Creating Your Stock Audit Plan: What to Check Before You Start

stock audit plan

Deciding to create a new stock audit procedure is not an easy one. Even if you’re upgrading an old framework, numerous options may influence the quality of your future audits. As a result, careful planning may save you time and money in the long run by streamlining and improving the efficiency and accuracy of your…

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Stock Control as a Strategic Issue: Flexible Funding

Gone are the days when dealers relied on their own capital or regular bank lending to stock their forecourts. As competition has increased, business owners have looked for more flexible ways in which to fund a larger number of vehicles, in order to attract more customers. In today’s environment, with rapid stock turnover and huge…

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Stock as a Strategic Issue: Rocketing Values

During the last 18 months the word ‘unprecedented’ has become ubiquitous and, arguably, overused in many contexts. There are, however, good reasons why its application to the car industry, both globally and locally, is well justified. The pandemic has had a tumultuous impact on both the supply and demand side of the industry and throughout…

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Stock Control as a Strategic Issue: Taking an Omnichannel Approach

The lockdowns of the last year have resulted in the ‘shortcutting’ of consumers’ comfort with, and expectations of, buying online. This has been true across almost all categories of product, including big ticket items such as cars. In the Autotrader Market Report November 2020, 41% of research respondents stated that they would consider buying a…

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Stock Control as a Strategic Issue: A Need for Agility

retailer stock management

The industry has discovered its Achilles heel – vehicles so heavily reliant on processing power that they are literally immobilised by the scarcity of semi-conductor chips, causing a huge impact on the new vehicle supply chain. At the same time, increasing consumer confidence and unexpected access to cash from savings during lockdowns have combined with…

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Finding Lost Revenue for Car Dealers

Car Dealership

Results of 1000 Dealer Audits Cash is King, so the saying goes. In the automotive industry, this is especially true as cash flow management is one of the key challenges for dealers with literally millions tied up in vehicle inventory. The automotive industry is a very competitive and fast-paced environment. With tight profit margins, it’s…

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AI: Managing Data, Improving Business Intelligence

AI: Managing Data, Improving Business Intelligence

Artificial intelligence (AI) has become a common household term. We all know about Siri, the intelligent virtual assistant that comes with Apple products’ operating system, but AI is much more than just her. From a business perspective, AI has many uses. From data analysis to automation, AI is rapidly being endorsed by businesses and is…

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Now is the Time to Digitise

digitisation for wholesale funders

The current global context is pushing organisations to make better-informed, faster decisions to survive in a rapidly changing environment. As organisations begin to shift from the recovery phase of COVID-19 to the renewal, many are focused on what comes next and capitalising on the changes made to the business during the height of the crisis. One question…

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5 Simple Ways to Improve Dealership Finances

Ways to Improve Dealership Finances

Dealership finances can be complex and there is a lot to manage. In uncertain times, this is even more important and it’s a challenging time for many but there are some simple things you can do to improve dealership finances. In this article we’re going to share 5 simple ways that dealership CFOs can improve their…

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Dealer Network: Simultaneous Group-wide Audit

When it comes to physical vehicle audits two of the biggest challenges are scale and speed. Audits need to be conducted and concluded quickly to be relevant but the bigger the scale the more challenging the process. We recently conducted a case study with a client that was avoiding conducting network stock audits as it…

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