Dealerships are always looking for ways to improve their sales process to better serve their customers while making their dealership more efficient. Inventory management is a main component. Internally, this means making sure you have the right inventory variety, it’s priced right, and you have tools to get accurate appraisals for trade-in inventory. Externally, it’s about making sure your customers aren’t getting sold inventory that is no longer available or is in transit.
Below, we will cover how an Inventory Management Software can help your dealership.
What Are the Benefits of Using Automotive Inventory Management Software?
Stock With confidence
Automotive inventory management software programs use hard data to find the vehicles that are most likely to sell at your location. Eliminate the guessing game and start putting proven sellers at the front of your lot by combining historical sales data with current market trends. Your best-sellers will gain prime real estate on the lot, your website, and your marketing channels.
Appraise Vehicles Instantly
You can also use dealer inventory software to determine accurate vehicle pricing the second one rolls onto the lot via a trade-in. It will also find a fair price point for all of your inventory. That way, you’ll know what a car is worth, where you should price it, and where you should aim to sell it—all before you can even track down the keys. The system provides data from multiple sources, including recent auction results, local market conditions, and regional pricing trends.
Improve Customer Service
Automotive inventory management software systems improve the customer experience by providing immediate, accurate, and relevant information. For example, service staff can tell customers exactly when parts will be available, minimizing the frustration of uncertain wait times or unexpected delays.
Additionally, if a part isn’t in stock at your dealership, the system can locate it at another branch while providing an accurate ordering timeline. This transparency builds trust with customers and significantly reduces the likelihood of lost sales caused by inventory issues. The system also enables proactive communication about parts availability, allowing service departments to schedule repairs and reduce vehicle downtime, leading to higher customer satisfaction and loyalty.
Reduce Operational Costs
An automotive inventory management system reduces operational costs across multiple areas through multiple ways. By maintaining stock levels based on historical data and demand forecasting, dealerships can minimize extra inventory and prevent costly stockouts. In fact, some systems can even be programmed to automatically reorder parts at the right time with the right quantities, eliminating emergency shipping costs and reducing storage expenses.
Not only that, but the system also helps identify slow-moving inventory, allowing businesses to make informed decisions about discounting or liquidating these vehicles before they can impact your dealership’s bottom line. In the end, this approach to inventory control can lead to reduced carrying costs and maximize profits.
What Does ACV MAX’s Inventory Management Software Do for You?
Acquisition
Day to day and month to month, you’re tasked with tracking your best-selling vehicles and managing an inventory that needs to be constantly replenished. Now ask yourself: Does your current software make it easier or harder to do this?
With ACV MAX’s automotive inventory management software, you can easily analyze your sales records to identify your hottest-selling vehicles and ensure that you acquire new inventory quickly. You can also use our tools to look at the most popular vehicles in your market, pull data, and mobilize a plan to obtain cars that will sell—and sell fast.
Appraisal
Getting an accurate appraisal of trade-ins is crucial if you want to expand your margins. The cost-to-market appraisal tool included in our software package makes trade-in negotiations easier than ever before.
This management tool analyzes important information about the vehicles in your market to ensure that you’re buying trade-in vehicles at a price that makes sense for your customers and your business, alike. It also provides the data needed to determine the best vehicles to stock right now and which ones to hold off on.
Our appraisal tool provides recon alerts that call attention to specific recon issues, ensuring that costly errors are never overlooked. Additionally, our tool automatically identifies damage on vehicles using AI technology through photos.
Pricing
With ACV MAX’s intuitive inventory management software, you can appraise, price, and merchandise the vehicles in your inventory with the tap of a button.
Your sales team can quickly price any vehicle using accurate data from your market. We source information on the most popular trims, option packages, body styles, and more to ensure you and your staff know exactly how much each vehicle is worth. We then make this information readily accessible so you can close sales more effectively.
Trust ACV MAX’s Automotive Inventory Management Software for Your Dealership’s Success
ACV MAX helps thousands of dealerships across the U.S. manage inventory, increase gross profits, and sell more cars. Schedule a personalized demonstration of our inventory management software to see how ACV MAX can be the driving force behind your dealership.
