PORTSMOUTH, NH – Service Wire has joined 44 other manufacturers, leading electrical distributors and industry organizations such as IMARK and NAED in endorsing the NEMRA POS Minimum Reporting Standards.
While the standards were initially developed to focus on more “engineered” products that have UPC numbers, NEMRA plans to expand the POS solution to “commodities” which NEMRA defines as “commonly binned material”. Historically wire and cable have fit into the definition of commodities.
According to Chuck Oldaker, EVP and CFO for Service Wire, “We value our reps. Given our family orientation and our focus on service, we want to do what is right for our reps. POS for wire / cable manufacturers historically has been a challenge as we’re dependent on gathering the necessary information from our distributor partners. We felt it was important that our reps know we believe in the precepts of this initiative and I look forward to working with NEMRA, distributors and other wire and cable manufacturers to identify solutions that can work for all while maintaining the confidentiality that distributors rightly deserve.”
Jim Johnson, President of NEMRA, commented “On behalf of Service Wire’s reps, and all reps, we appreciate Service Wire’s support of our standards and look forward to their participation as we get ready to take the next step in gathering POS information on the all-important wire / cable segment. Many reps carry a wire / cable line and this is one of the most difficult product categories for reps to be appropriately compensated for when the product is distributed through a central or regional distribution center. Having Service Wire contribute to the defining of a more effective process is much appreciated.”
For more information on NEMRA’s POS initiative, to read the research and see which manufacturers and distributors have endorsed and adopted the standards go to: https://www.nemra.org/point-sale-initiative.
