What features do you currently have that are helpful? What features do you wish you had? What features do you have that you don't use? Maybe we can create a blueprint for an inventory tool here. Does anybody use the analytics offered by Autotrader? Is that helpful?
What do you want out of your Inventory Tool?
- Thread starter Rino2009
- Start date
- Apr 10, 2009
- 334
- 10
- First Name
- Matt
Inventory Tool could mean several things. What specifically are you referring to?
Like a pricing tool, photo management, internet classifieds, etc
I guess I'm okay with a broad definition of inventory tool. I want to learn about what people are using to manage their inventory. At the end of this discussion I'd like to have a solid idea of what features, analytics and options are most useful for managing inventory. I'd also like to have a wish list of features that aren't currently available but would be very useful. Does your current system stack up to what you think an inventory management system should do?
mattwatson81, to answer your question more specifically, I'm refering to pricing tools, photo management and classifieds postings. Do you use one system for all three or separate systems? What's right and wrong with how they work? Could they be improved? How?
- May 1, 2006
- 3,623
- 2,554
- Awards
- 13
- First Name
- Alex
I'd like to see a CRM, desking solution, F&I solution, and a DMS be one tool. I'd like to see an inventory management tool with pricing metrics like vAuto and something that also records all of my stats on Cars.com/AutoTrader and uploads to eBay/Craiglist. I'd like to see my dealer website also contain everything for SEM, instant chat, video hosting, and all sorts of other things.
What I'm trying to get at is that although some companies can package all these things together we're not at a point where one company can do all these well inside that package. I think we're heading that way though.....and very close.
There are some truly innovative & ambitious companies in our space today: TK Carsites, eCarlist, eLeads, vAuto, HomeNet, iMagicLab, Dealer.com, VINSolutions are just a few that come to mind. I think some of these companies are very close to being able to put the whole package together efficiently....so you'll really only have to partner with 3 technology vendors on:
1. CRM / DMS / desking / F&I
2. Inventory Management / stickers / photos / aggregating / pricing metrics
3. Websites / SEO / SEM / chat / video / ad serving
And after that happens, then you'll probably see collaboration and partnering between vendors who opperate in one of those 3 areas. You'll end up seeing vAuto and Dealer.com integration or VinSolutions and DealerSocket (I'm just making these partnerships up by the way). Where you might have a complete inventory tool like HomeNet feeding your used car specials into your TK Carsites dealership website. Or if you have Dealer.com's CarFlix, those could be seen in vAuto's merchandising tool showing which cars have "videos" so the used car manager can see exactly what is happening to his inventory online. If vAuto was an inventory host, then the used car manager could change the order of his photos so the CarFlix video on the website looked better.
I think that's where things are heading.
What I'm trying to get at is that although some companies can package all these things together we're not at a point where one company can do all these well inside that package. I think we're heading that way though.....and very close.
There are some truly innovative & ambitious companies in our space today: TK Carsites, eCarlist, eLeads, vAuto, HomeNet, iMagicLab, Dealer.com, VINSolutions are just a few that come to mind. I think some of these companies are very close to being able to put the whole package together efficiently....so you'll really only have to partner with 3 technology vendors on:
1. CRM / DMS / desking / F&I
2. Inventory Management / stickers / photos / aggregating / pricing metrics
3. Websites / SEO / SEM / chat / video / ad serving
And after that happens, then you'll probably see collaboration and partnering between vendors who opperate in one of those 3 areas. You'll end up seeing vAuto and Dealer.com integration or VinSolutions and DealerSocket (I'm just making these partnerships up by the way). Where you might have a complete inventory tool like HomeNet feeding your used car specials into your TK Carsites dealership website. Or if you have Dealer.com's CarFlix, those could be seen in vAuto's merchandising tool showing which cars have "videos" so the used car manager can see exactly what is happening to his inventory online. If vAuto was an inventory host, then the used car manager could change the order of his photos so the CarFlix video on the website looked better.
I think that's where things are heading.
- Apr 6, 2009
- 455
- 119
- Awards
- 5
- First Name
- Mitch
I would like to see the inventory tool have robust (comments/vehicle description) templates that come accross to the customer as personalized. In my narrow scope I'm not aware if theres a company doing this very well allready. I believe there are a few who have something to the effect that you can set up description rules, but what I envision is a giant inventory database that compiles a great descrition based on a series of checkboxes and actual historical vehicle information. Does this description make sense? Is there somthing like this allready available? The stats on used vehicle inventory turn when you compare with and without good descriptions is 1:2 if im not mistaken - huge opportunity.
- May 1, 2006
- 3,623
- 2,554
- Awards
- 13
- First Name
- Alex
All I can say about that Mitch is BRING THE CHEESE!!! .....coming to an inventory tool near you soon 
- Apr 6, 2009
- 455
- 119
- Awards
- 5
- First Name
- Mitch
- Apr 6, 2009
- 90
- 0
- First Name
- Hyundai of St. Aug
- May 1, 2006
- 3,623
- 2,554
- Awards
- 13
- First Name
- Alex
