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: 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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Dealer Floor Plan Financing Explained

dealer floor plan woman and car

In the automotive industry, the terms floor planning, stock finance, and floor plan financing are frequently used. Floor plan finance is a form of funding used by organisations such as franchised and independent motor dealers, agricultural equipment vendors, materials handling equipment dealers, and similar. This form of funding is a way of using revolving credit…

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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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WLTP: What is it all about?

WLTP (Worldwide Harmonized Light Vehicles Test Procedure)  WLTP is a new, realistic measuring process for determining a car’s fuel consumption, range and emissions. It is mandatory for all manufacturers and will be binding in all participating countries. However, while the name suggests it is a “worldwide” standard, no country in either North or South America is part…

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CheckVentory allows car dealers to self-audit (SAudit) more accurately

When most people see shiny new cars on a garage forecourt they don’t know that the dealer doesn’t own the cars. A financial institution or the distributor for the brand they represent does,” says Adrian Walsh founder of CheckVentory, an automated stock checking system designed to replace manual inventory control in high value asset sectors…

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Keeping stock pays dividends

  Early career experiences often provide the seedbed of inspiration for future enterprise. In the case of Adrian Walsh, a combination of careers in the information technology and automative industries combined to provide the idea for CheckVentory, a new firm that recently won the 2015 PwC Docklands Innovation Award. While working as MD for one…

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