It’s Time to Leverage an Inventory Management Solution Powered by Robust Data

February 8, 2022

Be honest with yourself. Does your inventory management solution leave you wanting more? (If you answered yes to that, then stop reading and schedule your consultation right now!) Let’s face it, chances are high that your data is dirty, incomplete, and lacking the complexity to elevate your dealership to the next level. The result of this is decreased profits, frustrated team members, and a poorly managed lot. It’s up to you to acquire and stock with confidence. Grosses may be higher than normal right now, but the market trends are shifting. Tomorrow will bring new disruptors. To be prepared for that, equip your lot with an inventory management platform that is powered by robust data.

As your dealership continues to navigate shortages, it’s more important than ever to be vigilant in how you source, merchandise, and sell automobiles. The industry is changing, and so too should your approach to inventory management. You can’t simply do things the way that you did them 10 years ago. Heck, you can’t do things the same as you did last year! The future is a bold new frontier. And to be competitive, you need to have the inventory. To get the inventory, you need to have a solution in place that marries current market velocity to your sales history. A proper inventory management system will provide data for internal transfers, make-a-deal opportunities, and give you quick links to auctions to help reliably stock directly from your dashboard.

But that’s only half the battle. It’s up to your inventory management system to empower your staff with the ability to appraise better. That begins with having the most complete datasets in the industry. Having this clean data provides the ability to precisely reflect the most current fair market value of each vehicle based on market demand for comparable years, make model, trim, mileage, condition, and more. The best part is that once you are appraising better, you can more accurately validate your numbers. A proper inventory management system gives you real-time relevant vehicle valuation with ten pricing proof points that include third-party resources like KBB, NADA, and Edmunds. The end result helps you to avoid unnecessary discounting.

Finally, a robust, data-driven inventory management system will allow you to access the most extensive database in the industry with a library of over 500 million vehicle attributes, broad off-brand OEM build data coverage, and over six million unique vehicles updated in the market listings daily. Integrations, write-back capabilities, and sparkling clean feeds to hundreds of sites and services deliver system-wide updates effortlessly. With enhanced desktop and mobile solutions, your team is equipped with end-to-end visibility of your entire pre-owned operations process.

Inventory management doesn’t have to be difficult. It doesn’t have to be slow, clunky, or hold your dealership back. Empowering your lot with robust data is taking a step in the right direction. And while the industry is still dealing with serious disruptions, now is the time to take action and step into a next-generation system. Joining market data with your sales history is a home run for elevating yourself above your competitors. MAX Digital is more than just a solutions provider. Instead, MAX Digital looks holistically at your operations and uncovers ways for you to upgrade your technology in a manner that will help you acquire more inventory, sell it faster, and hold more gross on every transaction. Schedule your FREE DEMO today!