When it comes to staying competitive the number one thing customers will take in at first glance is price. How can you keep your prices competitive without having to sacrifice too much margin? By utilizing a system that can save you costs while building unique price plans. One of the most widely appreciated features of Rev Parts is the Ignite your Margins function. With it, you can determine the best way to cut deals, offer promotions, and manage returns and defects in order to retain maximum profits.
When setting prices inside of Rev you can create a standard for any line code. Some line codes cost more than others, so this function is fairly basic, but from this point on things get a little more complex. Take things a step further by creating custom rules for line codes. For example, fast-moving part numbers can be set with a higher profit margin since they are more likely to sell. On the other hand, reduce the margin for the same number, and make your business the place to go when it comes to that part. Once you have people coming in the door for something, they are far more likely to continue business with you.
Build specials within Rev and assign them as you see fit. They can be built to only remain active for a certain period of time, as well as custom tailored to specific customers or audiences. Encourage bulk purchasing by offering discounted rates, shipping discounts, or eligibility for future specials next time a customer creates an order.
Sometimes you get a bad part. In this industry with so many numbers and pieces, it is bound to happen. How do you keep track of what is a bad part versus a bad line though? Rev allows you to follow each part’s life cycle. See if a specific number comes back frequently as a defect or new, check the notes on each return, and decide if it is worth keeping on your shelf. Sometimes you have customers that are notorious for returns as well. Rev’s order tracking will help you identify them so you can be prepared when they create orders and offer solutions tailored to their needs if they are very particular about their parts.
To find out more about the Ignite Your Margin feature and Rev Parts Management Software, take a test drive. You’ll be glad you did.
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