Facing current challenges in the HVAC industry

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The current economic situation poses considerable challenges for the HVAC industry. With a general decline in orders and increasing regulatory requirements, innovative solutions and adaptability are more in demand than ever.

The HVAC sector economy remains in negative territory in spring 2024. The main reasons for this are the slump in new construction completions with direct consequences for the order situation and product sales as well as high inflation and the associated uncertainty among many owners and builders, which is leading to delays in numerous renovation projects. Forecasts point to a further decline in investment in new builds, while a slight recovery is expected in the renovation sector. (Source: RAS, edition 06-07/2024, page 19)

What can you as a wholesaler in the HVAC industry do to meet these challenges?

  • Customer centricity through precise data: Only through excellent and consistent product data can you ensure that your customers make the best decisions and opt for your products in the long term. Good data quality always starts at the beginning of the process.

  • Integration of digital technologies: By integrating innovative technologies into your data management processes, you can improve not only planning accuracy, but also the quality of the data and its availability. 

 

 

  • Efficient product data distribution: The implementation of a centralised platform for product data distribution ensures that all sales channels always have access to up-to-date and complete information. This ensures consistency and increases customer satisfaction.

Automated processes and significant added value for your customers can only be achieved in the long term with high-quality product master data and optimised data quality. Improve your product data quality and distribution to hold your own in a challenging market environment. What other opportunities or current challenges do you see in the industry?

Do you have any questions about optimising product data quality or distribution? Then you are welcome to contact us by telephone on +49 (0) 5251 - 1614-0 or by e-mail at service(at)itek.de. We will be happy to help you. 

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