By Anthony Capkun
May 27, 2016 – “We are very proud of being recognized as one of Canada’s Best Managed Companies—for 9 years!” says Tim MacDonald, Ideal Supply Co. Inc.’s president & CEO, enthusiastically. “It has helped us attract new employees, new customers and new suppliers, and has been great for morale within our company.”
Best Managed companies embrace innovation, seize opportunities and inspire talent. EBMag reached out to all of the electrical industry players* who made the grade, hoping to learn a little more about what it is they are doing right, and why the distinction of being a Best Managed company matters to them and, truly, should matter to us all.
To read the full article with all the Best Managed electrical companies, check out the Spring 2016 edition of Distribution & Supply. Meantime, back to Ideal Supply, a member of the Best Managed Platinum Club.
Founded by Franklin Zurbrigg and George McDonald (no relation to current owners), the company began in 1926 as the Ideal Manufacturing Co., a maker of bread-moulding machines. Over the years, the company changed with the times; it assembled and distributed console radios, later branching into hardware, automotive parts, paint, appliances—even toys… all sold from its headquarters in the former Grand Central Hotel in downtown Listowel, Ont.
“Each year, when we fill out the application, we need to show that we are continually improving, innovating and living up to the high standard of the Best Managed Companies program. It has definitely made Ideal Supply a better company,” Tim concludes.
Today, Ideal Supply is a third-generation, family-run business boasting 30 branch locations in southwestern Ontario, 450 employees and a 75,000-sf head office distribution centre in its hometown of Listowel. It is a member of Electro-Federation Canada and Affiliated Distributors.
“For many years we have been very disciplined about setting annual goals for each branch, sales territory and department, and making detailed plans to achieve those goals,” says Tim.
Tim explains the company created an online KPI (key performance indicator) management system that comes up on Ideal associate’s desktops every morning, showing them their KPIs as Green, Yellow or Red.
“It gives our people a real-time indication of how they are doing, and shows managers where they need to spend their time. Our company’s performance has improved steadily since implementing that system,” Tim explains.
FYI… Best Managed awards are granted on 5 levels
1. Best Managed: One of the new winners selected each year.
2. Requalified member. Repeat winners retain the Best Managed designation for two additional years, subject to annual operational and financial review.
3. Gold Standard winner. After three consecutive years of maintaining their Best Managed status, these winners have demonstrated their commitment to the program and successfully reapplied for the designation.
4. Gold Requalified member. Gold Standard winners may requalify for two additional years, subject to annual operational and financial review.
5. Platinum Club member. Winners that maintain Best Managed status for a minimum of six consecutive years.
* For the purposes of D&S specifically, we only highlighted electrical manufacturers and distributors operating in Canada.