What is PareXPlus?
PareXPlus offers the automotive industry a fully functional parts inventory replenishment solution that is system agnostic. Designed to manage and control dealer inventory stocking parameters, this web-based tool optimises inventory levels and suggests stock orders based on sales history and demand analysis.
Optimising parts inventory levels with PareXPlus will see benefits not just for dealers, but also for Franchises or Original Equipment Manufacturers (OEMs) by providing them with a higher visibility of the full supply chain. With PareXPlus, dealers can reduce inventory costs and improve on their overall parts ROI.
The Vendor Managed Inventory scenario (Dealer Forecasting) enables cooperation between the distributors and their dealers. The distributor is authorised to monitor dealer’s stock and sales levels and is responsible for recommending minimum and maximum stock levels and optionally, for stock replenishment at dealer warehouses.
PareXPlus Forecasting System includes the following sub-modules:
- Dealer Part Demand History – Keeps track of sales patterns for forecasting purposes.
- Dealer Part Classifications – Allows dealer parts to be periodically reclassified into groups determined by a given set of rules.
- Dealer Stocking Parameters – A set of forecasting parameters that recommends order quantity based on various factors including seasonality, trend, lost demand etc.
- Dealer Forecasting or Automatic Dealer Forecasting - A step-by-step process of determining the parts that need to be replenished.
- Recommended Stock Returns or Automatic Buyback Proposals – Analyses non-moving stock and automatically sends buyback proposals to dealers.
Advantages for Dealers
PareXPlus integrates with over 40 different dealer management systems including Pentana Solutions’ eraPower and DealerPRO, as well as, our Virtual Parts Warehousing Solution, PareX. With a real-time data feed, PareXPlus provides a more accurate forecast and inventory plan.
By optimising inventory levels based on actual dealer demand, dealers also see a dramatic drop in part returns and parts obsolescence. Dealers are able to plan for higher part number coverage without the danger of stock out. The best stock mix is provided without any research, maintenance or manual labour.
Advantages for Franchises / OEMs
Over time, with the use of this inventory management system, dealers will also see a warehouse with more genuine accessories, general repair parts and fast moving pieces whilst noting significantly reduced excess inventory.
OEMs in many cases across the world have limited visibility of dealer retail sales. With PareXPlus, OEMs can see the total stock demand picture within their dealer network. Fostering closer relationships between OEMs and dealers will help improve brand retention in competitive markets.
We’re here to help
The overall benefit from implementing PareXPlus lies in increased customer satisfaction throughout the value chain. This arises partly through end customer repairs being done on time and as expected with genuine parts. Whilst part availability is one piece of the puzzle; automating the stock mix allows technician and manager productivity to rise which in turn allow them to foster stronger customer relationships with consumers.
As users of this inventory management tool, you will also be given monthly performance reporting. This focuses on set KPIs, trends and comparative benchmarking to drive constant improvement for your brand.
Click here for other parts management solutions.
For more information or if you’d like a demonstration on how PareXPlus can improve aftersales customer experience and CSI, contact us today!