Managing Your Dealer Inventory
Over the years, Managing Your Dealer Inventory has evolved making it a little more difficult to manage it correctly as it has become more and more important. If you are seeking tips on managing your inventory, we can help you out by giving you tips and the tools you need for success. When it comes to your inventory, it is one of the biggest things your dealership has to stay successful.
Technology for Managing Your Dealer Inventory
There are many strengths and weaknesses that can come with every inventory management process. If you have someone in charge of your inventory management, make sure they have the tools to do it right and are empowered. One of the tools you can use is technology and software to help manage your inventory. Technology not only can help pull it all together but can help keep it that way in the process. There are tons of different software programs you can use as well. Technology allows you to monitor your inventory a little easier.
This comes in handy when you need to adjust pricing on vehicles, monitor how long vehicles have been on the lot and make better decisions on what to carry to move inventory more quickly. Your inventory is not successful unless it constantly moves. The software allows for you to easily monitor how long a vehicle is on the lot so you can price to move or abolish it after no more than 30 to 45 days. Sometimes software can make you more organized as well but other times no tools can work as well.
Without Inventory Management Tools for Dealer Inventory
You should never underestimate when it comes to Managing Your Dealer Inventory. If you are not using an inventory management tool, this can create some headaches but the most important thing to remember is inventory turn. Some dealers hold on to vehicles for close to 60 days and that is far too long. Your goal should be turning inventory within 30 days and no more than 45 but that can be pushing it. If things start to get out of control, it might be time to reevaluate getting management tools.
Overall, these tips and suggestions can help when it comes to Managing Your Dealer Inventory for your business. Doing it right can boost sales for you as well as your customer base. Here at PGI Auto, we have the tools to help you turn it around or improve it even more. We offer many different tools to use to manage your inventory including software, tools, and tips. If you have any questions, you can contact us at 877-622-2291.
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