Elevator OEMs are Focusing on Digitizing their Genuine Parts Business to Adapt to Decreasing New Equipment Sales
The elevator industry is a cornerstone of modern infrastructure that significantly impacts our daily lives. For Original Equipment Manufacturers (OEMs) in this sector, maintaining the reliability and longevity of the installed base is paramount to long-term success. The business model has historically relied on the sale of new equipment, but more leaders in the industry have been reporting a shift over the last several years.
Many OEMs in the elevator industry have experienced a notable deceleration in new equipment sales while simultaneously observing a significant and growing increase in service and parts revenue. The shift means that the services business, particularly the sale of genuine spare parts, is no longer supplementary to the core business. They are increasingly becoming the bedrock of sustainable growth and profitability that demands a new level of strategic focus and operational excellence.
The evolving market dynamic brings a heightened sense of urgency. The complexity of elevator systems, ranging from intricate electronic controllers to specialized mechanical components for various models and vintages, translates into a vast and challenging spare parts inventory. Add to this the constant hurdles of managing obsolescence and the formidable competition from third-party aftermarket providers, and the traditional methods of parts identification and sales fall short.
These legacy approaches often rely on cumbersome print catalogs, static PDF documents, or digital catalogs that require end users to know the exact part numbers. Whether your users are end customers, direct sales representatives, repair technicians, or authorized distributors, identifying the right parts to procure for elevator repairs can be a cumbersome task. Without the right parts management and identification solution, users will experience frustrating delays and inaccurate orders that ultimately cause significant leakage of potential genuine spare part sales to competitors.
To counteract these challenges and capitalize on the genuine growth opportunity in part sales, forward-thinking elevator OEMs are making a decisive move. They are rapidly abandoning outdated methods in favor of digitizing with dynamic 2D and 3D visualization, interactive parts catalogs. The initiatives are not just an upgrade; they’re a strategic imperative designed to address critical pain points, streamline operations, and drive a substantial increase in genuine spare part sales.
Here are Three Reasons Why Elevator OEMs are Digitizing Their Spare Parts Catalogs with 2D and 3D Visuals
1.) Eliminates Costly Errors and Ensures Fast Genuine Part Identification and Procurement
One of the most persistent and costly issues with traditional parts catalogs is the high rate of error in part identification. Given the inherent complexity and the vast number of components within an elevator system, each of which possesses unique specifications and often subtle variations, a misidentified part can lead to significant consequences, including extended downtime, repeated service calls, and substantial financial impacts. When frustrated by the difficulties in finding the right genuine part to procure, customers may opt for third-party, non-genuine alternatives that promise quicker, albeit potentially lower-quality, solutions, which directly impact your revenue.
Interactive 2D and 3D spare part catalogs fundamentally resolve these challenges by leveraging existing CAD assets to create highly detailed and accurate, visually interactive models of every component and part of an assembly. Users can visually navigate complex systems and click directly on a specific part to generate an exploded view, which allows them to instantly retrieve the correct part number, detailed description, availability, and pricing information. The experience eliminates guesswork, provides unparalleled visual clarity, and drastically reduces the incidence of incorrect orders by giving users confidence that they have identified the exact part they need to purchase.
2.) Provides a Seamless Self-Service Experience for Customers and Technicians that Increases Sales and Customer Satisfaction
Our personal purchasing experiences are increasingly defined by digital convenience, which in turn influences how customers and service technicians expect instant access to information and intuitive self-service capabilities when procuring your genuine spare parts. Traditional parts catalogs and purchasing processes fall woefully short of modern expectations. For many, the parts procurement process necessitates time-consuming phone calls, form submissions, emails, and multiple tiers of support teams for basic part identification. The friction not only frustrates end-users but also imposes an unnecessary expense and time burden on OEMs’ support staff, ultimately eroding the high margins typically associated with your spare parts business.
Interactive 2D and 3D part catalogs provide a vastly superior user experience that mirrors the seamless and intuitive design of leading e-commerce platforms. By providing a robust and intuitive self-service capability, you empower customers and field technicians to quickly and confidently identify and order genuine parts independent of lengthy processes. Building a B2C-like experience dramatically enhances customer satisfaction, reduces the volume of routine inquiries to your support teams, and solidifies your position as the easiest and most reliable source for genuine spare parts. In a market where service and parts revenue are increasingly vital, a frictionless parts procurement experience is paramount to securing and growing your service business.
3.) Maximizes Genuine Spare Part Revenue and Profitability
For elevator OEMs, the aftermarket is driven significantly by genuine spare part sales that represent a substantial and highly profitable revenue stream. However, traditional catalogs and part procurement processes often create vulnerabilities that allow third-party aftermarket suppliers to erode this crucial business. When genuine parts are difficult to identify or order, the urgent need to minimize downtime may drive them to alternative suppliers who offer quicker, simpler procurement, even if it means compromising on quality or long-term reliability.
A poor procurement process directly undermines the OEM’s efforts to capitalize on the increasing share of revenue from services and parts.
Interactive 2D and 3D spare parts catalogs embedded through ecommerce or online customer portals are a direct countermeasure to revenue leakage. Digital interactive parts catalogs are designed to maximize genuine spare part sales organically by providing users with the means to quickly identify and purchase replacement parts, thereby boosting conversion rates, reinforcing brand value, and supporting the service cycle of your products.
Embrace Interactive 2D and 3D Parts Catalogs to Future-Proof Your Genuine Parts Business
The shift to interactive 2D and 3D parts catalogs is not merely an operational improvement for elevator manufacturers; it is a strategic advantage. It should be a definitive response to the evolving market dynamics where slowing new equipment sales amplify the criticality of aftermarket service and spare parts revenue.
By investing in cutting-edge visual solutions, your genuine parts business not only modernizes operations but also makes a direct and impactful investment for the sustainable growth of highly profitable genuine spare part sales. As the elevator industry progresses through its digital transformation, OEMs that strategically embrace the power of interactive 2D and 3D visuals will undoubtedly be the ones that see their post-sale revenue ascend to new, profitable heights.
CDS Partable enables elevator manufacturers to utilize their existing CAD assets, regardless of model size, to build and deliver AI-powered 2D or 3D interactive product catalogs for any users on any channel. By enabling customers, technicians, and authorized partners to identify parts, Partable helps streamline the procurement process, driving more genuine spare part sales and delivering better service to your customers.
If you would like to learn more or see a demo, we are here to help!
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