Parts Eye

[Torgy]

Hyundai just announced that they are doing a R.I.M. program through a company called Parts Eye. This is replacing their Smart Stock program, which were never participated because of the size of our dealership is too small to meet their criteria's. I'm curious as to how much Hyundai will be wanting to increase our inventory.

Has anyone else had any experience with Parts Eye?

We have to pay and activation fee of $495, plus it's $399 per month, plus a DMS fee up to $55 per month depending on the DMS. But if we sign up by the end of Sept. and activate within 30 days Hyundai will reimburse us for the activation fee.

and if we don't sign up by Dec. 31'st, stock order allowance, return allowance, parts returns, parts incentives, and part promotions will not be available to us.

It seems that they are going the way of the General.

[ShouldaBeenRecalled]

Not familiar with Hyundai's policies, but when Nissan was working with PartsEye the program was fantastic.

Not sure what the full deal is, are they assisting with recalling parts with no sales after a certain period? (i.e. 9 months no sales, 12 months no sales)

Nissan had a fantastic deal with PartsEye, it was 100% protection on PartsEye recommended parts. Sadly, the program went away. PartsEye's math is very solid, I would work with them again if I had the opportunity. It depends on your OEM protections and how much it is going to cost. From my past experience, it is probably worth it in the long run, depending on your aging inventory level.

[Torgy]

[Not sure what the full deal is, are they assisting with recalling parts with no sales after a certain period? (i.e. 9 months no sales, 12 months no sales)

They will take items back after 9 month with a return each month. Bu I think that what you have in your inventory before going on parts Eye will be ours.

Hyundai has not shown us how the program works and the only training available is once you a registered and ready for your first Parts Eye order.

[mdishong]

Here's hoping it is more like Nissan's & less like GM's!

I do not like that Hyundai is not giving details until after you sign up, but I don't see a choice in the matter.

I have both Gm & Hyundai

[Torgy]

I have both Gm & Hyundai [/quote]

same here

[ShouldaBeenRecalled]

Yep. What you currently have in inventory is yours. You own it, you still have to work through it on your own. Anything over 12 months, wholesale it, write if off, get rid of it. It's costing you money and taking up capital.

I don't want to give you any information that doesn't apply to you. All depends on Hyundai's fine print. If PartsEye says they will take it back after 9 months, they will take it back on a monthly basis, beginning 9 months after you have been on the program. If they are covering the part 100%, I say take it. Trust in the math, they will inflate your inventory initially. The idea it that you have the part in stock and reduce your manually special ordered parts, which would not be covered and you would have to use your manufacturer aging accrual funds to return.

[FixedManager]

As most of the manufacturers reps have no retail experience and rarely step in a Parts department it is not surprising that they do not understand the program. There are documents that explain high level details of the program, you just need to ask the right person.

Most of the PartsEye programs are similar and generally revolve around a nine month protection for all parts recommended in the quantities suggested. Look at it this way, many of the items will not meet standard Phase In criteria. The system looks at demands and many of the newly suggested items will be what a Parts Manager considers every month; Early Phase In. The difference is that you are not gambling with your owners money as all items are protected and if they run without sales longer than nine months will be recommended for return. If you do not return them as recommended you will lose your protection and will need to use your accrual funds should you wish to return them later.

You said you will still accrue return value so depending on the rules of your program your compliance for order acceptance may affect the percentage at which you accumulate funds.

It's not a bad program and the support is pretty good however contrary to a previous comment the math behind the program is flawed. It is simple and does not consider enough factors (an oil filter is treated the same as a quarter panel) so the result in most facilities is a bloated inventory; PartsEye increases depth as well as breadth.

[mdishong]

Any details out there yet on this program?

[B964]

If you have to have a manufacturer controlled inventory PARTS EYE is the system you can only hope they use.
I used it in the past and there is none better.

It goes along the lines of what's good for the dealer is good for the manufacturer unlike GM RIM that thinks what's good for them is good for them.

[Torgy]

Is anyone having this issue with the CDK sor to parts Eye transfers on Hyundai orders.

The pull from CDK adds parts that have been previously ordered. I believe that this is happening when I backorder parts on orders,or do order transfers, but I haven't been able to pin point this issue 100%.
We have had several parts that we have received duplicate orders because of this.

So now I run the RUS report prior to creating the RPX report in CDK.

Then I have to compart the RUS report to the RPX excel report.

Is anyone else having this issue?