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This page is an archive of previously-published content. The information was accurate at the time it was published; however, the information may no longer be accurate or complete. If you have any questions about current Car-Part products, please contact your sales or support rep.
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| Volume 07 - Issue 2 | |
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What Does Advanced Bidmate Do?
Bidmate has always helped you evaluate auctions and identify profitable vehicles based on how well those vehicles have returned your investment in the past. But what about those vehicles that you don't have historical data for? Parts that you have never had in inventory and have little or no data for are difficult to evaluate based on your data alone. Advanced Bidmate gives you the power to make informed decisions even for vehicles you have zero or little history with, because Advanced Bidmate includes Car-Part request data in the evaluation.
In addition to the data in Bidmate, with Advanced Bidmate you can also take advantage of Car-Part request data in Partmate and Checkmate*, and Coremate Pricing Information in Checkmate*, for no additional charge.
The data included in Advanced Bidmate comes from searches performed on Car-Part.com and Car-Part Pro. It helps you identify parts, by interchange, that are in high demand in the Car-Part marketplace. Here's how it works:
Car-Part.com receives millions of international part requests. (For example, last year interchange number 65123C, an engine for a 2005 Camry, received 3,841 global requests.) We developed Advanced Bidmate to take global search statistics and translate them to a number that is meaningful for your individual business, at a number that can easily be compared against your own Request data.
In the background, Advanced Bidmate analyzes your own business's request data in Checkmate to understand your individual market. Advanced Bidmate then uses an internal algorithm to identify the parts that you sell most frequently, and uses this information to scale the global Car-Part request data down to a size that is comparable to the size of your own market. Because these numbers are now adjusted to a size representative of your own market, they can be compared "apples to apples" against your own data.
Car-Part request data is available on the Evaluate Parts screen, where you see the parts for an individual vehicle. With Advanced Bidmate, you see the adjusted part request data from Car-Part searches in the Requests – CP column. You can use this number to compare against your own request data (in the Requests - Your column)
You can also use it to evaluate parts you have never had in stock before (and have no data for). In this example, you can see that the individual yard data and the Car-Part request data for the engine (ENG) are comparable. The front bumper (FBR), however, doesn't have much individual yard history, so without Car-Part request data built in, we wouldn't even know that this is a popular part buyers are searching for! This is how Advanced Bidmate can help you buy vehicles you have little data for. As you can see, the FBR's Price column is colored blue, indicating that Advanced Bidmate has determined this is a "BUY" part based on Car-Part request data.
To see the specific request data from either Checkmate or Car-Part.com, click the Requests button. A window will open displaying the number of Car-Part requests for each interchange part, and you can also use this window to set prices for a part based on either set of data.
Car-Part request data is also available on the Vehicles Screen in Advanced Bidmate, where you see the list of available vehicles in an auction. Here, there is a new CP % Buy column that displays the percentage of parts on a vehicle that are classified as a BUY, based on Car-Part request data. You can compare this to the Your % Buy column.
In addition to the Car-Part request data in Bidmate, with Advanced Bidmate you also enjoy Car-Part request data in Partmate and Checkmate*, and Coremate Pricing Information in Checkmate*, for no additional charge. Advanced Bidmate is available for Checkmate users only.
For more information about Advanced Bidmate or to subscribe, contact your sales rep or call us at 859-344-1925.
*Request data and Coremate Pricing Information available in Checkmate Build 75 or higher
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| | | Did You Know?
The date is set for our 2014 Car-Part Industry Conference! Join us August 7-9 as hundreds of auto recyclers come together for classes, panel discussions, and one-on-one training. In the evenings, we'll enjoy dinner receptions and a Cincinnati Reds game in our own private room! Learn more or register your team on our Products site.
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