Supply chains are the lifeblood of dealership services. Your technicians need available parts and equipment to perform routine maintenance and emergency repairs. At the same time, you want to ensure that the service department runs efficiently without ballooning your carrying costs. Leveraging Nexera’s data-driven solutions can streamline your inventory management strategies, allowing you to achieve greater levels of profitability by optimizing your inventory levels and identifying performance challenges that may slow down productivity.
What’s Holding Your Dealerships Back?
To solve an inventory management problem, you need to identify where your shortcomings land. When overseeing multiple warehouses and dealerships across your region, tracking supply chain inefficiencies can become difficult. Ask yourself: does the problem lie with incorrect inventory levels, malfunctioning or obsolete equipment, or inexperienced and underperforming technicians?
Tackling these issues require a multifaceted approach. Not only will you need a snapshot of the overall company health, but also perform an in-depth analysis that hones in on key performance indicators (KPIs) that can show you how each dealership stacks up to industry benchmarks.
Incorrect Inventory Levels
Too much inventory can overcrowd warehouses, which increases overhead costs. It can also create problems where you overstock in one part to the point where you don’t have room for other parts. On the other hand, not carrying enough of the right parts on hand can lead to shortages that impact technician performance and sales.
Increasing visibility in your supply chain allows better tracking capabilities to eliminate inventory level issues. Nexera’s Advanced Inventory Management, or AIM, is designed to create and automate car stocks as well as enhance your inventory management processes.
With AIM, you’ll be able to pull the necessary data from your supply chain processes, organize it, and generate reports that show real-time stock levels. Additionally, you’ll be able to know exactly where your inventory is.
With automated car stock solutions and improved inventory data, you can balance inventory levels and easily identify obsolete parts that are taking up valuable warehouse space. You’ll also be able to create forecast models that better predict the times when you will need to increase or decrease the number of available parts.
Malfunctioning or Obsolete Equipment
Another key area to consider in your inventory management lies with parts used to maintain service equipment. Machines break down, impacting productivity and creating a strain on how you market and sell your dealership services.
Fixing the same equipment repeatedly costs time and money. It creates downtime that can increase service work timelines and create dissatisfied customers. Technicians become pulled from servicing vehicles to performing emergency work on equipment.
With our platform, you are able to see how often equipment parts are purchased and the dealership locations. You can perform further investigation into why the equipment requires such constant maintenance. With this information, you can upgrade and replace equipment or provide additional training to technicians to prevent misuse and to improve machine performance.
Why Data-Driven Approaches Help with Inventory Strategies
Capturing the right data at the appropriate time requires having capable inventory management systems in place. These systems must be versatile to your processes, allow for data to always be accessible, and provide transparency regarding your supply chain that helps to find unique opportunities for sales growth and boosted productivity.
Data-driven approaches such as Nexera’s Advanced Inventory Management will bring this data to the forefront to inform your technicians regarding all inventory levels. It allows for car stock creation on the fly, so it’s tailored to your dealership as the data is easy to organize and use. You can automatically adjust stock levels, view part usage, and export data to other systems such as ERP applications.
Advanced inventory Management improves your management processes, allowing you to become more proactive with your decision-making. When you have accurate data available at your fingertips, you can generate cost reports, identify slow-moving or obsolete parts, and take actions regarding technician performance.
Ways to Implement This Inventory Data Throughout Your Operations
There are many advantages to having AIM modules as your inventory fulfillment solution. For example, you may be dealing with part shortages in specific territories. With AIM, you can identify which parts are impacted as well as the costs of the parts and the manufacturing source. You may discover a supply chain bottleneck that is preventing the dealerships from receiving the parts in a timely fashion. Using these reports, you may switch to a closer part supplier to the region.
Another way to implement this inventory can involve improving your warehouse layout. AIM solutions allows you to revamp your warehouse layout so technicians can easily restock and find parts. This increase in accessibility allows workers to boost their speed and productivity. It also allows you to note parts that are not moving well. Then, you can resell the inventory to benefit the company’s budget.
Advanced Inventory Management provides enhanced reporting and data extrapolation. You improve data accuracy by having real-time stock level figures to determine technician performance issues. With this information, you can speak with your technicians about the problems, provide additional coaching, or hire competent technicians to fill positions.
Elevate Your Dealership’s Performance!
Are you ready to take your dealership to the next level? Advanced Inventory Management offers robust solutions to tackle unbalanced inventory levels, obsolete products, clerical errors, and other supply chain issues. Our advanced inventory management system is designed to help you stay competitive and provide superior service to your customers.
Imagine a world where inventory management is seamless and efficient, freeing up your time to focus on growing your business.
Discover the power of Nexera’s Advanced Inventory Management.
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