The Five Essentials of good stock management
October 29, 2024
Join us at AM Live on 13 November
Several platforms at work in the typical dealership can hamper good stock management as it is too difficult to gain straightforward oversight of all vehicles in group stock and their status.
Ways to better manage stock will come under the spotlight at this year’s Automotive Management Live event, which takes place on 13 November, as part of the Autofinity-sponsored session when CEO Andy Whitehair will be joined by Sam Luscombe, sales director at Luscombe Motors, and Simon Palmer, used vehicle operations director at Hendy Group.
Attendees at the session which takes place at 14.30 in Theatre 4 can ask questions and join in the discussion which is expected to be lively and full of great advice and real life experiences.
Keeping tabs on several vehicles at varying stages from source to transportation, through the prep process to the forecourt, as well as costs and profit margins, has become an incredibly complex task with information often contained in different applications depending on the current status of the vehicle. In turn, this can make stock management across the group difficult to understand in real time and can often require staff to collate information from different portals manually.
“Whilst it sounds straightforward and, indeed, should be, a retailer’s ability to locate all stock at any one time in a single platform and understand what’s happening with a single vehicle, for example, if it’s awaiting a part of if it’s out on a test drive or if it’s been reserved online, is impossible without a single interface than can collect data from multiple sources,” Whitehair said.
“It often means sales managers and their teams as well as operational directors are largely working blind which impacts efficiencies, stock turn and eventually, profit.”
Autofinity’s ViHUB platform collates all a vehicle’s information by integrating with a dealer’s multiple and often disconnected systems to create one accurate source of vehicle data or ‘a single view of the truth’. Its dashboard enables dealership staff and senior managers to understand group stock status in real time and identify hold-ups which can be quickly identified to ensure the sales pipeline is not interrupted.
Join us at AM Live on 13th November at our session which promises to be an insightful debate and visit us at our stand C24.
