Auto dealer drives inventory efficiency with asset-tracking app
H.Greg.com knows where its cars are.
The operator of 30 privately-owned dealerships throughout North America is deploying Cox2M Internet of Things (IoT)-based technology to obtain instant access to its entire vehicle inventory on a mobile app. The Lot Vision solution from Cox2M, a Cox Communications company, utilizes a GPS-based wireless device placed in a vehicle's on-board diagnostics port or tracker attached to a steering wheel.
Lot Vision technology provides real-time information such as what cars are in stock, where they are on the lot, whether they need maintenance, and which are ready for sale, from a mobile device or laptop. HGreg.com has seen improvements in operations and the customer experience since rolling out the solution. The company can track the time a vehicle spends in each phase of processing on the lot.
In addition, by integrating LotVision with the HomeNet automotive digital merchandising platform, H.Greg.com enables its dealers to syndicate new and used car inventory between the platforms and locate for-sale vehicles on the lot. The company also reports being able to reconcile inventory faster and more accurately than sending employees on an on-foot search.
Other benefits include the capability to track multiple lots, so dealers can gain a full view of inventory when more than one lot is involved, as well as to monitor the progress of vehicles through reconditioning and merchandising. This enables H.Greg.com dealer operations teams to prioritize and locate vehicles that are aged or have stalled in the sales process.
"With Lot Vision and the HomeNet integration, we'll be able to view information that we used to have to pull from multiple sources or couldn't access at all,” said Chase Sattler, VP of operations, HGreg.com. “We expect to benefit from this daily."