7 Variable Management Strategies to Help You Run Better | vAuto

No matter how well your dealership is performing, you could always be performing better. That’s why so many dealers have adopted the Variable Management approach to managing inventory. The approach helps dealers achieve the optimal outcome for each vehicle — much in the way vAuto helps achieve optimal performance for each dealership. Here are seven strategies for taking your performance to the next level:

1. Adopt a philosophy of ongoing evaluation.

The automotive industry is always changing, so anyone who wants to perform well in the industry must keep changing, too. vAuto understands this. Our Velocity^® method of inventory management helped dealers succeed for a long time — until market conditions changed and data science revealed a new path forward. That’s when the Variable Management approach emerged, giving you a way to treat each used car according to its unique investment potential, whether you acquire the vehicle through a wholesale auction or another channel. We’re dedicated to continual testing, validation and evolution to ensure that our solutions always align with the needs of the industry. You should be, too, if you hope to maintain optimal performance.
 

2. Remember: Quality in means quality out.

When looking for an inventory management solution, make sure you choose one that incorporates the best market data available. As part of the Cox Automotive family, vAuto delivers the highest-quality market data, valuations and analysis — empowering you to make highest-quality decisions.
 

3. Improve your performance through partnership.

Inventory management software isn’t the only requirement for dealership success. To reach the next level of performance, you need to work with a partner who can provide the intangible benefits of human expertise — such as coaching, process reinforcement, habit building and accountability. That’s why vAuto matches every client with a dedicated Performance Manager who knows how to put Variable Management into practice to achieve each dealership’s unique goals.

4.      Optimize your processes as much as your inventory.
   Managing the vehicles in your inventory is important, but you also need to manage how they get there — and how they get sold. vAuto is uniquely focused on improving these processes across your dealership. We don’t just develop inventory management software; we develop solutions for inventory and process optimization.
    

5.      Look for a partner dedicated to always getting better.

You can’t be the best dealer for long by simply standing still. The same holds true for market leaders. That’s why vAuto’s solutions are known to help the best dealers run better — because of our own dedication to always improving. Together, we’ll continually optimize our processes — and your performance.

6. Optimize the complete inventory lifecycle.

An inventory management solution that only focuses on pricing or wholesale sourcing isn’t really an inventory management solution at all. To realize the full profit potential of each used car, you must optimize every step of the inventory lifecycle — from before acquisition to the moment of sale. That’s exactly what vAuto does.
 

7. Leverage game-changing technology.

As the industry changes, so does the technology. Make sure you’re using the latest capabilities available to you. For example, vAuto has always offered cutting-edge solutions — starting with our industry-defining inventory management software harnessing market data. Current data science enables Variable Management, and future innovations will advance data science-aided decision- making to help dealers do consistently better in a more efficient way. We deliver the technology that turns better thinking into better actions and outcomes.

To learn more about how vAuto can help your dealership run better, request a demo today.