Inventory Management System

An Inventory Management System is software focused on tracking and merchandising a dealership’s vehicle inventory. It keeps detailed records of each vehicle in stock – including new and used cars – with info like VIN, make, model, trim, year, colour, options, purchase cost, and current status (available, sold, in transit, etc.). Dealership staff use the IMS to know what’s on the lot and where. It often ties into the dealership’s website and online listings: when a vehicle is added or sold, the system updates those feeds so customers see accurate availability. In Canada, where regulations (like Ontario’s all-in pricing rule) require certain price disclosures, the IMS can help ensure the advertised price includes all fees except taxes/licensing [oai_citation:14‡omvic.ca](https://www.omvic.ca/buying/your-rights/all-in-price-advertising/#:~:text=All,law). The system can also generate window stickers and buyer’s guides for used cars with correct info. Additionally, management uses inventory software to monitor metrics like days on lot (how long each vehicle has been in stock), which informs pricing decisions and promotions. By analyzing which models sell quickly versus those sitting unsold, the dealership can adjust its inventory mix. Ultimately, the IMS is crucial for both sales and operations: it helps salespeople instantly answer “do you have this model in stock?” and helps the dealership optimize inventory turnover and reduce carrying costs by being strategic with what and how much to stock.