ChatGPT was launched November 30, 2022, but went “mainstream” in Q1 2023 when Microsoft made a significant investment into OpenAI. Since then either “AI is going to take over”, “many will lose their jobs”, “it’s a great tool to use” or somewhere in-between. Further, it amplified the conversation of “what is the opportunity / future” do to AI. Over the past year there have … [Read more...] about ChatGPT Prompts to Drive HVACR Sales
Insights
Capitalize on the Data Center Boom: AI for HVAC Distributors
The data center market, as many know, continues to boom. According to recent data from the Bureau of Labor Statistics, almost 33% of the new construction office spend in May was by data centers! There are data center industry reports of 100 data centers scheduled to be built for the next 10 years ... and this may be conservative. The driver of the need for all of this … [Read more...] about Capitalize on the Data Center Boom: AI for HVAC Distributors
WATSCO digital is driving HVACR business Q2 WATSCO Results
WATSCO highlighted their continued commitment to digital enablement on July 30th in their Q2 results release The latest WATSCO digital update has been released and I eagerly await these results as they share Digital details that the entire channel can learn from. In my opinion WATSCO - has a strong strategy and continues to invest in digital and has the results to show … [Read more...] about WATSCO digital is driving HVACR business Q2 WATSCO Results
Lessons HVACR Distributors Can Learn from Wesco
For the past month, I have been writing a series of articles on Wesco for Modern Distribution Management. In the series I took a deep dive into Wesco's 3 key enterprise strategies “Extend our industry-leading scale and value proposition.” “Further develop our team and our culture of excellence.” “Digitalize and transform our B2B business.” Wesco Analysis, Pt. … [Read more...] about Lessons HVACR Distributors Can Learn from Wesco
nVent Sells Raychem, Tracer, NuHeat and Pyrotenax
Back in May it was reported that nVent was soliciting bids for its Thermal management division. News releases shared that the division’s 2023 revenues were $595 million and that it’s EBITDA was approximately $150 million, for a 25% EBITDA margin. A short three months later, it was announced last week that nVent sold the division to Brookfield Asset Management. nVent Announces … [Read more...] about nVent Sells Raychem, Tracer, NuHeat and Pyrotenax
ERP … The Heart of Your Business
There was a phrase years ago that is attributed to EF Hutton, which was a financial advisory firm that goes “when EF Hutton speaks, people listen.” The inference was that EF Hutton had a wide reach, and somewhat influence. The same goes for Epicor given how integral their Prophet 21 and Eclipse ERP platforms are for many HVACR distributors.So, when Frank Heenan, Global VP of … [Read more...] about ERP … The Heart of Your Business
Inventory Management a Foundation for Growth
As an HVACR distributor or manufacturer having strong local inventory near the end customer and where they work, is the most important factor for growth. As a long-time distributor, I know we all talk about "our people" as being the driving factor for growth, and that is true. We could not service our customers without our great people, but I have worked for distributors … [Read more...] about Inventory Management a Foundation for Growth
PHCC Connect – a Tradeshow Opportunity to Connect
Trade shows can be a great way to introduce contractors to new products, solicit voice of customer, initiate (or strengthen) relationships, network and maybe learn a thing or two. A phenom that has occurred much more so post-pandemic is distributors exhibiting at contractor tradeshows, especially regional shows. No longer is the business, "only in my backyard." Contractors … [Read more...] about PHCC Connect – a Tradeshow Opportunity to Connect
AI for Contractors … and the Channel
Manufacturers and distributors have lately been having many conversations about “technology”. But not in the conventional sense of the tools / software, more as it relates to functionality / capability for the future. They are asking "Does their IT department (which could be their ERP / software provider) have a tech roadmap that includes AI?" And sales and marketing management … [Read more...] about AI for Contractors … and the Channel
Improving Pricing and Inventory Knowledge with HARDI Certification
I believe one of the biggest challenges as distributor is managing pricing and inventory effectively because you can be handicapped by your own internal viewpoints. Your culture as a distributor is crucial to your success, but it can be limiting you in terms of new ideas and approaches in two crucial areas - Inventory and Pricing. I’ve been fortunate to work for six great … [Read more...] about Improving Pricing and Inventory Knowledge with HARDI Certification
