The National Association of Electrical Distributors (NAED) Education Foundation, St. Louis, is changing its name and its mission to reflect an added focus on promoting and providing research and development within the electrical industry.
The foundation will now be known as the NAED Education & Research Foundation, as chosen by its board of directors.
The new mission statement is: “The NAED Education & Research Foundation provides information and training products that create the most effective channel to the market for distributors, manufacturers, and their customers.”
“This is an important addition to the foundation’s mission,” said John Duda, foundation chairman and president of Butler Supply Inc., in Fenton, Mo. “While continuing to offer vital educational tools for distributor employees, the foundation will also help owners and managers explore the latest products, markets, issues and trends in the industry.”
The NAED Education & Research Foundation will be funding several research studies each year, which will focus initially on two primary areas: improving distributor profitability and increasing supply chain productivity. In addition, the foundation will implement initiatives that will identify, explore and analyze new markets for distributors. The foundation plans to release the topic of its first research study at the 2003 NAED Annual Meeting on May 17-21 at the Atlanta Marriott Marquis in Atlanta. The research study will be chosen by a panel of distributors and manufacturers.
NAED said it is supporting the foundation’s new direction by funding an annual grant to cover the foundation’s day-to-day operational costs, so that donations can be applied directly to research and development purposes.