Parts Inventory can be daunting - MyDealerKPI Parts Inventory Management System transforms this into a simple task. With a click of a mouse, you will effectively track your parts in any format: With one click Parts Inventory control will provide you.
Special order parts (SOP) can be one of the biggest factors in bogging down a parts inventory. Often considered a problem created by service advisors placating customer requests, SOP can become everyone’s profitability problem the moment a service call or parts request is terminated.
MyDealerKPI provides you with a list of all you SOP so you will be able to effectively manage it. Here are five proven methods for managing SOP before they start to drain your profits.
For warranty SOP, require both a service manager’s authorization and a scheduled appointment for installation prior to ordering the part. The likelihood of customer pick-up increases exponentially with this procedure
For non-warranty SOP, follow the same above procedures, where applicable, plus require a customer deposit or a full payment. The deposit helps offset carrying costs should the customer fail to pick up the part.
Should the SOP become a part of your inventory, evaluate its active parts life cycle for marketability. If still within the current model year, retain it in inventory for up to 10 months. If not, treat it immediately as aged inventory by discounting it 40% – 50% as part of an integrated parts locator system. Or, turn it over to a broker.
Bundle SOP with larger parts orders, requiring the buyer to purchase everything. This method works well when bundled with a large variety of parts.
Eliminate special order crash parts returns with parts ordering technology. Many e-Commerce tools offer VIN-scrubbing features that validate part numbers, to help ensure a higher level of accuracy and reduced returns.
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