Sourcing parts in the current market

LAST YEAR SAW huge progress for the Ibcos Gold Parts Marketplace and now, in 2023, the final phase goes live…

Aged and unsold parts inventory has become an increasingly serious problem for dealerships of all sizes, limiting their free storage space and cutting into their potential profit margin. For a long time, businesses were forced to either write off the costs or sell at a loss.

Ibcos Computers have been working on creating a solution to minimise parts depreciation and during 2022 launched the first two phases of their Gold Parts Marketplace; a dealer-todealer platform where parts can be bought and sold, integrated with the Gold Dealer Management System.

Two phases launched in 2022

Phase one provided dealers with the ability to use an automated search and extraction method to identify their aged inventory and using ‘one click’ processes, easily list their inventory onto the Marketplace. To date, more than 170,000 part lines, from more than 50 manufacturers have been advertised.

Phase two promotes the dealers’ ability to transact on the Marketplace. Buyers will be able to automatically generate purchase orders for a range of parts, at potentially lower costs. Marketplace transaction processes have been integrated into existing Ibcos Gold Parts purchasing functionality, providing a seamless user experience.

Sellers will also see options to accept and reject certain orders, auto-generate advice notes that include either user defined or custom delivery charges, and ways to track their own sales once an order is fulfilled.

More than 100 dealers are now signed up to generate revenue and reduce costs through the Marketplace.

Final phase to go live in early 2023 Ibcos Gold Marketplace phase three has been completed and will be available to dealers in early January 2023. Phase three focuses on bulk stock orders and stock replenishment using the Marketplace. This includes importing your suggested stock orders from Gold into the marketplace, as well as manually creating baskets of parts to order. Orders can then be fulfilled either from a single seller, or for the lowest price for each line item.

Moreover, dealers will be able to search for and source parts from franchises that they do not stock, or part records which do not yet exist in their Gold system.

This phase is an exciting addition that widens the parts marketplace, supporting the availability of scarce parts stock.

How can I get involved?

A live training webinar will be available in January 2023 as well as free weekly training slots for parts operatives to learn how to get the most out of the Marketplace.