Parts inventories make up a significant investment for dealerships and, if managed incorrectly, can be the same considerable loss for your business. Using a Dealership Management Software (DMS) platform, dealerships save money on an annual basis. Not one but several vendor price files containing thousands of parts can be uploaded to your dealership’s database so that you can select the desired part at your quoted price file rate.
An average dealership uses multiple wholesale distributors and vendors to manage their parts and service departments’ multi-faceted needs. Periodically vendors will supply dealers like you with updated part catalog files. An email will be received from your part vendor with the catalog attached. The supported file formats are Excel or CSV for these catalogs that are sent to dealerships across the country.
NTP-Stag, Inc, Arrow Distributing, and Keller Marine are a few brand names used in the RV Industry. In the trailer industry, well-known suppliers are Redneck Trailer Supplies and TextTrail Trailer. Both industries also use local Wal-Mart Stores, auto stores, and Amazon.
Parts departments function “internally” as a service center for vehicles they purchased with the intent to fix and sell or by adding new parts that a customer may have asked for before the vehicle is delivered. They also perform a function “externally” for customers who schedule their vehicles to be maintained and fixed or as a parts store for someone to make a counter purchase.
Check out these statistics. According to Statista.com, “This statistic represents the parts inventory value per dealership in the United States from 2014 to 2017. In 2017, the average parts inventory per dealership was valued at around 390,960 U.S. dollars. Between 2014 and 2017, this value increased by nearly 63,000 U.S. dollars.” Published by I. Wagner, Apr 16, 2020
Functionality in some DMS tools also offers “Purchase Orders” that interface directly with your parts vendor, such as Keller Marine Distributor. These parts can also be ordered through your DMS tool by adding parts throughout your workday or week. Once the file is loaded and ready, it can be sent automatically through an Application Programming Interface (API). This is a feature that some DMS businesses have developed so that ordering is seamless.
Most wholesale distributors offer updated price files Quarterly, Bi-Annually, or Annually. You can request that these files be sent to you in a digital file from your vendor. Once you receive it, you may email it to your DMS and ask them to upload it to refresh your part prices in your database. When researching for a new DMS, it’s a good idea to inquire about price file uploads. Some, not all, DMS companies charge for each upload.
In addition to the datafile, support staff will need to know if in addition to the catalog upload, if part, price, cost, and retail prices be updated in the current inventory. Support staff will also need to know if the dealership has multiple locations, the parts in all locations should be updated as well. The contents of the catalog and data will vary from company to company. In most cases, manipulation of the data will require the use of Microsoft Excel.
If you are sufficiently familiar with the required fields EverLogic uses in uploading parts, and proficient in using Excel, end users may upload price files on their own. It is highly recommended that the how to procedure for the supplier file in question be read and understood prior to the upload. Alternatively, most end users forward the file to Support@EverLogic.com for processing. If you need help from our support team when uploading price files, check this article out.