In an ongoing effort to recognize and encourage innovation in the wholesale distribution industry, UnleashWD and the National Association of Electrical Distributors (NAED) announced the opening for nominations for the 2015 Spirit of Innovation Awards.
Electrical distributors may submit their entries from now until Feb. 15, 2015 through the website: http://www.unleashwdinnovationaward.com/. Entries cost $150 to cover program costs.
“Three years ago we launched UnleashWD, the only innovation summit for distributors, and since then the NAED and I have been focused on finding the stories of innovation throughout electrical distribution,” Dirk Beveridge, Founder of UnleashWD said. We are honored to partner with NAED to recognize electrical distributors for their efforts and to promote innovation in the industry as a whole.”
Electrical distributors will be recognized from three different categories: revenues under $25 million, between $25.1-$200 million and more than $200 million. The award is open to all NAED members. Distributors may work with a supplier or a technology company to produce a submission if it is a collaborative project.
In his best selling book INNOVATE! How Successful Distributors Lead Change In Disruptive Times, Beveridge defines innovation as “Leading customers to a better future for which they are willing and capable of rewarding you.” Submissions may cover any innovation effort with special consideration granted to the following:
- Creating a culture of innovation
- Compelling & differentiating value propositions
- Business model innovation
- Transformative leadership
- Integrating the voice of the customers into the project
Judges will review submissions based on how the innovation effort transformed the organization, what new value was created and the results achieved. Since innovation works best in a fail fast environment, organizations are encouraged to submit projects that have provided a learning experience or have yet to reach fruition.
The three winning organizations will each earn two free registrations to the 2015 UnleashWD Innovation Summit, and will be recognized by tED Magazine.
“This is a great opportunity for NAED, UnleashWD and tED Magazine to work together on the Innovation Award,” Scott Costa, publisher of tED Magazine said. “We are highlighting the need for innovation in every issue of tED Magazine and in a number of stories that are posted at www.tedmag.com. The reality is innovation needs to be an ongoing process that will lead electrical distributors into a position of strength for generations to come. Your innovation can come from new business methods, how you are hiring and retaining new employees, how you are using value-added services to your advantage against the online giants, or how you are improving communications throughout the supply chain.”
tED Magazine is the official publication of the NAED. UnleashWD and the NAED became partners this year to promote innovation within the electrical distribution business.
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