HOFFMAN ESTATES, Ill. — ADP Dealer Services’ newest dealer tool, Lot Management, is designed to help dealers effectively manage their used-vehicle inventories. Company officials said the new tool represents the first of many solutions that will be wrapped into ADP’s Front Office Edge suite of products.
Lot Management is the result of an exclusive partnership with inventory management company RedBumper. It will be delivered through dealers’ mobile devices, and, according to officials represents the first inventory management solution built from the ground up around mobility.
“The last five years have reshaped the automotive retail space. This new competitive landscape truly requires a different, more analytical approach to used car inventory management,” said Steve Anenen, division president of ADP Dealer Services. “With ADP’s Lot Management, today’s dealers are in a far better position to make the right stocking and pricing decisions, purchasing vehicles that are expected to sell quickly and at a reasonable profit.”
This solution combines two distinct inventory management methodologies — historical and market data — then adds many other unique algorithms to provide specific, scientific recommendations about pricing, stocking, and more.
“Lot Management is a true response to the need for real-time integration with a dealer’s DMS; the goal is to give dealers a powerful, integrated suite of tools that will eliminate redundant, time-consuming tasks while helping sell more vehicles more quickly,” said Bruce Thompson, CEO and Founder of RedBumper. “We are excited to work with ADP Dealer Services to deliver these tools and efficiencies through the RedBumper mobile platform, giving dealers the information they need, when they need it.”