RESCO is pleased to announce that the following individuals have been elected to its Board of Directors:

 

Todd Hettich, director, Northern Electric Cooperative (South Dakota)

 

Seth Syverson, general manager, Northern Plains Electric Cooperative (North Dakota)

 

Adam Tromblay, general manager, Nobles Cooperative Electric (Minnesota)

 

Tye Williams, manager, Southeast Electric Cooperative (Montana)

The four individuals were welcomed to the RESCO Board of Directors during the RESCO Annual Meeting, held Sept. 13 in Des Moines, IA. We thank them for their commitment to serve on the Board and their support of our cooperative.

Stepping down from their Board positions were Tim Thompson, CEO of Lake Region Electric Cooperative (MN); and Gary Kluthe, director of Black Hills Electric Cooperative (SD). The RESCO community recognized both individuals during the meeting.

Although not garnering the amount of press as it did just a year ago, the challenges of supply chain disruptions and higher-than-average interest rates continue to impact our economy, albeit not at the levels we’ve previously seen. Most industries and sectors of the economy are seeing a consistent drop in inflation-created price increases, while at the same time, experiencing a decline in the lead times to create and distribute some of the products they make.

From a RESCO perspective, we currently are seeing the following:

• Inflation impact on the products we distribute. While still higher than in “normal” years, the price of products continues to trend downward. We project an average price inflation rate of between 8% and 10% for this year; this compares to an annual price inflation rate of 18% that we experienced in 2022.
• Lead times. We’re also seeing a stabilization of product lead times, although there are several product categories that continue to experience longer-than-average lead times. These include transformers, underground conductor, and underground rubber goods.

While the adjustment back to typical inflation rates and supply chain operations is a welcome change, it’s important for us—as well as our members and customers—to be vigilant and precautionary, as we potentially could experience these challenges again.

As we’ve reported over the past few years, RESCO has taken steps to counter these market conditions by working with our manufacturer partners to ensure we have a reliable level of inventory and to provide our members and customers with industry-leading pricing on materials, supplies, and equipment. This focus enables us to carry a record amount of inventory—which now stands at approximately $50 million—at our seven warehouses.

Our goal is—and always has been—to ensure that our members and customers have access to the products they need, when they need them. We will continue to analyze current market and supply chain conditions, as well as forecast future conditions to assist with our purchasing and inventory activities, in our efforts to provide you with reliable inventory and very competitive pricing.

Thank you for your continued support of RESCO.

Construction continues at a brisk pace at the site of our new warehouse in Stanley, WI! These photos were taken last week by our builder, Market & Johnson, Inc.

 

 

 

Check out the latest aerial video footage of our new warehouse in Stanley, WI! Shot by our builder, Market & Johnson, on July 31, the 360-degree drone flyover video really showcases the scope of our newest facility. Once complete, the new facility will provide us with 40,000 square feet of inventory space—along with substantial outside fenced-in space. Thank you, Market & Johnson, for sharing the video with us!

To view the video, click here.

 

Interested in viewing the progress of construction at our new warehouse facility in Stanley, WI?

We’ll be sharing timelapse videos taken from a camera situated at the 15-acre site periodically until construction of the 40,000-square-foot warehouse is complete, which we anticipate will occur in early 2024.

To access the on-site camera footage for June 19 – July 16, click here.

Market & Johnson, Inc. and its team of contractors continue to make excellent progress at our new warehouse facility in Stanley, WI. Here are a few images taken this week from the construction site.

 

 

 

 

 

 

 

 

We’re making great progress at the site of our future warehouse in Stanley, WI! Once complete, the new facility will provide RESCO with 40,000 square feet of inventory space—along with substantial outside fenced-in space.

We anticipate contruction of the building to be completed by early 2024.

To view the new timelapse video of the construction site (May 22 – June 18, 2023), click here.

 

 

The expansion of our supply warehouse in Moorhead, MN, began in late May as work crews commenced the initial phases of construction.

Scheduled for completion in November, the expansion will provide an additional 15,000 square feet of storage space, allowing RESCO to house more material in a controlled environment, while at the same time improve overall operational productivity.

Once completed, the total storage space of the Moorhead warehouse will be almost 34,300 square feet.

RESCO’s Moorhead warehouse has played a vital role in the distribution of high-voltage materials, supplies, and equipment to rural electric cooperatives, municipalities, and utility companies throughout Minnesota and the Dakotas.

Great aerial footage taken on May 23, 2023, of the construction site of our new warehouse facility in Stanley, WI! Once completed (which we anticipate will be in early 2024), the facility will provide RESCO with 40,000 square feet of inventory space—along with substantial outside fenced-in space—enabling us to better serve our members and customers in Wisconsin, Minnesota, and Michigan. Sitting on 15-acres, the site also provides us with ample room to expand our operations, when needed. Thank you, Market & Johnson, Inc., for sharing the video!

To view the video, click here.