> ERA Quick Connections — May 2024, Vol. 1
May 2024, Volume 1
MANUFACTURING DATA REPORTS
Manufacturing data reports from the Institute for Supply Management (ISM) are released at the beginning of every month and can be accessed at ISM. The latest report says economic activity in the manufacturing sector contracted in April after one month of expansion, following 16 consecutive months of contraction.
Yet, the electrical equipment, appliances and components sector still reported growth in April. Read the full report.
INDUSTRY NEWS
> Important update from ERA legal partner SFBBG: On April 23, 2024, the Federal Trade Commission (FTC) adopted its long-awaited final “Non-Compete Rule,” (the “final rule”) imposing a comprehensive ban on the use of new non-compete agreements with all workers, including senior executives. The final rule covers all types of businesses across nearly all economic sectors, except to employers not subject to the FTC’s jurisdiction, including certain financial institutions, common carriers and air carriers, and certain non-profit organizations.” Read more.
> The Federal Reserve held its key interest rate steady again last week and gave no signal that it plans to lower it anytime soon, following a resurgence of inflation early this year. Read more.
> This morning, Apple unveiled M4, its next-generation chip. Built with the 3 nanometer chip architecture, M4 is the first Apple chip to be built for AI from the ground up. M4 is the chip that powers the new generation iPad Pro and will soon be inside Macs. Read more.
INDUSTRY TRENDS SURVEY
The May ERA Electronics Components Industry Trends survey is now in your inbox! Check your inbox and fill out the survey today.
Please note: ERA sends this survey monthly to one contact from each ERA member firm via email. Please be on the lookout for this survey in your email inbox. The email will come from no-reply@mail.client.edgewaterresearch.com. If you have questions about who the survey contact is for your organization, or would like to change this contact, please email Edgewater Research.
Help us make this survey a valuable resource for you and the rest of our members by taking 5 minutes to complete this each month. The results are visible only to ERA members and gives us a great cross-section of what our members see on the horizon for the near and long term.
VIEW SURVEY RESULTS
ERA NEWS
> Mark your calendars! The All-Industry Kickoff Reception returns for EDS 2024, on Tuesday, May 21, 4:00–5:30 p.m. in the Lily Ballroom. This year’s kickoff reception will feature networking, photo opportunities, an open bar and delicious food. You’ll have a chance to take home the hottest electronics in our famous raffle — but you have to be there to win!
We’ve moved up the start time this year, so stop by before attending your other Tuesday evening events.
> Mark your calendars for the next ERA LIVE, taking place Wednesday, May 15, where ERA Legal Counsel and SFBBG attorneys Adam Glazer and Leonard Gambino will give an overview of the updated rep-manufacturer contract agreement that will be introduced shortly for ERA rep members!
Reps, learn the nuances of the updated rep agreement template and how to advocate for issues that are important to you. Manufacturers, learn the issues that reps are concerned about today. It is a two-way communication and negotiation!
Note: This session is open to all, but it will be most valuable to reps and manufacturers.
> ERA is proud to be counted among the many exhibitors that will attend electronica 2024, a premier international electronics industry tradeshow and conference in Munich that will bring together companies from more than 50 countries, from Nov. 12-15.
ERA’s goals when attending electronica are: to advocate for ERA’s North American members who are looking for representation and/or channel solutions in Europe; and to provide information about the North American rep model to manufacturers in EMEA who are interested in rep coverage and/or channel partners in North America.
Please plan to visit the ERA booth (booth information TBA) to say hello, charge your electronics and use ERA’s private WI-FI to remain in touch with your customers. Read more about the event at electronica.de/en/trade-fair. See you in Munich!
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> ERA is ready to see you all at the EDS Summit in one month at Resorts World in Las Vegas! ERA’s Business and Hospitality Center will be located in the EDS Connections Cafe, which will be in the Lily Ballroom, Level Two at Resorts World. Make ERA your first stop to pick up your ERA Member ribbon, say hello to colleagues and ERA staff, and pick up an EDS Lines Available Bulletin. Use the ERA Business Center for small meetings, refreshments, networking and recharge time!
> Manufacturers: Submit your entry for the 2024 EDS Lines Available bulletin to showcase your company product line to all ERA member firms and member reps visiting the ERA Business and Hospitality Center at the EDS Summit. (Note: You do not need to attend EDS to be included in the Lines Available bulletin.)
