Where Is Your Inventory? Cognosos knows.
Where is your inventory? No really, where are the four blue 2015 Rav4’s that you have in inventory? Are they in your front lot, reconditioning center, or back lots? It’s a safe bet you don’t really know. In fact, the last time I was at a dealership, it took the sales team thirty-seven minutes to track down the vehicle I came to look at. It turns out it was in reconditioning and I couldn’t see it anyhow.
You may not know where your inventory is, but with the onset and development of the Internet of Things (IoT) that is about to change. Cognosos is introducing new options to the automotive retail space for tracking and managing inventory. This technology, leveraging IoT, allows businesses to know where their things are and in what condition they are in at all times, in real time.
This usually happens using one of three technologies, the first of which is RFID tags. These are tiny electronic tags that are picked up by a scanner each time an item passes within range of that scanner. RFID is plagued with issues such as lack of specificity, the number of scanners needed, personnel requirements and more.
The most advanced (and most expensive) method is to track vehicles using cellular networks. This provides accurate GPS data, motion data, and more, but, it is expensive… prohibitively so.
Because RFID has such strong limitations and because cellular network IoT implementations are so expensive, dealers have not yet embraced tools aimed at inventory tracking and management. However, emerging technology has found the sweet spot of price and function.
Cognosos’s RadioCloud® technology uses micro-networks to provide similar data available from a cellular network (GPS location, movement, etc.), but for a defined area at a much more realistic cost.
This type of technology is easy to use. Essentially, scan a tracking device, scan a vehicle’s VIN and put the device on the vehicle visor. Now you can know exactly where that car is, anywhere on your lot(s), recon centers, car washes, etc. down to the exact parking space. You always have access to your inventory via an overlay map that shows where each car is located.
Do you want to know where the 2015 Rav4s are? That’s easy as well. Cognosos allows you to sort your inventory by many different attributes to see where each vehicle in that category is located.
An innovative IoT platform removes the long waits, wasted time, and process inefficiencies that are standard process (until now) when managing hundreds and thousands of inventory items.