Using Inventory Management to Leverage Better Deals
Buy, Trade, Sell....
Whether buying, selling, or trading, you always want to make sure that you’re making the best deals. Of course, that means knowing what you have and what your dealership is selling best. It does no good to attempt to make deals if you aren’t even sure what’s going to be a “deal” for you in the end, after all. With an integrated inventory management solution, it will be easy for you to know exactly what leverage you have, or if you have any leverage at all, to get the best deals for your bottom line and your customers.
HOW CAN THIS TOOL HELP?
The ways that an automated inventory solution can assist with your profits are nearly endless. However, the basic theme is that it makes it easy for you to always have instant access to information about your inventory. Automated inventory is key. You can find out what items are selling, which ones aren’t, and where the best deals can be made. If you have customers that are seeking out a certain unit, you’ll have a note of that somewhere or a special order note on record that will come up when you perform a search.
WHAT YOU HAVE ON HAND!
You'll also be able to see what you have on hand so that you aren’t buying things twice. Sure, some items might be hot enough to pick up a few of, but usually, it’s best to stick to a limited number of used units because you don’t want to appear oversaturated. If someone comes in and expects to get top dollar for a “rare” ATV, for example, you’ll be able to search your inventory and see whether it’s rare or you might have one on hand. Or, you could even see if there’s a customer looking for something similar by accessing your customer notes. It's all right there for you.
PROFIT MARGINS ARE SCARCE
In the Powersports industry, you have to get profits where you can. However, you also want to do it in the easiest way and without doing anything less than professional. By capitalizing on small improvements like upgrading your inventory management solution, you’ll be able to find significant profit margins that you can harness for your dealership’s future.
When you are informed, you can make better business decisions. As a dealership, that means making better buying decisions, both with your new and used inventory. Take advantage of automated inventory management solutions to improve your transactions and put all of your leverage to use.