Hybrid Inventory Analytics
SmartLot is the first dynamic inventory analytic tool that blends historical performance with local market data to give you the optimal inventory stocking recommendations. This system works in real-time so as you acquire and liquidate vehicles the tool seamlessly analyzes the performance of each and compares your dealerships needs to the hottest current market performers. We have a continual pulse on market supply and demand. The system will automatically sync the inventory mix and adjust to achieve maximum turn times and profits. Our system identifies vehicles that have the highest demand, shortest supply and fastest historical turn times.
Other systems on the market today either take a historical or market approach to stocking strategy. Both are critical but only RedBumper delivers the perfect blend of the two.
An historical approach will enable a dealer to repeat his best performance months but it will not help him expand his profits and unit sales. Also, history repeating itself isn't necessarily a good thing if the dealership's past performance has been poor. We want to improve on a dealer's best months and enable him to keep improving. A market approach typically ignores historical sales and only focuses on current supply and demand. That can be a mistake because every dealership has its own unique identity. Many dealerships sit next door to one another and retail a completely different mix of vehicles. This works because each has a different brand, different sales people and a different advertising strategy and culture. Both ideologies are flawed by themselves. When blended together, the combination is revolutionary.
The secret is the way SmartLot blends hot market performers into the store's historical mix. A dealer may have never had experience with a specific vehicle. However, he needs to stock “hot market performers” to expand traffic and sales. If a hot performer sells well, SmartLot will automatically recognize it and recommend it again moving forward. If it doesn’t perform well, it will simply be dropped from future recommendations.
We use a number of criteria to determine which top market performers are likely to perform well for a specific lot. Other systems in the industry basically rely on chance when recommending a market performer. We take the analysis to another level. As a dealer buys and sells vehicles, SmartLot automatically makes slight adjustments to help improve sales and profits month after month. The longer a dealer is on our system, the better he becomes.
There are no equals to the Redbumper SmartLot product on the market today. If you want to continually grow sales and profits while improving turn times… you need a SmartLot!
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