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

dealership inventory management software

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

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.

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 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. 

for more details: Moiboo Software

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How does inventory management software help the automobile industry?

Inventory Management Software

Inventory management software helps to manage the flow of materials. It optimizes the use of people and equipment. It helps to coordinate between departments and activities. This software is used to reduce the cost of stocking data unnecessarily. 

What features should an inventory management software have?

The software should tell the owner when he needs to purchase fresh stock. This helps the companies from going out of products when the demand arises.

The barcoding feature in the software helps to track the products with a serial number that helps the owner to track the items in the warehouse and keep a record.

A barcode reader looks upon the information on the products. This method helps to track the items using a barcode scanner rather than using expensive scanning hardware.

The inventory software helps in the optimization of inventory.

How does the Inventory management software help the automobile industry?

Workshop software

Most of the automobile workshops have spare part shops associated with them. With inventory management software, the workshop owner can keep a track of the spare parts left with him. The owner can make a choice of the spare parts to be purchased. This helps the workshop owner from overstocking or overbuying and this helps in reducing the costs.

Car dealer

In the case of a car dealer the inventory management system helps to keep a track of the vehicles that are in the showroom and those which have been gone on sale. This helps in reducing maintenance costs.

Car rentals

Car rentals are businesses who let their vehicles on hire. The inventory management software helps the rental agency to know which vehicles have been given on rent and those which are still available for rent. With the help of this software, the details of the fleet are shown in the dashboard which helps the customers to make the choice of their vehicle at the desired time.

Spare part dealer

 A spare part dealer uses the barcoding feature to initiate a serial number billing on the spare parts. The dealer can identify the spare parts stock easily and also decide on what parts to be purchased.

Advantages of Inventory Management software

  • The inventory management software helps to reduce the cost of maintaining the warehouses and also the manual labor involved in tracking the same.
  • The automation of the inventory tracking process makes it efficient in automatically collect data, make the calculation and record data.
  • The use of the warehouses can be optimized with the inventory software. The products can be arranged based on their demand for easy delivery.
  • The owners can have updated data of the inventory which helps them to plan for future investments.
  • Tracking which products come in, from which supplier and the length of the time they are in stock can all be easily found out with this software.
  • The owners can integrate their software with other software like the accounting software. So the management can easily track the flow of supplies and products and also generate necessary reports.

Conclusion

Tracking inventory is an important task in any business. With the help of the inventory management software, the business owners can track and collect data and also generate reports. 

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for more details, please visit our website: Moiboo Software

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