How to manage the vehicles in the showroom using the dealership inventory management software?

Need for Dealership Inventory Management Software

The dealer uses dealership inventory management software to manage the vehicles which are in the showroom and keeps track of the vehicle information and manages effectively. The car dealer can keep a track of the vehicles that are in the showroom and those which have been sold.

Car dealership involves the selling of used and new cars at a retail outlet to customers based on a contract between the buyer and the car dealer. It hires salespeople to sell the vehicles on their behalf for which they are paid a commission. A car dealership might also have a workshop associated with it to provide repairs and service to the vehicles. 

There are 5 things to be considered while opening a dealership business

1. Location
2. Type of dealership
3. Business plan
4. Licensing requirements
5. Legal provisions

Managing vehicles in a showroom using dealership inventory management software involves several steps. Here are some of the key steps to managing vehicles in a showroom using dealership inventory management software:

• • Entering vehicle information: The first step is to enter the vehicle information into the software. This typically includes details such as make, model, year, VIN, engine size, and color.
  • Adding pictures and videos: The software allows you to upload pictures and videos of the vehicles in the showroom to your website and other online platforms.
  • Setting prices: You can set prices for each vehicle in the showroom, and the software can automatically update prices based on market conditions or other factors.
  • Managing inventory: You can use the software to track the number of vehicles in the showroom, and to manage the flow of vehicles in and out of the showroom.
  • Sales management: The software allows you to track sales of vehicles in the showroom and to generate reports on sales activity.
  • Marketing: The software allows you to create targeted marketing campaigns for specific vehicles, and to track the effectiveness of these campaigns.
  • Reports: The software can generate various types of reports, such as inventory reports, sales reports, and customer reports, to help you track the performance of your showroom.
  • Mobile access: With cloud-based software, you can access the inventory management software from your mobile, which gives you the flexibility to manage your inventory from anywhere at any time

How does the inventory management software help the dealers?

The inventory management software helps the dealer to make decisions regarding the ordering of new vehicles based on the market demand. The software is responsible for letting the dealer know which cars are sold, which ones are yet to be delivered, transferred to another car dealer, which stock is coming in, etc.

The Vehicle identification number helps the dealers to easily identify the vehicles. The software has all the information about the vehicles on its website, for instance, the vehicles that are in stock for a long time. The dealer can also identify the people who have tried to view the vehicles online and also obtain customer queries.

What are the features required in a dealership inventory management software?

1. Order management

This feature helps the dealer to maintain adequate inventory at all times. The system gives a warning when the stock drops down and helps in maintaining the stock efficiently.

2. Asset Tracking

This feature enables to know which vehicles are in the showroom, which is yet to be delivered and those which are sent to other car dealers.

3.Service Management

In the case of a workshop associated with the car dealers, It becomes necessary to identify the charges involved for the services which are added to the total cost of the vehicle.

Advantages of the dealership inventory management software

1. It helps in reducing the capital cost incurred in maintaining the stock in the showrooms.
2. It ensures that stock is available every time there is a demand
3. The inventory is well maintained
4. Safety of the stock is ensured
5. The loss due to obsolescence, deterioration is avoided
6. The shipment of the stock is made easily
7. Optimization of the inventory is achieved
8. An automated system helps to save time as compared to the manual one
9. Collection of data, maintaining documents, etc is done easily
10. User rights are restricted only authorized users can assess the data.

Moiboo software

Moiboo software is a cloud-based software that has all the features of an inventory management software along with the accounting feature. So all the activities are integrated under one solution.

Features of Moiboo software

• Digital agreements
• Invoicing
• Consignments
• Profit per car
• Multi-currency
• Vehicle management
• Purchases
• Document management
• Mobile App
• Commission calculation
• Accounting
• Floor Credit management

Conclusion

An automated inventory management software saves time and minimizes cost as compared to the manual system. Overall, dealership inventory management software can help you manage your showroom inventory more efficiently, and make it easier to track sales, create marketing campaigns, and generate reports on the performance of your showroom.

for more details: Moiboo Software

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