New data from accountancy firm UHY Hacker Young, has confirmed the value of stock held by UK dealerships has risen to £27.3 billion, a 16% year-on-year rise.
Software firm SalesMaster has created the “Stockbook” product to help increases vehicle stock turn, with the aim of allowing users to meet targets without resorting to heavy discounts. The platform enables real-time stock auditing, helping to promote upselling and optimise utilisation of existing stock.
SalesMaster Managing Director, Chris Stott, “There is up to £4.8 billion tied up in unsold stock within UK dealer networks, which is an extraordinary commitment of capital that represents a significant opportunity for streamlining of operational retail processes.”
“Stock flow denotes efficiency levels, and we aim to provide dealer groups with the visibility and accuracy required to remove physical forecourt stock limitations through smarter use of shared stock and order pipelines. Stockbook enables the design of cross-location promotions, targeted offers and ensure that all sales teams are working together regardless of region.”
SalesMaster’s product uses dealer group data to analyse purchasing trends, stock flow and better understand vehicle lead times and pass this knowledge on to retailers and customers. Stott concluded, “By moving traditional processes online, Stockbook is instigating the evolution of the dealership retail experience. Stockbook increases visibility and the accuracy required for true modern retailing – negating the need for unnecessary inefficiencies and hopefully reversing the trend of increasing inventories and unsold stock. Stockbook eases the process of pairing buyers with their perfect vehicle, at the same time removing the dependency on factory orders, reducing customer lead times and optimising retailer and manufacturer stock.”