 22, 2014, from naics.com: http://www.naics.com/censusfiles/ND423610.HTM NATIONAL ASSOCIATION OF ELECTRICAL DISTRIBUTORS www.naed.org/research Appendix IV – Frequently Asked Questions about NAICS1 What is an establishment? An establishment is generally a single physical location where business is conducted or where services or industrial operations are performed (e.g., factory, mill, store, hotel, movie theater, mine, farm, airline terminal, sales office, warehouse, or central administrative office). An enterprise, on the other hand, may consist of more than one location performing the same or different types of economic activities. Each establishment of that enterprise is assigned a NAICS code based on its own primary business activity. What is a “primary business activity?” Ideally, the primary business activity of an establishment is determined by relative share of production costs and/or capital investment. In practice, other variables, such as revenue, value of shipments, or employment, are used as proxies. The Census Bureau generally uses revenue or value of shipments to determine an establishment’s primary business activity. Who assigns NAICS codes to businesses and how? There is no central government agency with the role of assigning, monitoring, or approving NAICS codes for establishments. Individual establishments are assigned NAICS codes by various agencies for various purposes using a variety of methods. The U.S. Census Bureau has no formal role as an arbitrator of NAICS classification. The U.S. Census Bureau assigns one NAICS code to each establishment based on its primary activity (generally the activity that generates the most revenue for the establishment) to collect, tabulate, analyze, and disseminate statistical data describing the economy of the United States. Generally, the U.S. Census Bureau’s NAICS classification codes are derived from information that the business establishment provided on surveys, census forms, or administrative records. Various other government agencies, trade associations, and regulation boards adopted the NAICS classification system to assign codes to their own lists of establishments for their own programmatic needs. If you question the NAICS code contained on a form received from an agency other than the U.S. Census Bureau, you should contact that agency directly. Can a business have more than one NAICS code? In the process of collecting, tabulating, presenting, and analyzing statistical data, the U.S. Census Bureau assigns and maintains only one NAICS code for each establishment based on its primary activity (generally the activity that generates the most revenue for the establishment). NATIONAL ASSOCIATION OF ELECTRICAL DISTRIBUTORS 1 North American Industry Classification System. United States Census Bureau. www.naed.org/research Appendix V: Survey Demographics NAED Region Manufacturer Survey Respondents Distributor Number of Employees in Your Company (including headquarters and branches) 7% 7% 12% 37% 19% 11% 7% <25 25-49 50-99 100-499 500-999 1000-4999 >5000 Survey Demographics [continued] Number of Branches in Your Company 31% 1-5 24% Occupation 6-15 28% 16-50 Automation; Control Sales Engineers 51-100 5% Accounting 12% Vendor/Channel Relations >100 Operations Other Annual Revenue (including headquarters and branches) Purchasing Regional Manager 6% 11% 14% <$10m $10-25m $25-50m 12% 31% 26% General Manager Marketing Branch Manager Owner/President Sales Management Sales 0% 5% 10% 15% 20% $50-100m $100-400m >$400m ACKNOWLEDGMENTS We would like to thank all of the NAED members who offered their insights throughout the research process. We are grateful to the companies who have contributed to the Channel Advantage Partnership endowment fund for their ongoing support of The NAED Education & Research Foundation’s research and educational initiatives. We are indebted to all volunteers for their participation, survey responses, and interviews on behalf of this research. Channel Advantage Partnership Charles A. Collat, Jr., Mayer Electric Supply Co., Inc. Warren Janes, Jr., Maurice Electrical Supply Co./USESI Rick L. Angel, Lutron Electronics Co., Inc. Robert Crawford, United Electric Supply Co., Inc. John Kimmel, Lithonia Lighting, An Acuity Brands, Inc. Co. William Elliott, Elliott Electric Supply Tim Klei, HD Supply Power Solutions, Ltd. Steven Anixter, Advance Electrical Supply Co., Inc. Gary D. Arnott, GE Energy Management Steven P. Bellwoar, Colonial Electric Supply Co., Inc. Randy Germeraad, Springfield Electric Supply Company Ralph Harris, Schneider Electric W. Robert Murphy, Hubbell Incorporated Martin U. Ranly, Kendall Electric, Inc. Bill Kuempel, Butler Supply, Inc. Todd Kumm, Dakota Supply Group James K. Risk, III, Kirby Risk Electrical Supply John Selldorff, Legrand Christopher P. Hartmann, Rexel Holdings USA (Rexel/ Gexpro) Peter R. Lemman, North Coast Electric Company Jay Bricker, Sonepar USA Jim Hibberd, Gexpro Timothy J. Lesch, OSRAM SYLVANIA Inc. Ned Camuti, Thomas & Betts Corporation R. Lee Hite, The Hite Company Kathleen M. Mazzarella, Graybar Mark Carter, Fluke Corporation Joe Huffman, Consolidated Electrical Distributors, Inc. Paul J. McCool, Revere Electric Supply Co. Thomas E. Isenberg, Western Extralite Co. Geoffrey Lange Murphy, Philips Lighting Mark Reinders, Eaton Corporation Christopher P. Breslin, Crescent Electric Supply Company Matthew Cleary, Eaton Corporation Tammy Miller, Border States Electric Jack McNaughton, McNaughton-McKay Electric Company John Spoor, State Electric Supply Co. Charles M. Steiner, Steiner Family Entities Jim Vanden Hoek, Siemens Industry, Inc. Channel Advantage Partnership Associates Kathleen Ellison, B&K Power To Solve C. Chester Lehmann, III, Electrical Distributors Co. Mike Lockard, Hunzicker Brothers, Inc. William J. Morlan, Electric Supply, Inc. Sandra Rosecrans, City Electric Company, Inc. Jeff Stroud, Electrical Engineering & Equipment Co. Report prepared by NAED researcher, Aqila Teen. Bernard T. Westapher, Panduit Corp. WESCO Distribution NATIONAL ASSOCIATION OF ELECTRICAL DISTRIBUTORS