Name: FirstLook
Author: MAX Digital

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FirstLook by MAX Digital is a digital inventory management tool that aims to assist automotive dealerships in efficiently managing their pre-owned vehicle inventory. According to the vendor, FirstLook is suitable for dealerships of all sizes, from single-store operations to large automotive groups. It provides a range of features that cater to the needs of automotive dealerships, pre-owned managers, automotive sales professionals, and automotive groups.

## Key Features

**Acquire And Stock**: According to the vendor, FirstLook's proprietary algorithms analyze market velocity and sales history to identify vehicles with the highest potential for dealerships to add to their inventory. Dealers can stock vehicles through internal transfers, make-a-deal opportunities, and quick links to auctions.

**Instantly Appraise**: The vendor claims that FirstLook allows dealers to accurately appraise vehicles by reflecting the most current fair-market value, using a comprehensive market dataset. Appraisals take into account various factors such as market demand, year, make, model, trim, mileage, and condition.

**Validate Your Numbers**: According to the vendor, FirstLook provides real-time vehicle valuation and ten pricing proof points, including third-party resources like KBB, NADA, and Edmunds, to help dealers validate their pricing and appraisals. This feature aims to ensure accurate pricing and avoid unnecessary discounting.

**Deep Market Data Joined With Your Sales History**: The vendor states that FirstLook enables dealers to stock, price, and appraise vehicles based on local market demand. Highly customizable attributes allow dealers to target specific years, makes, and models that are likely to sell in their location.

**Drive Full-Group Performance**: According to the vendor, FirstLook's performance intelligence is trusted by some of the largest automotive groups in the industry. It aims to drive results within and across locations, maximize efficiency and profitability, manage and transfer inventory at the group level, and establish a common workflow for inventory management.

**Driving Gross + Volume**: The vendor claims that by matching market demand, dealers can stock the right vehicles and price them to move profitably. Market data accuracy ensures strong initial planning, while simple workflows and clear aging alerts aim to secure timely adjustments. Ten pricing proof points, including KBB, NADA, and Edmunds, support price value.

**Performance Dashboards and Alerts**: According to the vendor, FirstLook provides performance dashboards and alerts across various measures, including staff performance, closing rates, aging reports, and benchmarking. This feature aims to allow dealers to monitor and optimize their inventory decisions.

**Easy Photo Upload**: The vendor states that FirstLook simplifies the process of getting cars showroom-ready by allowing dealers to select photos from their mobile devices during the vehicle intake process. This feature aims to save time and streamline the inventory management workflow.

**Virtual Lot Walk**: According to the vendor, FirstLook's digital workflow and alerts help dealers stay on top of inventory decisions for each vehicle on their lot. With a daily cadence and discipline, dealers can efficiently manage their inventory and make informed decisions.

**Retail Market Intelligence**: The vendor claims that dealers, whether managing a group or single store, have full access to powerful insights from key performance metrics. FirstLook aims to alert dealers to opportunities for improving gross, turnover, and overall dealership performance.

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FirstLook

Inventory management systems are built to handle every stage of the inventory process lifecycle. There are several essential components to most inventory management solutions, starting with order entry capabilities to handle purchase automation. Another standard feature: inventory control and warehouse management to track products and manage workflows through warehouse management. Inventory management systems also typically include distribution capabilities for supply chain management. Fully-featured inventory management systems may also include integrations with customer lifecycle service management, enterprise resource planning software, and robust financial analysis and insights.

Inventory Management

MAX Digital

The ability to track and manage the flow of goods or materials into and out of an inventory.

Inventory tracking

The software syncs orders and stock to maintain a real-time picture of inventory and supports multiple methods such as LIFO and FIFO.

Automatic reordering

The software can be set up to automatically reorder a good when it falls below a certain threshold.

Location management

The software can track multiple goods across multiple locations.

Serial number and batch tracking

Track individual items via serial number or batches of items made or purchased at the same time in addition to total stock of item types.

Barcode scanning

The software offers UPC creation and scanning capabilities or integrations for tracking inventory.

Automation rules

Rules can be established to automate reordering items, applying tags to organize inventory, creating production orders, shipping items via specific carriers or methods, and more.

Reporting and analytics

Reports about historic and current inventory and order trends are available.

Fulfillment

When orders are received, pick orders are sent to the ideal location and fulfillment status can be tracked.

Backorder management

Backorders are prioritized and fulfilled as new stock arrives.

Returns management

Returns are processed and accounted for among orders and inventory.

Bill of materials management

The software can create and manage BOMs based on orders.

Item kitting

Items can be bundled and sold together in a kit, and the software will automate the necessary tracking and fulfillment steps to manage each individual item.

Invoicing

Invoices for orders can be created and sent, and invoices from suppliers can be managed.

Forecasting

The software predicts future inventory and order trends, and may offer reordering and production suggestions based on these predictions.

Accounting integration

The software integrates with accounting software for more comprehensive bookkeeping.

Point of sale integration

The software integrates with a point of sale system for payment processing.

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FirstLook

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What is FirstLook?