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
- Type of dealership
- Business plan
- Licensing requirements
- Legal provisions
Need for Dealership Inventory management software
The dealer uses 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.
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.
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 inventory management software
- It helps in reducing the capital cost incurred in maintaining the stock in the showrooms.
- It ensures that stock is available every time there is a demand
- The inventory is well maintained
- Safety of the stock is ensured
- The loss due to obsolescence, deterioration is avoided
- The shipment of the stock is made easily
- Optimization of the inventory is achieved
- An automated system helps to save time as compared to the manual one
- Collection of data, maintaining documents, etc is done easily
- User rights are restricted only authorized users can assess the data.
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
- Profit per car
- Vehicle management
- Document management
- Mobile App
- Commission calculation
- Floor Credit management
An automated Inventory management software saves time and minimizes cost as compared to the manual system.
for more details: Moiboo Software
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