In the previous article we already talked about the importance of capturing demand from all the sources where it is generated, analyzing it completely and doing so for any product existing on the market. But, what practical uses can we find for demand analysis? Understand market needs. Perhaps the most important aspect of demand…
Market demand plays a critical role in shaping business strategies and product development decisions. Understanding the demand for products or services is essential for businesses to remain competitive and effectively meet customer needs. These are the main benefits it provides us: Identifying market opportunities Estimation of potential sales Improve product assortment efficiency and profitability Improvement…
The Automechanika Frankfurt trade fair is just around the corner, and almost all of us have it marked as one of our must-see visits. Every trade fair is a great opportunity to establish or strengthen business relationships, but since our time is limited, we must make the most of it. Whether you are a…
There are different types of vehicle spare parts that, depending on the period of year, present great differences in their demand levels. This demand behavior is known as: seasonality. In this article we will analyze the demand behavior for certain types of parts and in different countries, to analyze and observe their possible seasonality: 1)…
All manufacturers and distributors who have their own brand need to create equivalences between their products and part numbers of their competitors, suppliers or major brands. For this reason, they usually create and maintain huge matrices of equivalences of this type in spreadsheets: If we take into account that there are brands with extensive…
Historically, the sale of spare parts has been carried out exclusively by telephone, it is a process that all companies have perfectly studied and organized, they have one or more catalogs where they can initially search, if the part is not found, they know where else to look or ask, to that in the end…
Assortment planning determines the appropriate combination of products to offer customers and is a very powerful tool to obtain a competitive advantage, maximizing efficiency, profitability and sales. Some months ago, we saw in article Difference between optimizing stock and product assortment the difference between these to processes. In fact, most companies confuse the concept “stock” with…
One of the biggest challenges any company faces is increasing its sales. For spare parts companies, what are the main actions that help increase them? 1. Offer more competitive prices. It is clear that if you can sell cheaper, you become more competitive and sell more. To achieve this, you can search for new suppliers,…
Every year, level of demand for different existing vehicle parts varies depending on market needs. For this reason, it is very important monitorize demand to detect as soon as possible, parts that are becoming obsolete, as well as those news with increasing and high demand, which you should incorporate into your range. We have already…
In the previous blog we looked at the main areas where data can help aftermarket companies identify weaknesses and opportunities and, ultimately, allow them to generate greater performance. We also saw different Business Intelligence & Analytics solutions that exist on the market, some of them generic and others specific for auto parts companies. In this…
