Best tools to manage used inventory

[elawless]

What tools have you used to mananage your used car inventory? Has anyone tried aaXchange's VMS? What about Manheim's Point Inventory Optimization?

Does anyone source cars from DrivenXchange, VB2, or Onlane?

[Swindy]

Arkona DMS has added a vehicle Return on Investment Analysis tool to their product. Of course, made available to all clients at no additional charge. It's a great tool for both new and used to determine best ROI and Best Stocking Levels based on desired Days Supply of vehicle inventory.

[mchastek]

Arkona DMS has added a vehicle Return on Investment Analysis tool to their product. Of course, made available to all clients at no additional charge. It's a great tool for both new and used to determine best ROI and Best Stocking Levels based on desired Days Supply of vehicle inventory.

Thanks Steve! Just to be fair though, it looks like you work for Arkona. Have you used any other products? Any insight? Thanks.

[Epster]

I used aaxchange last year. My current employer does not use this program. It is a great tool. I would say it actually has too many tools if that is possible. It is a good way to teach new managers inventory control. I personally prefer to do it manually. A nice feature is that it keeps up with you past sales profits and time spent on the lot. This can come in handy when appraising and you need more than what your gut says. We humans can be wrong sometimes. Be sure however not to rely solely on this programs recommendations. You will find that still using the black book and your experience is ultimately how you should decide a vehicles worth. Lastly, I really enjoyed using the market analyzer feature. This tool will pull current listings from autotrader, cars.com, carsdirect, carmax, etc so that you can quickly view what similar vehicles are being advertised for. If anyone has questions about this program please feel free to ask.

[Miccara]

The big thing this year will be the VINIQ device designed by Live Global Bid. Too much to explain here, but you can always check out their web at www.viniq.com