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Sell unwanted stocks and source Spare Parts today from anywhere

PareX is an online parts platform for trading current and obsolete parts between franchised dealers, used by more than 6,000 dealers around the world. PareX development was started 15 years ago to enable dealers to easily and quickly locate both obsolete and current parts with other dealers; allowing them to lower their obsolete stock and increase customer satisfaction.

Aging stock is an issue for all dealers. PareX gives them opportunity to sell them, improve profits, avoid further unnecessary storage cost and returning a rate of return way above the often “salvage value” of their inventory. It works with all dealer management systems that include an export function. Obsolescence, perhaps more than anything, can debilitate profit associated with carrying inventory. Industry experts show that when an unsold part hit six months aging, the probability of a sale drops 65%-70%. When the part sits around for more than 12 months, there is even lesser chance of being sold. Even if it is sold, holdings cost absorb all the profits.

PareX is in use with major OEMs like Toyota, Suzuki, Nissan, Land Rover, Peugeot, Ford, Jaguar, Kia and Volvo. It has grown rapidly with more than 25,000 searches and 2,500 transactions carried out every day. Mercedes-Benz dealers in Germany earned an additional 4.4 million Euro (RM18 Million) by using the system, while Ford dealers traded more than £7.2 Million (RM38 Million) of written-off parts.

According to PareX, the dealer is in control. They decide which parts to order; they decide on the classification – current, obsolete or old; parts availability is sorted by obsolescence, actuality and region; dealers can search for multiple parts at once; with the results sorted per dealer.

Joost Kramer of PareX, shared “Simplicity is key; the dealer enters the part number, finds dealers with the part, chooses the delivery method, selects the part and places the order.” Prices are set by simple rules. Obsolete parts are priced at 25% cheaper than the current net parts price, while old parts are half the price.

Dealers can source from any country where PareX is present. In future when a dealer in Malaysia is not able to complete a repair job, the Parts Manager will be able to locate a Part through PareX either locally or abroad in a few seconds.

Parex co-founder Joost Kramer and team were be in KL from 8-12 Sep 2014. If you wish to meet them next time, kindly contact Devindran Ramanathan @ 019-2411471. Read more at www.parexparts.com or www.pentanasolutions.com

Read an article published by Automotive Management (AM-online) on 11 WAYS TO MAXIMISE YOUR AFTERSALES PROFITS