RA Manufacturers’ Rep Toolkit has been updated with the latest resources and has a brand new look!
> ERA is now accepting reservations for ad space in the Spring 2024 issue of The Representor! This issue will be bonus-distributed at the 2024 EDS Summit and will feature a special EDS advertising insert in the middle of the magazine. ERA is once again offering special discounted ad rates for this EDS special section for members! 
The Electronics Representatives Association (ERA) White Pin Group announces that Zach DeVillers, CPMR, CSP, of Brainard-Nielsen Marketing is the 2023 recipient of the Jess Spoonts ERA White Pin Scholarship Award. DeVillers will receive a $1,000 grant that can be used to fund continuing education as a professional manufacturers’ representative.
The Electronics Representatives Association (ERA) is pleased to announce that Bryan White, CPMR, president, Catalyst Unity Solutions, is the 17th recipient of the Ray Hall Spirit of ERA Award.
> What gets measured, gets done
EXECUTIVE COMMENTARY
Walter Tobin, ERA CEO
by Walter E. Tobin, ERA CEO
So, here we all are in our new and different venue at EDS — Resorts World! It is such a wonderful property, shiny and bright, with plenty of outside light and windows — a rarity in Vegas, I am told, where there are typically almost no clocks or windows to let folks know the time of day.
Our attendees cannot be fooled. They all know the day/hour/minute of their time at EDS. The investment in both time and treasure that each attendee makes to participate at EDS makes it critical that every second is productive.
Many of you had been asking for EDS to look at a new venue after several years at the Mirage. Even though this new venue was dropped into our laps late in the game, we will all be pleasantly surprised at the newness and freshness of the venue; more restaurants, more places for breakfast/lunch, a Starbucks…and windows!
When EDS Show Management was informed that the Mirage was not able to accommodate our 3,000-plus attendees, it sprang into action and sought out another property that could accommodate us in an unheard-of lead time of 90 days! Most conferences like EDS are booked 2-3 years out into the future. Your EDS team was able to find and contract with Resorts World in 45 days!
Some of us may have run into a few logistical issues as EDS Show Management helped the Resorts World property navigate their way into managing EDS. Our show has some unique nuances: the need of suites for meetings; finding hotel rooms for 3,000 attendees, providing security for the show, helping our attendees with lunch and dinner reservations and last-minute requests due to the fast pace of EDS.
I applaud both EDS Show Management and Resorts World for making EDS 2024 a reality! We are truly lucky to even have EDS this year due to the short timelines and huge logistics required to put on this great show.
I expect that there may still be a few “learning curve” issues while here. Let’s all try to be a bit patient with both EDS Show Management and Resorts World. A new venue will always mean some challenges — but let us help them so they can help us.
Here are some of my takeaways from the annual ERA Conference held in Austin on Feb 25–27:
• The thirst for knowledge from our attendees remains insatiable! We had a total of 14 hours of educational content at our general sessions and unique breakout sessions over two days and, based on the results of the post-conference survey, they wanted more!
• The economic climate remains somewhat uncertain with excess inventory rapidly coming down, and a hopeful return to a positive book-to-bill ratio. However, our attendees remain bullish on the overall electronics segment asking: “What other industry would you rather be in? None!”
• Finding, interviewing, hiring, onboarding and keeping early-career individuals remains a high priority with all of our company attendees. We must continue to “restock the pond” in order to have our companies remain viable in the future.
• Artificial intelligence—boy, did we talk about AI! There were two sold-out sessions on AI. Our attendees just cannot get enough of it. Now, all of us need to learn how to use it to grow our businesses and remain ahead of our competition.
• Data. We are swimming in data. But what good is it if it is not current and in a usable format? How can we use the reams of data in NBOs, POS, leads and quotes to monitor and drive our companies?
• Our procurement and engineering customers have changed forever! But have we? Do we know how they want us to interact with them versus how we want to interface with them? When all else fails, listen to the customer. They are your True North—listen to them.
• Succession plans. Does your organization have a succession plan in place? Do your employees know what it is? There was so much to absorb and all of us left Austin upbeat and perhaps better equipped to face the future. But we need to take action now on what we’ve learned. As the saying goes, “What gets measured, gets done.”
What will you be measuring at EDS and during 2024?
Inquiring minds want to know, and your manufacturers, reps, distributors, customers and employees need to hear from you. Do not make them guess. They may guess wrong and cost you a manufacturer, key employee or customer.
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