Derek Muller, parts manager for Burdick Dodge Chrysler Jeep Fiat had a problem to solve. The dealership had a large parts inventory, which meant a big cash investment month after month. As parts managers know well, effectively managing slow moving stock in the parts department is critical. Inventory that sits around loses its value quickly, resulting in a horrible return on investment. Muller had a challenge, to get rid of the dealership’s obsolescence, and quickly.
By chance, Muller came across DealerMine and learned about the web-based service the company provides to help parts managers identify and liquidate their slow moving parts. Muller was impressed when he saw some of the results other dealerships had experienced using DealerMine so he decided to give the service a try. Mueller quickly saw how easy to use and seamless the entire process was and the results he experienced were practically immediate.
“Since we’ve been using DealerMine, our frozen capital has gone down 40%,” said Muller. “Comparing DealerMine to other solution providers is like comparing apples to oranges. The system is streamlined, easy to use and precise. It’s the tool every parts manager needs.”
In addition to selling excess parts, DealerMine helps dealerships purchase their fast moving parts at half the cost of ordering from the manufacturer. The user-friendly website, hands-on customer service, and extensive network of parts buyers and sellers enables parts managers to improve profitability, quickly and hassle free.
“When an investment is bringing in a zero percent return, it’s time to re-evaluate,” said Mark De Lucia, president of DealerMine. “Slow moving stock drains your bottom line. The wise thing to do is get what you can, as fast as you can out of your idle stock and convert it into working capital to re-invest in what you know will sell.”
To run the numbers for your dealership, visit http://www.dealermine.com/RunTheNumbersCalc.aspx
About DealerMine Corporation
DealerMine provides a web-based service to help dealerships reduce their investment in slow-moving idle parts inventory. Since 2006, DealerMine has helped dealers liquidate millions of dollars in obsolescence and manage parts inventory more efficiently and profitably. DealerMine serves over 1,500 customers today and continually strives to provide exceptional, consistent and superior products and services that help automotive dealerships create and maintain a sustainable profit center. www.dealermine.com.