ARLINGTON, VA – Electrical distributors and manufacturers have chosen to join forces and collaboratively build their competitive advantage by supporting IDEA's Industry Data Warehouse (IDW). In the face of modern disrupting trends and growth of online retailers like Amazon, the industry has been using the IDW to work together to ensure the electrical marketplace operates on more robust, accurate, and comprehensive product content.
This united effort combats competitive pressures by leveling the playing field, providing end-users with up to date pricing and more detailed product information for buying decisions, and making distributors' and manufacturers' internal business systems more efficient and cost-effective.
Now, IDEA is honored to announce several notable industry milestones:
- IDEA has doubled its reach in the electrical industry in the past year. More than twice the number of distributors have chosen to use the IDW: 280+ distributors representing 8,700+ distributor locations are relying on the IDW data for product pricing and marketing content.
- Data Certification Program has reached 90%+ in compliance and excellence. 93% of product fields in the IDW are considered compliant, meaning that all 43 industry defined critical fields are populated, and 90% are considered excellent, meaning that the product content meets or exceeds industry standards and best practices.
- Over 80 electrical industry experts from 45 companies have been volunteering their time to contribute to the initiatives of IDEA's Industry Standards Committee and its subcommittees. This group works tirelessly to develop and maintain the electrical product data standards for North America, and also connects with their European counterpart, ETIM, to ensure that product information is standardized globally for international trade and eCommerce.
“The electrical industry has been contending with tough challenges the past few years with the digital movement, changing purchasing trends, and competitive pressures,” said Paul Molitor, President and CEO, IDEA. “Our manufacturers and distributors have stepped up to the plate to combat these challenges, and we're starting to see the results of these collaborative efforts with compliant and excellent product information, greater participation, and a more efficient supply chain.”
IDEA was created by the industry, for the industry so that distributors and manufacturers could have complete control over their information and ensure that the data they are using is accurate, detailed, and up to date. As trends and business needs continue to change, the IDEA team and more than 80 Industry Standards Committee volunteers are focused on providing the vital tools and support needed to compete, efficiently solve challenges, and position the industry for continued success.
Efforts are underway for significant upgrades for IDEA's IDW platform as well as the EDI services. If you'd like to learn more about the progress or join the team of volunteers helping with the standards development, please see IDEA at our booth at the NAED National Meeting this week. We also invite you to attend the NAED National Education Session led by Paul Molitor, President and CEO, IDEA at 10:30 am on Friday, May 5.